Kazakhstan tops global non-performing loan rating

The World Bank has ranked Kazakhstan first in the 2012 global nonperforming loans rating with the most economies of the world listed.

Stunning 31% has raised Kazakhstan to absolute 'leaders', writes Forbes Kazakhstan.

In Top 10 in the WB's NPL anti-rating, Kazakhstan is followed by Ireland - 18.7%, Lithuania - 18%, Greece - 17.2%, Bulgaria - 16.9%, Romania - 16.8%, Hungary - 15.8%, Moldova - 15.2% and Ukraine 14.1%.

Luxembourg with 0.4% is in tail of list, according to the report.

Forbes Kazakhstan noted that Kazakh financial market players call nonperforming loans as nonreturnable that bankers may forget about.

As a financial analyst told on conditions of anonymity, fraud is the main cause of money losses in the Kazakh banking system.

It means internal corruption in banks and interested bank officials who knowingly approve nonreturnable transactions. 

nur.kz