On the end of the first half of the year 2009 the debt of BТА bank has been 2,5 trillion tenge, Halyk bank – 988 bln. tenge, АTF bank – 859 bln. tenge and  Alliance bank – 786 bln. tenge. For five months 2009 losses of all Kazakhstan banks have exceeded 2 trillion tenge.

       On September, 7th, 2009 BТА bank offered creditors four variants of re-structuring of the debts the total amount of which was 12 billion dollars. According to the first variant, it is offered to creditors to redeem a debt on 1 billion dollars for cash with discount of 82,25 %. The second variant provided prolongation of debts for seven years with discount of 60 % and decrease in the rate of compensation with a five years' delay. In the third variant debt prolongation for fifteen years without discount, but with decrease in the rate of compensation with a ten years' delay was offered. The fourth variant included an exchange of debts for shares with 80 % discount. The bank intended to re-structure 10,3 billion dollars debts and to reduce their total amount to 8,2 billion dollars. However creditors suggest to write off only 4,9 billion dollars debt against the sum offered earlier by bank. According to developed by program bank, creditors have been divided into the senior package which included three options, and on younger, including two options.

       The Alliance bank has given to creditors on a choice five options. The first option – the repayment for cash money with discount at a rate of 77,5 %. The second meant seven-year prolongation with discount of 50 % on the decreased interest rate, with amortization of the basic debt upon termination of 4 year preferential periods. The third option – payment of debts face value, but in 7 years of a preferential period during the following 10 years. The fourth option included debt payment at a face-value within 13 years after 10 years of a preferential period. The fifth option – converting of debts of creditors in a bank share from 75 to 80 %.

       Re-structuring of Temirbank was more simple because the portfolio of obligations was small.

     In last months of 2009 proceeding reduction of a share of standard credits and growth hopeless, and also growth of expenses on formation of provisions became a principal cause of deterioration of the basic indicators of bank system. Such tendency, according to experts, obviously doesn't testify the recover of bank sector of the country. However news about successful re-structuring of the largest banks install optimistic hopes. Many bank analysts believe that Alliance bank, and BТА bank can successfully spend re-structuring, and remains to only a few time before end of this process.

       On the end of 2009 the external debt continues to make 39 billion dollars, and level of problem credits in a cumulative portfolio exceeds 30%. Banks, in view of closing of external sources of funding, were reoriented on home market. From the beginning of 2009year growth of depositary base in spite of the fact that in all 2009 bank sector of RK still uses mistrust from rating agencies is observed.

       On March, 30th, 2010 the first about re-structuring end declared Alliance bank. As a result of process the bank has written off almost 3,5 billion dollars debts, the volume of obligations was reduced from 4,5 billion dollars till 1,08 billion dollars. As a result the structure of shareholders has changed also. So, 67 % of bank shares are at fund Samruk-Kazyna, 33 % – at creditors who are distributed between two thousand the minority shareholders any of which has no share more than 3 % of shares.

       Already on July, 1st Temirbank declares that has executed all necessary payments for end of re-structuring of debts. As a result the bank has reduced the debts almost twice, from 1,4 billion dollars till 700 million dollars, and state fund Samruk-Kazyna – 79,9 % became its main shareholder. 20% more of shares remained with creditors, and an order of 0,1 % – at former shareholders.

       The last, on September, 1st, 2010, re-structuring process has finished BТА bank. By its results the bank debt was reduced from 12,2 to 4,4 billion dollars.

     After re-structuring creditors became shareholders of bank, and on their share 18,5 % of a share capital are coming. Fund Samruk-Kazyna is the basic shareholder owning others of 81,48 % of a share capital of bank. On a share of monitaries 0,02 % of shares are coming.

     As experts now ascertain, the Kazakhstan bank system has sustained the crisis, and a sharp phase is behind. Many banks have already developed and adhere to new more conservative strategy of development. However the bank sector is still deprived a possibility of high-grade carry out of the basic function – to finance of economy. Shortage of reliable borrowers is felt in each bank. In spite of the fact that the majority of banks predict increase in a credit portfolio at 5-10 % till the end of the year, upon their loan portfolio continues to decrease. [10]

     Early to say that world financial crisis is finished also it became irreversible. Risks still remain, and Kazakhstan as the part of world economic system, also can be subject to repeated waves of this phenomenon.

     At the same time the experience developed in the country, shows, it is impossible what to relax and it is necessary to undertake the preventive measures, capable to protect a country financial system henceforth.

     "The Concept of development of financial sector of Republic Kazakhstan during the post crisis period" confirmed by the Decree of the President on February, 1st, 2010 is one of such measures.

     All perspective directions of development of financial sector are in detail enough registered in the given document on the near future.

     As a whole, the Concept solves following problems:

- increase of stability of financial sector;

- creation of conditions on a non-admission of lacks, factors of instability and the phenomena which have been found out during current financial and economic crisis;

- stimulation of investment activity during the post crisis period as tool of realization of macroeconomic decisions;

- trust strengthening to financial sector of the country both from investors, and from consumers of financial services.

     Within the limits of the decision of a task in view the prospect of development of financial sector of the country will be connected with use, both internal resources of economy, and external loan. Thus the priority will be given to the first making.

     Besides, the role of the state regarding supervision and regulation over a financial system will amplify. It is connected so that at early stages to reveal, prevent and overcome system risks and their displays. From the state procedures on maintenance of a transparency of the activity which is carried out by the financial organizations, protection of investors and consumers of financial services will be carried out also.

     Priorities in post crisis development of financial sector of Kazakhstan become use of institute of state-private partnership as the basic mechanism of financing of development of national economy.

     In whole, in Kazakhstan great attention is taken away to perfection of the financial system. It is defensible, as the financial system is a basis of development of national economy without which is inconceivable the further advancement of social development of the country. [9]

 

      CONCLUSION 

     During the work following conclusions have been made.

     1. The concept of bank and bank system was defined.

     Bank - concept is ancient and its display has been connected with occurrence of thought on exchange of money, about granting of money on credit, about centralization of another's money in the hands. The word literal translation "banko" means a word "bench" where operations with money were made.

     The bank system is a wide concept covering all parties of creation and development of banks, their functions and operations on the basis of the bank legislation. The bank system differs as domestic (national), regional and world. On the basis of bank system there are conventional functional signs and principles without which functioning of the bank is impossible. The bank system in each country develops in interrelations with its economy, a direction of a society and acts as an important element in management of social and economic development of the country. The bank system, including the central bank, business banks of the second and third level, in all countries has the structure, specific features in separate operations, but is based on the conventional laws and requirements in banking.

     2. Research of structure.

     In the Republic of Kazakhstan the bank system is two-tired.

     3. Definition of current basic problems.

     • decrease in possibilities of domestic banks to involve external financial resources, hence, there was a reduction of volumes of crediting of internal economy;

     • decrease in rates of growth of actives and reduction of volumes of capitalization of banks;

     • were problems with repayment of external obligations.

     At present, the bank system is an important link of domestic economy. Owing considerable accumulation of money resources, banks can make considerable impact on a rate of national currency, and on inflow of money in treasury, by operations with the state securities.

     In the conditions of market economy the market of loan capitals represents itself as the original pump which is pumping out temporarily free financial resources from one spheres of economic activities and on them in other, providing, in particular, higher profit. For this reason one of the major problems of state regulation of bank system — rational definition of economic priorities and stimulation of attraction of credit resources in those branches or the regions, the accelerated development of which is objectively necessary from a position of national interests, instead of exclusively current benefit of separate subjects of managing. Process of concentration of the capital is a necessary condition of stability development of economy and the priority purpose of any subject of managing.

     With occurrence in the country of banking establishments of non-state type - the commercial banks, organized in the form of joint-stock companies, functioning on commercial principles, the beginning of other model of the organization of the credit business, which distinctive feature - the organization of credit business in frameworks and on the basis of involved with banks in the form of deposits of resources is necessary. Thereby basically possibility of unlimited granting of credits as it practiced the state specialized banks, including on a gratuitous basis, for a covering of financial breaks and mismanagement is excluded. The organization of credit business on commercial the beginnings has led to working out of other approaches to a technique and criteria of crediting, revision of traditional installations.

     Studying and generalization of world experience in bank management studying of classical tools and development of tools of the bank management comprehensible in republic, are actual today, undoubtedly, professional level of bankers grows in republic, more and more experts seize new tools of the financial market, managers of banks more actively study ways of transition from traditional to system approaches of management of bank activity, new systems of indicators for monitoring of a financial condition of bank take root, classical tools of management of actives and passives accustom, experience of an establishment of limits for banks - partners with application of various restrictions is studied. Ways of a real estimation of profitableness imitation items of expenditure and the general ways of rationalization of incomes and expenses take root.

 

      REFERENCES 

1 Развитие банковской системы, www.zhol.kz

2 Закон  Республики Казахстан О Национальном Банке Республики Казахстан

от 30 марта 1995 года № 2155

3 Раева  Р. О банковской системе Казахстана, журнал Банки Казахстана, №6, 2001

4 Закон Республики Казахстан О банках и банковской деятельности в Республике Казахстан от 31 августа 1995 года № 2444

5 Закон Республики Казахстан Об акционерных обществах от 13 мая 2003 года № 415-II 

6 Current state of the RK banking system in tables and charts at 1 January 2010, www.afn.kz

7 Current state of the RK banking system in tables and charts at January 1, 2008, at 1 January 2009, at 1 January 2010, www.afn.kz

8 Мониторинг Аналитики, www.afk.kz

9 Финансово-банковская система РК в период кризиса и перспективы ее     развития, www.inap.kz

10 Ромазанов A. Банки: история одного кризиса, www.kursiv.kz