Leasing in Kazakhstan: post crisis experience April 2010

2007: Overheated economy TOP 5 Banks in CIS: 2 of them are from Kazakhstan Total foreign debt of Kazakhstani banks - $46 bn. or 50% of GDP Excessive financing of residential construction sector 1

Leasing Market Forecast 21,1 85,2 172, F CAGR = 111% USD, mln.

2008: Crisis Liquidity shortage Bank Interest rates increased from 10-12% to 18-20% Non performing portfolio of leasing companies 30-50% 1

Post crisis years Liquidity excess Volume of new business decreased ~ 5 times Total portfolio of leasing companies decreased 30-50% Excess of construction equipment on the market 1

Post crisis learnings Immediate recognition of losses Portfolio concentration Industry financing limits Discipline 1

Coping with the problems Changing business model Scope of services Geographic expansion 1

Contact info ARMAN SHARIPOV, CFO HALYK LEASING (ХАЛЫК ЛИЗИНГ) 98 Zheltoksan Ave. Almaty, Kazakhstan