"Last year we took scaled measures to support the banking sector. (...) 653 bn tenge support was provided to five socially significant banks- Eurasian Bank, ATF Bank, Cesna Bank, Center Credit and Bank RBK. As for the repayment scheme, the shareholders must invest half of the sum in the banks within five years to write off major part of non-performing loans, i.e. 1.2 trln tenge," he said.
In his words, it concerns the loans provided by the banks for the past 10 years which turned to be nonperforming and putting barriers for the economy crediting by the banks.
"I should emphasize the funds are repayable, i.e. they must return the money within 15 years. The banks must also write off and they have already written off 710 bn tenge, they must credit the economy. As of April 1 these banks have provided loans to 865 bn tenge taking in account loaners ‘restructuring, including to small and medium enterprises 315 bn tenge, 329 bn tenge to corporate business, individuals- 22 bn tenge,' he said.
Photo source: picture from an open source