Kazakh banks increase lending to small businesses
Astana, Kazakhstan, Nov.10
By Daniyar Mukhtarov - Trend:
Kazakh banks have increased the volume of loans issued to small businesses, Ranking.kz analytical service said.
"The loan portfolio of Kazakh banks for small businesses has increased by 4.7 percent and stood at 1.7 million KZT (180.87 KZT = $1) in September. The average monthly growth rate of the volume of loans issued to small companies is equal to 3 percent in 2014," Ranking.kz said.
By comparison, the average monthly growth rate of the volume of loans issued to small businesses was equal to 0 percent in 2013, according to the analytical service.
The volume of bank lending to small businesses has increased in 11 regions of Kazakhstan.
Two third of banks' portfolio is concentrated in megalopolises. Almaty and Astana account for 54 percent and 12.7 percent of the total volume of lending to small businesses respectively, according to Ranking.kz.
Edited by CN