Astana, Kazakhstan, Oct.18
By Daniyar Mukhtarov - Trend:
Loans for the purchase of fixed assets, mortgage, construction and reconstruction amounted to only 10 percent or 93.3 billion tenge ($1 - 181, 8 tenge) in Kazakhstan during August, according to Ranking.kz.
"The total volume of credit tranche of banks to Kazakhstan's economy has exceeded 921 billion tenge," the analysts said.
"Some 60.5 percent (557.6 billion tenge) of them were added to the circulating assets. About 36 percent of the loan tranche account for consumer needs of citizens (201.5 billion tenge)."
Tranche has not provided for the total loan growth. On the results of August, the total amount of bank loans to the economy decreased by 0.1 percent to 12.2 trillion tenge.
It was caused by the following factors: delinquent loans are actively written off in the sector; in addition, a significant amount of credits goes through overdrafts (cycle of loan repayment - less than a month).
Thus, the credit tranche in August consisted of short-term borrowings (566.4 billion tenge) by 62 percent.
The retail consumption and maintaining business processes in terms of purposes of use of credits already amount to 46.8 percent (5.7 trillion tenge) in the banks' portfolios. It was 43.8 percent (4.7 trillion tenge) a year ago.
"The share of loans for construction and reconstruction (13.7-12.7 percent for the year) and mortgage loans (8.7-8.3 percent for the year) decrease in total loans volume," analysts said.