Tsesnabank sums up first quarter 2009 results
ASTANA. May 20. KAZINFORM. /Muratbek Makulbekov/ The International Monetary Fund mission held consultations in Kazakhstan during May 5-15 and analyzed the situation in the economy and financial sector and discussed the country's economic policy in the recession conditions.In their statement the IMFТs experts noted that the recent measures aimed at increasing the level of funds reservation (formation of provisions) by the largest banks shed light on the financial situation of these institutions. However, due to the economic decline the quality of assets will worsen anyway. Thus it is necessary to carry through a diagnostic appraisal of the major banks including their off-balance sheet activities and status of foreign assets.