Kazakh banks increase economy crediting by 5.9 percent in first half-year

Business Materials 9 August 2013 13:41 (UTC +04:00)
Kazakh banks increased economy crediting by 1.7 percent to 10.545 trillion tenge (153.12 tenge = $1) in June

Azerbaijan, Baku, Aug. 9 / Trend E. Kosolapova/

Kazakh banks increased economy crediting by 1.7 percent to 10.545 trillion tenge (153.12 tenge = $1) in June, Novosti-Kazakhstan reported with the reference to Kazakh National Bank.

This figure has increased by 5.9 percent since the beginning of 2013.

The volume of credits provided in national currency increased by 0.2 percent up to 7.550 trillion tenge in June (a 7.2 percent increase in the first six months of 2013), the volume of credits issued in foreign currency increased by 5.4 percent to 2.995 trillion tenge (a 2.7 percent increase since the beginning of 2013). The share of loans in national currency decreased from 72.6 percent in May to 71.6 percent in June.

Long-term loans increased by 1.7 percent to 8.570 trillion tenge in the reporting period, while short-term loans increased by 1.3 percept to 1.975 trillion tenge. The share of long-term loans increased from 81.2 percent in May to 81.3 percent in June.

The volume of loans issued to legal entities increased by 1.2 percent to 7.324 trillion tenge in June, to individuals - by 2.6 percent to 3.221 trillion tenge. The share of loans to individuals increased from 30.3 percent in May to 30.5 percent in June.

Small businesses crediting increased by 1 percent in June and by 4.4 percent in the first six months of 2013 to 1.474 trillion tenge, hitting 14 percent of all loans to the economy.
The majority of credits were provided to such areas of economy as trade (19.7 percent of all issued loans), construction (13.2 percent), industry (11.9 percent), transport (3.8 percent) and agriculture (3 percent).

In June, the average interest rate for loans provided in national currency to non-bank legal entities hit 10.3 percent and to individuals - 19.5 percent.