Astana, Kazakhstan, Jan. 14
By Daniyar Mukhtarov - Trend:
In Kazakhstan, credit instruments on housing are becoming more popular than mortgages, according to the analytical service Ranking.kz.
"In January-November 2014, banks issued mortgage loans totaling 217.5 billion KZT ($1 - 183, 55 KZT), 37 percent (80.6 billion KZT) were issued by "Zhilstroysberbank." For 2014, the mortgage portfolio of Kazakh banks increased by only 6 percent, to 914 billion KZT," said the experts.
Currently in Kazakhstan, housing loans are issued by 27 banks.
"During this period, Zhilstroysberbank, an institution of development of the savings system, increased its loan portfolio by 18 percent to 213 billion KZT," analysts said. "Thus, its share on the mortgage market has increased from 21 percent to 23 percent. For the first 11 months of 2014, the State Bank has issued more than 15,000 loans. The share of an average loan amounted to 5.3 million KZT."
Edited by CN