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Structure and Stability of the Kazakhstan Banking System

Yıl 2022, Cilt: 24 Sayı: 42, 387 - 414, 27.06.2022

Öz

One of the most important prerequisites for ensuring economic stability is the existence of effective and stable financial markets, financial institutions and payment systems. In this context, today, central banks have placed financial stability among their main policy priorities as well as price stability. In this study, the banking system, which is one of the most important institutional structures of the financial system, was evaluated in terms of historical, institutional perspective and stability in the Republic of Kazakhstan, and the stability/soundness levels of the banks operating in the country were analyzed with 4 different financial distress forecasting methods for the post-2008 period. According to the results of the analysis, the Kazakhstan banking sector was significantly affected by the 2008 crisis, the soundness indicators of the sector had their lowest values in 2009, it started to recover in the next year, after this date, although there were small-scale deteriorations for some years, it showed a moderately healthy image until 2017. In addition, no serious instability could be detected due to the destruction caused by the Covid-19 pandemic on a global scale in the sector, which started to recover after the decline in 2017. It is seen that non-performing loans came to the forefront as one of the most important financial problems of the sector during the period under consideration.

Kaynakça

  • ADB. (2021). Key Indicators for Asia and the Pacific 2021, Asian Development Bank, Manila.
  • Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, (2021), https://www.gov.kz/memleket/entities/ardfm/about?lang=en, (10.12.2021).
  • Aksoy, E. E. A. and Göker, İ. E. K. (2018). Bankacılık Sektöründe Finansal Risklerin Z-Skor ve Bankometer Metodlari ile Tespiti: BİST’te Işlem Gören Ticari Bankalar Üzerine Bir Araştırma, Muhasebe Bilim Dünyası Dergisi, 20(2), 418-438.
  • Al Zaabi, O. S. H. (2011). Potential for the Application of Emerging Market Z‐Score in UAE Islamic Bank, International Journal of Islamic and Middle Eastern Finance and Management, 4(2), 158-173.
  • Altman, E. I. (2002). Revisiting Credit Scoring Models in a Basel 2 Environment, NYU Working Paper, No. S-F1-02-11.
  • Altman, E. I. (2013). Predicting Financial Distress of Companies: Revisiting the Z-Score and ZETA® Models, Handbook of Research Methods and Applications in Empirical Finance in (pp. 428-456), Edward Elgar Publishing.
  • Altman. E.I. (1968). Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy, Journal of Finance, 23(4), 589-609.
  • Anichshenko, V. (2009). The Impact of the Financial Crisis on the Banking System of Kazakhstan, Central Asia Business Journal, 2, 66-70.
  • ARDFM RK. (2021a). Report of the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market for 2020, Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, Almaty.
  • ARDFM RK. (2021c). Current State of the Banking Sector of Kazakhstan, Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, December, Almaty.
  • Aymanns, C., Farmer, J. Doyne, K., Alissa, M., and Wetzer, T. (2018). Models of Financial Stability and Their Application in Stress Tests, Handbook of Computational Economics, 4, 329-391.
  • Başarır, Ç. and Toraman, C. (2014). Financial Stability Analysis in Banking Sector: A Stress Test Method, Muhasebe ve Finansman Dergisi, Nisan, 129-144.
  • Begaliyev, Y. (2006). Kazakistan Bankacılık Sistemi: Uluslararası Bankacılık Standartlarına Uyum Süreci ve Sonuçları. (Yayımlanmamış Yüksek Lisans Tezi). İstanbul Üniversitesi Sosyal Bilimler Enstitüsü, İstanbul.
  • Bhatti, R. H. (2013). Testing Technical and Scale Efficiency of Kazakh Banks: Evidence Based on Data Envelopment Analysis, International Journal of Economics and Finance Studies, 5(1), 271-282.
  • Bolat, A. (2017). Evaluating the Current Financial State of Banking Sector in Kazakhstan using Altman’s Model, Bankometer Model, Revista Espacios 38 (48).
  • Budiman, T., Herwany, A., and Kristanti, F. T. (2017). An Evaluation of Financial Stress for Islamic Banks in Indonesia using a Bankometer Model, Journal of Finance and Banking Review, 2(3), 14-20.
  • De Haas, R., Ferreira, D. and Taci, A. (2010). What Determines the Composition of Banks Loan Portfolios? Evidence from Transition Countries, Journal of Banking and Finance, 34, 388-398.
  • Delis, M. D., Molyneux, P. and Pasiouras, F. (2011). Regulations and Productivity Growth in Banking: Evidence from Transition Economies, Journal of Money, Credit and Banking, 43(4), 735-764.
  • Diaconua, R-I. and Oanea, D-C. (2014). The Main Determinants of Bank’s Stability: Evidence from Romanian Banking Sector, Procedia Economics and Finance, 16, 329-335.
  • Eberle, P. (2019). Distress in the Banking System: A Look Back at the Nonperforming Loans Experience in the Republic of Kazakhstan, Journal of Finance and Accountancy, July, 25, https://www.aabri.com/manuscripts/182948.pdf, (10.03.2022).
  • Gaganis, C., Pasiouras, F., Doumpos, M., and Zopounidis, C. (2010). Modelling Banking Sector Stability with Multicriteria Approaches, Financial Engineering Laboratory Technical University of Crete, Working Paper No. 2010.01.
  • Garifollaevna, I.G. and Bauirzhanovna, B.A. (2019). Monetary Policy of the Republic of Kazakhstan, Humanities & Social Sciences Reviews, 7(5), 103-110.
  • Glass, A., Kenjegalieva, K., and Weyman-Jones, T.G. (2013). Bank Performance and the Financial Crisis: Evidence from Kazakhstan, Applied Financial Economics, 24(2), 121-138.
  • Hantono, H. (2019). Predicting Financial Distress using Altman Score, Grover Score, Springate Score, Zmijewski Score (Case study on Consumer Goods Company), Accountability, 8(1), 1-16.
  • Hartmann, P., Straetmans, S. and De Vries, C. (2005). Banking System Stability: A Cross-Atlantic Perspective, European Central Bank, Working Paper Series No. 527, September.
  • Hungan, A. G. D. and Sawitri, N. N. (2018). Analysis of Financial Distress with Springate and Method of Grover in Coal In BEI 2012-2016. International Business and Accounting Research Journal, 2(2), 52-60.
  • Husein, M. F. and Pambekti, G. T. (2015). Precision of the Models of Altman, Springate, Zmijewski, and Grover for Predicting the Financial Distress, Journal of Economics, Business, & Accountancy Ventura, 17(3), 405-416.
  • Ick, F. J. and Tarigan, L. T. (2018). The Comparison of Altman Z-Score Model, Zmijewski Model, Springate Model, Fundamental Management Journal, 3(1), 44-53.
  • IMF. (2006), Financial Soundness Indicators Compilation Guide, International Monetary Fund.
  • IMF. (2021), Sectoral, Financial Statement Annexe, International Monetary Fund, (26.01.2022).
  • Jokipii, T. and Monnin P. (2013). The Impact of Banking Sector Stability on the Real Economy, Jornal of International Money and Finance, 32, 1-16.
  • Jones, P., Hillier, D., and Comfort, D. (2017). The Sustainable Development Goals and the Financial Services Industry, Athens Journal of Business & Economics, 3(1), 37-50.
  • Kaliyeva, M. (2018). Kazakistan Bankacılık Sektöründe Etkinlik Analizi. (Yayımlanmamış Yüksek Lisans Tezi). Marmara Üniversitesi Sosyal Bilimler Enstitüsü, İstanbul.
  • Kiracı, K. (2021). Covid-19, Financial Risk and the Airline Industry, Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 8(3), 1557-1581.
  • Kodasheva, G., Parusimova, N., Rispekova, M., and Uchkampirova, A. (2017). Actual Problems of Development of the Banking Sector in the Economy of Kazakhstan, Banks and Bank Systems, 12(3), 257-268.
  • Kozmenko, O. and Kuzmenko, O. (2013). Modeling the Stability Dynamics of Ukrainian Banking System, Munich Personal RePEc Archive (MPRA), Paper No. 50841.
  • Mukumov, A. (2018). Kazakistan Tüketicilerinin Kredi Kartı Kullanımı Tutumları, Sadakat Programları ve Kredi Kartı Kullanım Eğilimi İlişkisi. (Yayımlanmamış Yüksek Lisans Tezi). İstanbul Kültür Üniversitesi Sosyal Bilimler Enstitüsü, İstanbul.
  • NBK. (2021a). Report of the National Bank of the Republic of Kazakhstan for 2020, National Bank of of Kazakhstan, Nur-Sultan.
  • NBK. (2021b). National Bank of the Republic of Kazakhstan Consolidated Financial Statements for the Year Ended 31 December 2020, National Bank of of Kazakhstan, Nur-Sultan.
  • NBK. (2021c), https://www.nationalbank.kz/en/page/otchet-o-finansovoy-stabilnosti-kazahstana, (11.12.2021).
  • NBK. (2021d), https://www.nationalbank.kz/en/news/smi-o-nas/12568 (10.12.2021).
  • Ntarmah, A. H., Kong, Y., and Gyan, M.K., (2019). Banking System Stability and Economic Sustainability: A Panel Data Analysis of the Effect of Banking System Stability on Sustainability of Some Selected Developing Countries, Quantitative Finance and Economics, 3(4), 709-738.
  • Ohlson, J. A. (1980). Financial Ratios and the Probabilistic Prediction of Bankruptcy, Journal of Accounting Research, 18(1), 109-131.
  • Onyema, JI, Okey, N, Precious, O. and Amadi SN. (2018). Evaluation of Financial Soundness of Selected Commercial Banks in Nigeria: An Application of Bankometer S-Score Model, Journal of Finance and Marketing, 2(4), 22-25.
  • Ordabayeva, A., (2007). Kazakistan ve Türkiye Bankacılık Sisteminin Karşılaştırmalı Analizi, Ankara Üniversitesi Sosyal Bilimler Enstitüsü, İşletme Anabilim Dalı, Yayımlanmamış Yüksek Lisans Tezi, Ankara.
  • Ouma, M. O., and Kirori, G. N. (2019). Evaluating the Financial Soundness of Small and Medium-Sized Commercial Banks in Kenya: An application of the Bankometer Model, International Journal of Economics and Finance, 11(6), 93-100.
  • Özbek, Ö. E., Hazar, A., and Babuşcu, Ş. (2021). Covid-19 Öncesi ve Sonrasi Türk Bankacilik Sektörünün Bankometer Yöntemi ile Analizi, Ufuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 10(20), 7-26.
  • Phan, H.T., Anwar, S., Alexander, W.R.J., and Phan, H.T.M. (2019). Competition, Efficiency and Stability: An Empirical Study of East Asian Commercial Banks, The North American Journal of Economics and Finance, 50(C), 1-17.
  • Prihanthini, N. M. E. D., and Sari, M. M. R. (2013). Prediksi Kebangkrutan Dengan Model Grover, Altman Z-Score, Springate dan Zmijewski Pada Perusahaan Food and Beverage di Bursa Efek Indonesia. E-jurnal akuntansi Universitas Udayana, 5(2), 417-435.
  • Qamruzzaman, M. (2014). Predicting Bankruptcy: Evidence from Private Commercial Banks in Bangladesh, International Journal of Financial Economics, 2(3), 114-121.
  • Rustem, O. (2021). Assessing the Influence of Finance on Economic Growth through the Prism of Investment, Credits and Money Supply, National Bank of the Republic of Kazakhstan, Monetary Policy Department Economic Review, No. 2021-8.
  • Salina, A.P. (2017). Financial Soundness of Kazakhstan Banks: Analysis and Prediction. Robert Gordon University, PhD Thesis, Aberdeen, https://rgu-repository.worktribe.com/output/248968/financial-soundness-of-kazakhstan-banks-analysis-and-prediction (13.01.2022).
  • Salttürk, O. (2019). Astana Finans Merkezi, E. Fıkırkoca, G. Altaş, C. Anıl, D. Kahraman, and O. Salttürk (Ed), Uluslararası Finans Merkezleri, in (pp. 11-24), İstanbul: Türkiye Sermaye Piyasaları Birliği Yayınları.
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Kazakistan Bankacılık Sisteminin Yapısı ve İstikrarı

Yıl 2022, Cilt: 24 Sayı: 42, 387 - 414, 27.06.2022

Öz

Ekonomik istikrarın sağlanmasının en önemli ön şartlarından birisi, etkin ve istikrarlı bir şekilde işleyen finansal piyasaların, finansal kuruluşların ve ödeme sistemlerinin varlığıdır. Bu kapsamda günümüzde merkez bankaları fiyat istikrarının yanısıra finansal istikrarı da temel politika öncelikleri arasına yerleştirmişlerdir. Bu çalışmada finansal sistemin en önemli kurumsal yapılarından biri olan bankacılık sistemi, Kazakistan Cumhuriyeti özelinde tarihsel, kurumsal perspektif ve istikrar üzerinden değerlendirmeye tabi tutulmuş, ülkede faaliyet gösteren bankaların istikrar/sağlamlık düzeyleri 2008 sonrası dönem için 4 farklı ölçüm metoduyla analiz edilmiştir. Analiz sonuçlarına göre, Kazakistan bankacılık sektörü 2008 krizinden önemli ölçüde etkilenmiş, 2009 yılında sektörün sağlamlık göstergeleri en düşük değerlerini almış, bir sonraki yıl toparlanmaya başlamış, bu tarihten sonra bazı yıllar küçük ölçekli bozulmalar olmakla birlikte 2017 yılına kadar orta derecede sağlıklı bir görüntü vermiştir. 2017 yılında yaşanan düşüşün ardından tekrar toparlanmaya başlayan sektörde Covid-19 pandemisinin küresel ölçekte oluşturduğu tahribattan kaynaklı ciddi bir istikrarsızlık tespit edilememiştir. Ele alınan dönem içerisinde sektörün en önemli finansal sorunlarından biri olarak geri dönmeyen kredilerin öne çıktığı görülmektedir.

Kaynakça

  • ADB. (2021). Key Indicators for Asia and the Pacific 2021, Asian Development Bank, Manila.
  • Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, (2021), https://www.gov.kz/memleket/entities/ardfm/about?lang=en, (10.12.2021).
  • Aksoy, E. E. A. and Göker, İ. E. K. (2018). Bankacılık Sektöründe Finansal Risklerin Z-Skor ve Bankometer Metodlari ile Tespiti: BİST’te Işlem Gören Ticari Bankalar Üzerine Bir Araştırma, Muhasebe Bilim Dünyası Dergisi, 20(2), 418-438.
  • Al Zaabi, O. S. H. (2011). Potential for the Application of Emerging Market Z‐Score in UAE Islamic Bank, International Journal of Islamic and Middle Eastern Finance and Management, 4(2), 158-173.
  • Altman, E. I. (2002). Revisiting Credit Scoring Models in a Basel 2 Environment, NYU Working Paper, No. S-F1-02-11.
  • Altman, E. I. (2013). Predicting Financial Distress of Companies: Revisiting the Z-Score and ZETA® Models, Handbook of Research Methods and Applications in Empirical Finance in (pp. 428-456), Edward Elgar Publishing.
  • Altman. E.I. (1968). Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy, Journal of Finance, 23(4), 589-609.
  • Anichshenko, V. (2009). The Impact of the Financial Crisis on the Banking System of Kazakhstan, Central Asia Business Journal, 2, 66-70.
  • ARDFM RK. (2021a). Report of the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market for 2020, Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, Almaty.
  • ARDFM RK. (2021c). Current State of the Banking Sector of Kazakhstan, Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, December, Almaty.
  • Aymanns, C., Farmer, J. Doyne, K., Alissa, M., and Wetzer, T. (2018). Models of Financial Stability and Their Application in Stress Tests, Handbook of Computational Economics, 4, 329-391.
  • Başarır, Ç. and Toraman, C. (2014). Financial Stability Analysis in Banking Sector: A Stress Test Method, Muhasebe ve Finansman Dergisi, Nisan, 129-144.
  • Begaliyev, Y. (2006). Kazakistan Bankacılık Sistemi: Uluslararası Bankacılık Standartlarına Uyum Süreci ve Sonuçları. (Yayımlanmamış Yüksek Lisans Tezi). İstanbul Üniversitesi Sosyal Bilimler Enstitüsü, İstanbul.
  • Bhatti, R. H. (2013). Testing Technical and Scale Efficiency of Kazakh Banks: Evidence Based on Data Envelopment Analysis, International Journal of Economics and Finance Studies, 5(1), 271-282.
  • Bolat, A. (2017). Evaluating the Current Financial State of Banking Sector in Kazakhstan using Altman’s Model, Bankometer Model, Revista Espacios 38 (48).
  • Budiman, T., Herwany, A., and Kristanti, F. T. (2017). An Evaluation of Financial Stress for Islamic Banks in Indonesia using a Bankometer Model, Journal of Finance and Banking Review, 2(3), 14-20.
  • De Haas, R., Ferreira, D. and Taci, A. (2010). What Determines the Composition of Banks Loan Portfolios? Evidence from Transition Countries, Journal of Banking and Finance, 34, 388-398.
  • Delis, M. D., Molyneux, P. and Pasiouras, F. (2011). Regulations and Productivity Growth in Banking: Evidence from Transition Economies, Journal of Money, Credit and Banking, 43(4), 735-764.
  • Diaconua, R-I. and Oanea, D-C. (2014). The Main Determinants of Bank’s Stability: Evidence from Romanian Banking Sector, Procedia Economics and Finance, 16, 329-335.
  • Eberle, P. (2019). Distress in the Banking System: A Look Back at the Nonperforming Loans Experience in the Republic of Kazakhstan, Journal of Finance and Accountancy, July, 25, https://www.aabri.com/manuscripts/182948.pdf, (10.03.2022).
  • Gaganis, C., Pasiouras, F., Doumpos, M., and Zopounidis, C. (2010). Modelling Banking Sector Stability with Multicriteria Approaches, Financial Engineering Laboratory Technical University of Crete, Working Paper No. 2010.01.
  • Garifollaevna, I.G. and Bauirzhanovna, B.A. (2019). Monetary Policy of the Republic of Kazakhstan, Humanities & Social Sciences Reviews, 7(5), 103-110.
  • Glass, A., Kenjegalieva, K., and Weyman-Jones, T.G. (2013). Bank Performance and the Financial Crisis: Evidence from Kazakhstan, Applied Financial Economics, 24(2), 121-138.
  • Hantono, H. (2019). Predicting Financial Distress using Altman Score, Grover Score, Springate Score, Zmijewski Score (Case study on Consumer Goods Company), Accountability, 8(1), 1-16.
  • Hartmann, P., Straetmans, S. and De Vries, C. (2005). Banking System Stability: A Cross-Atlantic Perspective, European Central Bank, Working Paper Series No. 527, September.
  • Hungan, A. G. D. and Sawitri, N. N. (2018). Analysis of Financial Distress with Springate and Method of Grover in Coal In BEI 2012-2016. International Business and Accounting Research Journal, 2(2), 52-60.
  • Husein, M. F. and Pambekti, G. T. (2015). Precision of the Models of Altman, Springate, Zmijewski, and Grover for Predicting the Financial Distress, Journal of Economics, Business, & Accountancy Ventura, 17(3), 405-416.
  • Ick, F. J. and Tarigan, L. T. (2018). The Comparison of Altman Z-Score Model, Zmijewski Model, Springate Model, Fundamental Management Journal, 3(1), 44-53.
  • IMF. (2006), Financial Soundness Indicators Compilation Guide, International Monetary Fund.
  • IMF. (2021), Sectoral, Financial Statement Annexe, International Monetary Fund, (26.01.2022).
  • Jokipii, T. and Monnin P. (2013). The Impact of Banking Sector Stability on the Real Economy, Jornal of International Money and Finance, 32, 1-16.
  • Jones, P., Hillier, D., and Comfort, D. (2017). The Sustainable Development Goals and the Financial Services Industry, Athens Journal of Business & Economics, 3(1), 37-50.
  • Kaliyeva, M. (2018). Kazakistan Bankacılık Sektöründe Etkinlik Analizi. (Yayımlanmamış Yüksek Lisans Tezi). Marmara Üniversitesi Sosyal Bilimler Enstitüsü, İstanbul.
  • Kiracı, K. (2021). Covid-19, Financial Risk and the Airline Industry, Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 8(3), 1557-1581.
  • Kodasheva, G., Parusimova, N., Rispekova, M., and Uchkampirova, A. (2017). Actual Problems of Development of the Banking Sector in the Economy of Kazakhstan, Banks and Bank Systems, 12(3), 257-268.
  • Kozmenko, O. and Kuzmenko, O. (2013). Modeling the Stability Dynamics of Ukrainian Banking System, Munich Personal RePEc Archive (MPRA), Paper No. 50841.
  • Mukumov, A. (2018). Kazakistan Tüketicilerinin Kredi Kartı Kullanımı Tutumları, Sadakat Programları ve Kredi Kartı Kullanım Eğilimi İlişkisi. (Yayımlanmamış Yüksek Lisans Tezi). İstanbul Kültür Üniversitesi Sosyal Bilimler Enstitüsü, İstanbul.
  • NBK. (2021a). Report of the National Bank of the Republic of Kazakhstan for 2020, National Bank of of Kazakhstan, Nur-Sultan.
  • NBK. (2021b). National Bank of the Republic of Kazakhstan Consolidated Financial Statements for the Year Ended 31 December 2020, National Bank of of Kazakhstan, Nur-Sultan.
  • NBK. (2021c), https://www.nationalbank.kz/en/page/otchet-o-finansovoy-stabilnosti-kazahstana, (11.12.2021).
  • NBK. (2021d), https://www.nationalbank.kz/en/news/smi-o-nas/12568 (10.12.2021).
  • Ntarmah, A. H., Kong, Y., and Gyan, M.K., (2019). Banking System Stability and Economic Sustainability: A Panel Data Analysis of the Effect of Banking System Stability on Sustainability of Some Selected Developing Countries, Quantitative Finance and Economics, 3(4), 709-738.
  • Ohlson, J. A. (1980). Financial Ratios and the Probabilistic Prediction of Bankruptcy, Journal of Accounting Research, 18(1), 109-131.
  • Onyema, JI, Okey, N, Precious, O. and Amadi SN. (2018). Evaluation of Financial Soundness of Selected Commercial Banks in Nigeria: An Application of Bankometer S-Score Model, Journal of Finance and Marketing, 2(4), 22-25.
  • Ordabayeva, A., (2007). Kazakistan ve Türkiye Bankacılık Sisteminin Karşılaştırmalı Analizi, Ankara Üniversitesi Sosyal Bilimler Enstitüsü, İşletme Anabilim Dalı, Yayımlanmamış Yüksek Lisans Tezi, Ankara.
  • Ouma, M. O., and Kirori, G. N. (2019). Evaluating the Financial Soundness of Small and Medium-Sized Commercial Banks in Kenya: An application of the Bankometer Model, International Journal of Economics and Finance, 11(6), 93-100.
  • Özbek, Ö. E., Hazar, A., and Babuşcu, Ş. (2021). Covid-19 Öncesi ve Sonrasi Türk Bankacilik Sektörünün Bankometer Yöntemi ile Analizi, Ufuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 10(20), 7-26.
  • Phan, H.T., Anwar, S., Alexander, W.R.J., and Phan, H.T.M. (2019). Competition, Efficiency and Stability: An Empirical Study of East Asian Commercial Banks, The North American Journal of Economics and Finance, 50(C), 1-17.
  • Prihanthini, N. M. E. D., and Sari, M. M. R. (2013). Prediksi Kebangkrutan Dengan Model Grover, Altman Z-Score, Springate dan Zmijewski Pada Perusahaan Food and Beverage di Bursa Efek Indonesia. E-jurnal akuntansi Universitas Udayana, 5(2), 417-435.
  • Qamruzzaman, M. (2014). Predicting Bankruptcy: Evidence from Private Commercial Banks in Bangladesh, International Journal of Financial Economics, 2(3), 114-121.
  • Rustem, O. (2021). Assessing the Influence of Finance on Economic Growth through the Prism of Investment, Credits and Money Supply, National Bank of the Republic of Kazakhstan, Monetary Policy Department Economic Review, No. 2021-8.
  • Salina, A.P. (2017). Financial Soundness of Kazakhstan Banks: Analysis and Prediction. Robert Gordon University, PhD Thesis, Aberdeen, https://rgu-repository.worktribe.com/output/248968/financial-soundness-of-kazakhstan-banks-analysis-and-prediction (13.01.2022).
  • Salttürk, O. (2019). Astana Finans Merkezi, E. Fıkırkoca, G. Altaş, C. Anıl, D. Kahraman, and O. Salttürk (Ed), Uluslararası Finans Merkezleri, in (pp. 11-24), İstanbul: Türkiye Sermaye Piyasaları Birliği Yayınları.
  • Sanya, S.., and Wolfe, S. (2011). Can Banks in Emerging Economies Benefit from Revenue Diversification? Journal of Financial Services Research, 40(1-2), 79-101.
  • Shafitranata, R. C., and Arshed, N. (2020). Prediction of Islamic Banking Bankruptcy in Indonesia: Comparative Study of Altman Z-Score and Springate Models, Ikonomika: Jurnal Ekonomi dan Bisnis Islam, 5(2), 231-248.
  • Shar, A. H., Shah A. M. and Jamali, H. (2010). Performance Evaluation of Banking Sector in Pakistan, An Application of Bankometer, International Journal of Business and Management, 5(8), 113-118.
  • Smirnova, Y.V. (2014). Motives for Mergers and Acquisitions in the Banking Sector of Kazakhstan, J.T. Karlovitz (Ed.), Economics Questions, Issues and Problems: Proceedings of IRI Economics Conference, in (pp. 79-98), Komarno: International Research Institute.
  • Tazetdinova, D., (2020). Banking Sector of Kazakhstan under Covid-19 Crisis, Staff Consultant’s Report, Asian Development Bank, October.
  • TCMB, (2015). Finansal İstikrar: Türkiye’de Finansal İstikrar Gelişmeleri, Türkiye Cumhuriyet Merkez Bankası, Ankara.
  • Thuy, T.P., Le, K. O. D. and Van Chien, N. (2021). The Determinants of Bank’s Stability: A system GMM Panel Analysis, Cogent Business & Management, 8:1.
  • Turusbekova, M., Dauylbaev, K., Gulbakhyt K., Titko, J., and Kozlovskis, K. (2020). Competition and Stability in the Banking Sector of Kazakhstan, E3S Web of Conferences 159, https://doi.org/10.1051/e3sconf/202015904008.
  • Whalen, G., and Thomson, J. B. (1988). Using Financial Data to Identify Changes in Bank Condition. Economic Review, 24(2), 17-26.
  • Ycharts, (2021), https://ycharts.com/glossary/terms/zmijewski_score, (01.02.2021).
  • Yin, H. (2019). Bank Globalization and Financial Stability: International Evidence, Research in International Business and Finance, 49(C), 207-224.
  • Yücememiş, B., Arıcan, E. and Alkan, U. (2017). Türkiye - Özbekistan - Kazakistan Ekonomik İlişkileri ve Bankacılık Sistemi, Finansal Araştırmalar ve Çalışmalar Dergisi, 9(17), 161-203.
  • Zaitenova, N.K. and Baibulekova, L.A. (2016). Evaluation of Influence of Macroeconomic Shocks on the Banking Sector of Kazakhstan, International Journal of Economics and Financial Issues, 6(S2), 188-194.
  • Zmijewski, M. E. (1984). Methodological Issues Related to the Estimation of Financial Distress Prediction Models, Journal of Accounting Research, 22, 59-82.
Toplam 67 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm Araştırma Makaleleri
Yazarlar

Güven Delice 0000-0002-8034-8896

Hacı Ahmet Karadaş 0000-0002-3088-1107

Erken Görünüm Tarihi 21 Haziran 2022
Yayımlanma Tarihi 27 Haziran 2022
Yayımlandığı Sayı Yıl 2022 Cilt: 24 Sayı: 42

Kaynak Göster

APA Delice, G., & Karadaş, H. A. (2022). Structure and Stability of the Kazakhstan Banking System. Karamanoğlu Mehmetbey Üniversitesi Sosyal Ve Ekonomik Araştırmalar Dergisi, 24(42), 387-414.

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