PKB explains the conditions under which this state is allocated
The First Credit Bureau informed the Kapital.kz Business Information Center that 1,162,038 borrowers have executed 1,262,720 contracts with the status “Recovered”.
PCB explained that on April 9, 2021, the amendment to the Financial Market Supervision and Development Agency Resolution No. 53 came into effect On the issue of credit recovery. Now, the restoration status of the loan contract is calculated by the credit bureau and displayed in the credit report of the PCB. The “recovered” status is assigned to the loan contract, not to the individual. On April 9, 2021, all loans that have been closed since 2005 were allocated and restored to the state. The process is carried out every day and is displayed in the borrower’s credit history.
Only when all the conditions are met at the same time, the status “repaired” is assigned to the loan contract of the borrower:
-The loan is overdue for more than 90 days within the validity period;
-The loan has been repaid in full;
-From the date of loan repayment, other loans have not been delayed more than 30 days within 12 months, or there are no other loans at all during this period.
Debts owed to set-top boxes and organizations that carry out microfinance activities can be restored.
If the loan is outstanding (repaid) or outstanding for 12 months, or other loans are delayed for more than 30 days during the 12 months, this status will not be assigned.
The First Credit Bureau clarified that from the entire database, it analyzed the loans of more than 9 million borrowers. According to the restoration process, the following states are assigned:
-32,857,896 loans for 7,052,248 citizens of Kazakhstan do not need to be restored (that is, no delay or less than 90 days is allowed during the loan period);
-710,247 contracts of 509,913 borrowers do not need to be restored (that is, the closure of these contracts was delayed for more than 90 days, but within 12 months, the borrower defaulted on other loans, which does not include the possibility of restoration).
At the expiration of the 12 calendar months after the loan is repaid, the recovery status will be allocated once and will not be changed in the future. PKB pointed out that the state of rehabilitation does not give the right to zero delay.
“Financial institutions make independent decisions to issue new loans to borrowers who have resumed loans. Today, creditors use the credit report of the First Credit Bureau when issuing loans, credit cards, and installment cards. The report has shown that the contract has been resumed. status.
Kazakhs can check their status in their personal credit report, which can be obtained online through the e-government portal egov.kz, the PCB 1cb.kz mobile application, the Internet Bank of Bank CenterCredit, and the 1cb.kz website, as well as on the PSC and Offline in Kazpost branch. Consultation about the rehabilitation status can be obtained from the PKB chatbot in WhatsApp Messenger at +7 708 971 3934.
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