Although the debt restructurings at three of the leading Kazakh banks have now been completed, there are few signs of a meaningful revival in risk appetite among many of the country’s lenders.
According to the latest statistics, although net lending rose by 0.3% in August, it has shrunk by 5.4% over the year, despite the fact that the Kazakh economy expanded by 7.9% over the same period and the full-year forecast is for GDP growth of at least 5%.
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