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Fitch Ratings: CIS banks credit system stabilized

30 July 2011 10:50 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. According to Fitch Ratings, credit worthiness of many CIS and Georgian banks was stabilized in the first half of this year. Analysts said similar situation was expected to be observed in the second half of this year and 2012.

CIS countries have different recovery levels of bank systems. For example, most suffered banks were in Kazakhstan and Ukraine in the crisis period, but Russian and Georgian credit organizations improved their conditions in 2010 and had higher indexes than other banks of the region in 2011. The indexes of Azerbaijan banks are higher than credit organizations of Kazakhstan and Ukraine, but lower that Russian and Georgian.

The crisis had no serious effect on Uzbek banks. Devaluation hit the economy of Belarus last May created many problems for the banking system of this country. There is stable forecast for the CIS banking system, but forecast for the Belarus banks is negative.