Kazakh national companies significantly increase debt to banks
Baku, Azerbaijan, Oct. 14
By Elena Kosolapova - Trend:
Kazakh national companies continue to gain loans from banks, according to the Ranking.kz analytical service.
"On the results of the first half of 2015, the debt of Kazakh national companies on bank loans reached a record index of 2.6 trillion tenge (274.95 tenge = $1)," said the message.
For the second quarter of 2015, the level of debt rose by 503.3 billion tenge, or 24 percent. During the year, the debt burden of national companies on bank loans increased more than fivefold, from 510.1 billion tenge in the first half of 2014.
National companies began to actively collect loans from banks a year ago, starting from the second quarter of 2014. Thus, if the debts for the second quarter 2014 increased by 2.3 times, the following increase amounted to 4.4 times.
Thus, bank loans dominate in the structure of payables of national companies, holding a share of 68 percent.
Analytical service said that the maintenance of such debt is carried out in a timely manner, since finance statistics of national companies has no indication for the presence of arrears on bank loans.
Edited by CN
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