Korea Asset Management Corporation shares knowledge on NPL reduction with Kazakhstan
- 5 years ago
캠코, 카자흐스탄 정부 대상 부실채권 노하우 전수
South Korea's non-performing loans ratio peaked at 13 percent in late 1999 after the country went through a financial crisis,... but, as of last month, that ration had dropped to just over one percent. South Korea is now hosting a seminar to share its knowledge with Kazakhstan.
Our Cha Sang-mi has more.
The Korea Asset Management Corporation is hosting officials from Kazakhstan to pass down its knowledge on non-performing loans, or NPLs.
An NPL is loan on which the borrower is not making interest payments or repaying any principal and a high NPL ratio can have a serious impact on a developing country.
The week-long seminar is being sponsored by the European Bank for Reconstruction and Development (EBRD), an international institution of which South Korea serves as an important donor.
And a board director from the EBRD says this is one of the reasons South Korea is qualified to share its knowledge.
"Our country is the only country in the world that went through a status change from a recipient to a donor nation. By transferring knowledge and experience of our country's economic development, I believe the status of our country will be expanded within the international community."
Kazakhstan has seen a sharp decrease in its NPL ratio since it marked a staggering 33 percent in June of 2013. As of March this year, it was down to 8-point-3 percent.
But the head of risks at the National Bank of Kazakhstan (NBK), expressed hopes for lowering the NPL ratio even more.
"NBK still believes this level is high and we need to work on it for we had quite significant drop down. Oil market and commodity markets prices dropped down and as you know, Kazakhstan is still dependent on the commodity market."
Although Mr. Izbassarov said Kazakhstan has no set ratio in mind, it hopes to follow in South Korea's footsteps.
Cha Sang-mi, Arirang News.
South Korea's non-performing loans ratio peaked at 13 percent in late 1999 after the country went through a financial crisis,... but, as of last month, that ration had dropped to just over one percent. South Korea is now hosting a seminar to share its knowledge with Kazakhstan.
Our Cha Sang-mi has more.
The Korea Asset Management Corporation is hosting officials from Kazakhstan to pass down its knowledge on non-performing loans, or NPLs.
An NPL is loan on which the borrower is not making interest payments or repaying any principal and a high NPL ratio can have a serious impact on a developing country.
The week-long seminar is being sponsored by the European Bank for Reconstruction and Development (EBRD), an international institution of which South Korea serves as an important donor.
And a board director from the EBRD says this is one of the reasons South Korea is qualified to share its knowledge.
"Our country is the only country in the world that went through a status change from a recipient to a donor nation. By transferring knowledge and experience of our country's economic development, I believe the status of our country will be expanded within the international community."
Kazakhstan has seen a sharp decrease in its NPL ratio since it marked a staggering 33 percent in June of 2013. As of March this year, it was down to 8-point-3 percent.
But the head of risks at the National Bank of Kazakhstan (NBK), expressed hopes for lowering the NPL ratio even more.
"NBK still believes this level is high and we need to work on it for we had quite significant drop down. Oil market and commodity markets prices dropped down and as you know, Kazakhstan is still dependent on the commodity market."
Although Mr. Izbassarov said Kazakhstan has no set ratio in mind, it hopes to follow in South Korea's footsteps.
Cha Sang-mi, Arirang News.