Kazakh banks increase small business lending
Astana, Kazakhstan, Dec. 23
By Daniyar Mukhtarov - Trend:
The bank lending volume to small business increased by 34.9 percent to 1.7 trillion tenge in Kazakhstan in 2014, Ranking.kz. analytical service said.
"The number of small active companies increased by 4.5 percent - up to 101,300 in January-November," the service said.
The small business intensified in 15 regions for 11 months in 2014. Around 1,023 companies were registered in the active small business. South Kazakhstan (plus 8.4 percent up to 8,300 companies), Pavlodar (6.4 percent up to 4,900 companies) and Atyrau (plus 6.1 percent up to 3,600 companies) are in the lead.
The loan infusion stimulated the sector development. By October, the portfolio of loans for small business reached 1.7 trillion tenge or by 446 billion tenge more than in early 2014.
For comparison, when the loan portfolio decreased by 14.5 percent from June to October in 2013, the number of active small companies reduced by 2,300.