Kazakhstani banks will be able to get into economy development in Kazakhstan by 2020 - Kelimbetov
Astana. May 13. KazTAG - Second tier banks will be able to get rid of current problems and get into economy development by 2020, said Kairat Kelimbetov, chairman of the National Bank.
"Talking about the banking sector, the size of assets of the banking system in relation to non-oil GDP makes 64%, level of credits to non-oil GDP makes 55%, we suppose that by 2020 the level of assets to non oil GDP must be at least 80%, the level of credits - about 60%," he said.
"In simple words, the banking sector must rehabilitate, pass through all the problems which surround us, eliminate the thromb of non working assets and get into economy development of Kazakhstan supporting economic growth," he said.
In his words, in 2004-2007 Kazakhstani banks gave 3% GDP growth out of 8% annual growth in that period.