| Kazakhstan's JSC Alliance Bank said it ceased issuing personal instalment loans to customers on Jan 15 and introduced a new lending programme consisting of revolving credit cards in order to address analyst concerns about increased customer default risk.
The launch was originally scheduled for spring 2008, but the process was hastened after the bank decided to review its lending policy because of current economic conditions. 'Our most important objective is to maintain a high level of liquidity, the quality of our loan portfolio and our favourable profitability ratio,' bank chairman Dauren Kereibayev said in a statement. 'This new consumer lending model will enable us to meet our 2008 targets in terms of business volume and profit on the back of the continuing corrections in the world financial markets.'
The bank also said it will issue credit cards to customers with good credit histories.
Source:-http://www.forbes.com/markets/feeds/afx/2008/02/07/afx4627531.html |
