Baku, Azerbaijan, July 28
By Elena Kosolapova:
Kazakh banks reduced economy funding by 1.7 percent since the beginning of 2016, the country’s National bank reported.
The volume of credits issued in June rose by 0.2 percent compared to May to 12.46 trillion tenge (352 tenge = $1).
The volume of credits in national currency increased by 0.7 percent to almost 8.16 trillion in June (2.9 percent decrease since the beginning of 2016). The volume of loans in foreign currency decreased by 0.6 percent to 4.3 trillion in June (0.6 percent growth since the beginning of 2016). The share of loans in tenge hit 65.5 percent in June compared to 66.3 percent in December 2015 and 65.2 percent in May 2016.
The volume of loans to legal entities increased by 0.2 percent to 8.46 trillion tenge in June (0.5 percent decline in Jan- June), to individuals rose by 0.3 percent to 3.99 trillion tenge (4.1 percent decline in Jan- June). The share of loans to individuals in the reporting month remained unchanged compared to the previous month at 32 percent. At the beginning of 2016 the share of loans to individuals was at 32.9 percent.
Lending to small businesses increased by 0.4 percent to 2.72 trillion tenge in June 2016 and 32 percent since the beginning of 2016.
As much as 21.1 percent of issued credits fall on trade sphere, 12.8 percent – on industry, 8.2 percent – on construction, 5.7 percent – on agriculture, 4.7 percent – on transport sphere.
An average interest rate on loans issued in national currency to legal entities amounted to 16.3 percent in June compared to 16.5 percent in May. An average interest rate on loans issued in national currency to individuals hit 19 percent in June compared to 18.2 percent in May.
Edited by SI
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