S&P Upgrades Assessment of Kazakhstan's Banking Sector
Summary
S&P Global Ratings has upgraded its industry risk assessment for Kazakhstan's banking system from '7' to '6'.
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International rating agency S&P Global Ratings has upgraded its assessment of Kazakhstan's banking sector, according to the Agency for Regulation and Development of the Financial Market (ARDFM).
The country's banking industry score improved from '7' to '6'. Analysts highlighted that Kazakhstani banks have demonstrated greater stability, supported by stricter and more effective regulatory supervision compared to peer countries in the region.
In addition, S&P revised its outlook on the 'economic risk' component as part of the overall banking industry assessment for Kazakhstan.
Source: Kursiv
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