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Number tier two banks, incl.:	35	37	38
banks with 100% of authorized capital owned by the Government	1	1	1
Number of tier two banks’ branches	352	379	374
Number of tier two banks’ cashier settlement desks	2028	2167	1925
Number of tier two banks’ representative offices abroad	17	14	17
Number of non-resident banks’ representative offices in the Republic of Kazakhstan	26	31	32
Number of participant banks in mandatory collective insurance system for individuals’ deposits	33	35	36
Number of banks licensed to engage in custodian activity	10	11	11

Table 1 shows that on January 1, 2010 there was an increase in the number of tier two banks’ representative offices abroad, number of non-resident banks’ representative offices in the Republic of Kazakhstan, number of participant banks in mandatory collective insurance system for individuals’ deposits, number of banks licensed to engage in custodian activity.
    Next, let’s consider the structure of assets of two-tier banks, of liabilities of two-tier banks, of capital of two-tier banks, of liquidity and profitability of the banking sector.

For 2007 the banks’ total assets increased by 2,811.4 bln. tenge (31.7%) and for January 1, 2010 totaled 11,557.3 bln. tenge (table 2).

Table 2 - Structure of total assets of the banking sector, [7]

The banks’ asset mix shows the prevalence of loans to customers, followed by cash, refined precious metals and correspondent account balances, securities portfolio, deposits in other banks.

During 2008, bank total assets increased by 205.0 bln. tenge (1.8%), and on the January 1, 2009 constituted 11 889.6 bln. tenge.

From 2008 bank loans and reverse REPO transactions have increased by 376.2 bln. Tenge or by 4.2%; cash, refined precious metals and correspondent account balances decreased by 192.9 bln. tenge or by 19.0%; securities increased by 100.4 bln. tenge or by 12.7%, deposits in other banks decreased by 65.7 bln. tenge or by 10.2%, capital investments increased by 97.0 bln. tenge or by 43.6%.

On-balance sheet debt increased from 100.5 bln. tenge by 156.5 bln. tenge (2.6 times) up to 256.6 bln. tenge

Account balances reflecting the past due interest payments increased from the beginning of the year by 31.6 bln. or by 2.8 times and reached 49.0 bln. tenge as of 1 January 2009.

During 2009 the decrease in assets has equaled to 332,3 bln. tenge (2,8 %), bank loans and repo operations have increased by 394,4 bln. tenge (4,3%), reserves (provisions) have increased by 2 968,4 tenge.

In 2009 in comparison with 2008 and 2007 are the lowest rates of total assets.

Figure 1 - Structure of assets, [7]

The largest share of the asset structure falls on Bank loans and reverse Repo as they bring great profit (figure 1).

During 2007, total liabilities of two-tier banks have increased by 2,255.1 bln. tenge. (that is by 28.2%), and totaled 10,256.7 bln.tenge, as of the end of the reporting period (table 3).

Table 3 - Structure of total liabilities of the banking sector, [7]

The greatest contribution to the increase in banks’ liabilities came from special-purpose deposits (SPV) of bank subsidiaries, which have increased by 971.9 bln.tenge, that is by 62.4%, followed by due to individuals, which increased by 413.6 bln. tenge, that is by 40.0%; while loans from other banks and institutions engaged in certain types of banking operations have increased by 379.1 bln. tenge to 1,798.2 bln. tenge.

From beginning of 2008 total liabilities of second tier banks increased by 177.5 bln.tenge (or by 1.7%), and formed 10 437.0 bln.tenge, as of 1 January 2009.

SPV deposits in total liabilities of the banking sector decreased by 244.5 bln. tenge, or by 9.7%, liabilities to individuals increased by 52.4 bln. tenge, or by 3.6%; while loans from other banks and institutions engaged in certain types of banking operations decreased by 348.0 bln. tenge to 1 450.2 bln. tenge.

Total liabilities of commercial banks in 2009 increased by 2 099.8 bln. tenge or by 20,1%. In the structure of liabilities, corporate deposits have increased  by 978.2 bln. tenge or 31,7%, retail deposits by to 437.1 bln. tenge or 29,1%. Special purpose deposits of subsidiaries have decreased by 489.0 bln. tenge or 21,4%, loans from other banks and institutions engaged certain types of banking operations by 202.7 bln. tenge or 14,0%.
    Foreign currency deposits in 2009 increased by 966.2 bln. tenge or 1.5 times.

Figure 2 - Structure of liabilities, [7]

The largest share of the liabilities structure falls on corporate deposits and SPV as they are based on large sums of money.

Line-item change in capital for 2007-2009 is presented in Table 4.

Table 4 - Calculated own capital of two-tier banks, [7]

* negative value of the calculated own capital is connected with decrease of own capital of BTA Bank, JSC and Alliance Bank, JSC

**data across the system is given without BTA Bank, JSC and Alliance Bank, JSC.

Year 2007 to date, total estimated equity of tier two banks has increased by 611.6 bln.tenge (52.3%) to reach 1780,2 bln. tenge as of January 1, 2008. Herewith, tier one capital increased by 57.3% to reach 1284.0 bln. tenge, while tier two capital increased by 45.0%, i.e. up to 558.9 bln. tenge.

 Total estimated own capitalofsecond tier banks increased by 167.7 bln.tenge (9.4%) from the beginning of 2008 and reached 1 947.8 bln. tenge as of 1 January 2009. Herewith, tier 1 capital increased by 18.8% and reached 1 525.1 bln. tenge while tier 2 capital decreased by 11.4% till 495.1 bln. tenge.

Tier one capital decreased by 2580.4bln. tenge, authorized capital by 397.6 bln. tenge, supplementary capital decreased by 0.4 bln. tenge, tier two capital decreased by 182.9 bln. tenge, subordinated debt increased by 24.8 bln. tenge, tier three Capital increased by 0.2 bln. tenge, investments of banks increased by KZT 99.3 bln.tenge.

Because of restructuring of BTA Bank, JSC the total calculated own capital of 2-tier banks of RK  for 2009 has negative amount. BTA bank’s shares were bought by state so the capital of this bank decreased. But if we don’t take it into consideration the total calculated capital for January1, 2009 is the least but positive.

Table 5 - Change in liquidity of the banking sector, [7]

*data across the system is given without BTA Bank, JSC and Alliance Bank, JSC.

In table 5, as of 1 January 2008, the liquidity of the banking system remained at excessive level. Composite current liquidity ratio, as of 1 January 2008, was 1.43 (vs. minimum standard for a particular bank of 0.3), short-term liquidity ratio was 0.97 (vs. minimum standard of 0.5).

As of 1 July 2008 the amendments in liquidity norms have come into force, aimed at regulation of term liquidity and term currency liquidity (up to 7, 30 and 90 days).

As of 1 January 2009 there wasn’t any violation of term liquidity and term currency liquidity coefficients (considering liquidity norms changes). Herewith, As of 1 January 2009 in banking system there are: coefficient of term liquidity up to 7 days (k4-1) constituted 3.1 (vs. minimum norm 1); coefficient of term liquidity up to 30 days (k4-2) constituted 1.8 (vs. minimum norm 0.9); coefficient of term liquidity up to 90 days (k4-3) constituted 1.6 (vs. minimum norm 0.8).

Composite current liquidity ratio, as of 1 January 2010, was 0.9 (vs. minimum standard for a particular bank of 0.3), coefficient of term liquidity up to 7 days (k4-1) constituted 5.1 (vs. minimum norm 1); coefficient of term liquidity up to 30 days (k4-2) constituted 2.6 (vs. minimum norm 0.9); coefficient of term liquidity up to 90 days (k4-3) constituted 2.1 (vs. minimum norm 0.8).

Mainly all indicators of liquidity for January 1, 2010 are the highest, it means that the liquidity of banks increases and for banking sector it is good.

Table 6 - Summary performance indicators reflecting the earnings of the banking sector, [7]

In interest income, the largest proportion falls on interest income on loans to customers, while in interest expense prevailing are interest payments on due to customers. Net income before tax to total assets ratio (ROA) totaled 2.25%, net income before tax to equity ratio (ROE) was 18.41% (table 6).

Net income before tax payment to total assets ratio (ROA) totaled 0.23%, net income before tax payment to own capital ratio (ROE) was 1.88%.

Net income before tax payment to total assets ratio (ROA) totaled (-24.06)%, net income before tax payment to own capital ratio (ROE) was (-1192.63)%.

The results of the banking sector in 2009 are waning, despite the tremendous support of several big banks, huge losses and negative equity have not been overcome.

In the global economic crisis banking system of Kazakhstan was one of the most affected in country's economy. Standard & Poor's attributes this to its structural weaknesses, which are due to the strong dependence on external financing, as well as high-risk concentration (including the connection with significant risk of some major banks in foreign loans), weak risk management, a significant share of unhedged loans and deposits denominated in dollars, coupled with the ineffectiveness of measures taken by regulatory authorities, as well as the rapid growth of banks over the last decade. The seriousness of these problems, evidenced by recent defaults of four Kazakhstany credit institutions, including two of the top four systemically important banks - JSC BTA Bank and Alliance Bank. At stake are in default of BTA Bank, Alliance Bank, JSC Temirbank and Astana Finance "accounts for about one-third of total outstanding loans of the banking system, and their reporting rates of gross problematic assets (GPAs) and loan losses on settlements of Financial Institutions’ Association of Kazakhstan will be significantly higher than the average for the system.

In terms of Financial Institutions’ Association of Kazakhstan in the next few years the banking sector in Kazakhstan will be subjected to risks associated with the quality of assets and refinancing. Even if conditions improve, and economic growth resumes, banks can not quickly cope with the problems caused by their aggressive expansion in the lending market in the recent past. [8]

2020-03-19

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