Baku, Azerbaijan, Oct. 13
By Elena Kosolapova - Trend:
The total amount of consumer loans granted to individuals, has reached 2.64 trillion tenge (274.95 tenge = $1) following the results of August in Kazakhstan, according to the Ranking.kz analytical service.
The growth of this index for the month amounted to 52.8 billion tenge and 122.9 billion tenge for the year (August 2014-August 2015).
By comparison, the growth of the size of consumer loans given to individuals in Kazakhstan for August 2012-August 2013 amounted to 661.4 billion tenge and 551.4 billion tenge for August 2013-August 2014.
At the same time, the average monthly growth rate of the portfolio of consumer loans to individuals decreased - in January-August 2015, it grew by only 0.4 percent in the month. This is eight times less than 2013 and 3.5 times less than 2014.
A significant portion of this market is still concentrated in Almaty and Astana. The combined share of megacities in consumer lending market of Kazakhstan increased from 46.2 percent to 47.6 percent for the year. This is due to a higher level of solvency of the population, business activity, rendering service to customers from regions.
Reduced consumer lending is observed only in the South Kazakhstan and Kyzylorda regions - 3.7 billion tenge and 2.2 billion tenge decrease, respectively.
The volume of consumer loans issued in Kazakhstan for one employee as of late August amounted to 421,400 tenge. The average index for the regions (excluding big cities) is 295,000 tenge, which is equal to 2.6 part of the average monthly salary (in metropolitan areas - 5.5 part).
Overall debt burden on consumer loans in Kazakhstan has stabilized, despite the revival of the market. In the second quarter of 2015, the volume of consumer loans per employee was comparable to 3.2 part of the average monthly salary. At the end of 2014, this figure was at the level of 3.5 part of the average monthly salary.
edited by CN
---
Follow the author on Twitter: @E_Kosolapova