The falling dollar rate forced the National Bank of Kyrgyzstan to enter the foreign exchange market again with intervention. The bank bought dollars. As the official website of the National Bank of Kyrgyzstan reported, it carried out the third intervention in July. But, unlike the first two, it did not sell, but bought US dollars.…
The supervisory board of PrivatBank (Kyiv) has announced McKinsey & Company the winner of a tender to select an internationally recognized company responsible for drawing up a strategy of the financial institution. PrivatBank said in a press release that the objective of this assignment was to design a market strategy to optimize PrivatBank operations while…
Deputy Chairman of the National Bank of Kazakhstan Oleg Smolyakov has commented on the purchase of Kazkom by Halyk Savings Bank. “On July 5, the transaction for the acquisition of the controlling interest in Kazkommertsbank JSC by Halyk Savings Bank of Kazakhstan was completed. All rights and legitimate interests of the depositors, creditors, investors are…
In 2016, the profit of the National Bank decreased by 42.3% YoY. The Audit Chamber reported on the results of the bank audit last year. As of December 31, 2016, 50 accounts of the Central Treasury of the Ministry of Finance of the Kyrgyz Republic were opened in the National Bank. 32 of them were…
A new building of Rysgal commercial bank – Turkmenistan’s first bank created by private entrepreneurs – opened in Ashgabat. The private credit organization created by entrepreneurs gives a new impetus to developing the private sector of the Turkmen economy. In late March, the International Monetary Fund (IMF) said Turkmenistan needed to improve the business and…
This year has seen an increase in demand for consumer loans – EUR 9.3 million was provided to clients in the first half-year of 2017, up by 15% YoY, as reported by SEB Bank representatives. “According to SEB Bank’s data in summer months residents more actively use loans to purchase cars, perform home repairs, travel…
The National Bank of Kazakhstan is maintaining the base rate at 10.5%. “The National Bank of the Republic of Kazakhstan has decided to keep up the base rate at the level of 10.5% within +/- 1% corridor. The annual inflation level is consistent with the forecasts made by the National Bank and remains within the…