OREANDA-NEWS. August 06, 2009. Chairman of the Board of Kazkommertsbank Nina Zhusupova and Chairman of the Board of Directors of Halyk Bank Alexander Pavlov described the results of the measures that are being made to improve the financial environment, reported the Official website akorda.kz.

- The hard times are already behind us, - said during the meeting the head of Kazkom. The situation in the banking sector has stabilized. There was an increase in deposit base and the loan portfolio.

According to Nina Zhusupova, those measures which were adopted by the Government under the instructions of the President to improve the economy, allow banks to overcome volatility. We can see now a newly revived demand for banking services, in particular in lending to small and medium-sized businesses.

- We would like to thank for the assistance that was provided. In the first instance to holders of mortgages as the state program for mortgage holders demonstrates good results. The quality of the loan portfolio of the mortgage holders is no longer getting worse. A significant number of people who took loans for the purchase of a single housing, including social, received considerable support payments as they were significantly declined, - said N. Zhusupova.

As a result of the implementation of the anti-crisis program the situation in the banking system has been quickly stabilized, deposit base of banks has markedly increased.

After the meeting President Nursultan Nazarbayev gave an assessment of the financial sector of the country:

- I have heard the reports on the state of the economy and financial system in the first half of the year. The Government, the management of the National Bank, Kazkommertsbank, Halyk Bank and other financial institutions reported to me. Today, a confidence in Kazakhstan's banking system is growing. Talks that our banks will go bankrupt and that a foreign bank will come and take all its funds are absolutely wrong. I responsibly declare we will not let any foreign bank to control Kazakhstan s banks.

We will support them as the main thing for us our own financial system. As you know the state entered the Kazkommertsbank as the largest shareholder, it controls all that is happening there and supports the bank. The state has also entered Halyk Bank and now owes 20% of its shares and will support it further. The state has a full control of the Bank TuranAlem package, which is being restructured now. Therefore, conversations that our banking system is weak are not correct. Try to keep your money in the Kazakhstan banks, but not in those ones, the management of which we are unable to influence.

That is the first. The second point is that the crisis should teach not only bankers, but all the people to live within its means. Banks are guilty of the unrestrainedly given credits. And people used these offers. Now many find themselves in dire situations. Credit for wedding is taken both by the bridegroom and bride, a wedding is celebrated, and then the credit is hanged on the neck of the young couple. What kind of approaches are these? We quickly became rich. Some people suddenly prospered and did not know how to use their funds. Throughout the world, extra money is kept in banks. The loans are borrowed and are paid back. If one takes a loan be so kind to pay it back, or be responsible under the law, property, or under the Criminal Code. It is the law and it must be performed.

In general, we have completed the first half of the year normally. There is an upturn in business and the economy as a whole. You can see that new industrial enterprises are given a start. As part of the road map 320 thousand jobs are represented, industrial program is implemented, the infrastructure program also does not stand still.

This is all aimed at giving people new jobs and enhance their welfare. All social obligations that we have are performed by the state. Look at what is happening in the world. In the United States, 64 banks collapsed in the recent past. World paid for the crisis 11 trillion dollars. But we have fully retained the bulk of our national fund and gold reserves. Allocated money is used by the banks, and now we feel the impact - an improvement of the state of affairs. But there are still things to overcome. There will be some difficulties, but the Kazakhstanis can be sure that the state will do its best to make their lives normal and stable, - said the Head of State.