Only 15-20 banks will remain in Kazakhstan after 2018 - Kelimbetov

Date: 11:15, 17-04-2014.

Almaty. April 17. KazTAG - 15-20 banks may remain in Kazakhstan after 2018, said Kairat Kelimbetov, chair of the National Bank.

"Today’s approach when there are 28 banks, and in my opinion, not very high requirements to the capital from the side of regulator means that these banks are not likely to withstand the competition which will come next years. Thus, we think that within 5 years we will shift to new requirements on Basel III, and one of the regulations - to increase minimal capital to 100 bln tenge by 2019," he said.

In his words, the regulator is coordinating increase of the minimal requirement to the banks' capital to 100 bln tenge with the banks and the Government.

"As for the schedule, we can do it drastically or gradually," he added.

" We believe that 15-20 banks of our state will be able to comply with the new requirement, it does not mean we will shut down other banks. In this period they will have a chance to integrate or consolidate. For example, we can see today how the KKB is consolidating with the BTA. We see that Temir, Allianceand Forte bank which belong to one group of investors are consolidating," he added.

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