Deposits of individuals rise sharply in Kazakh banks
Baku, Azerbaijan, Nov. 30
By Elena Kosolapova - Trend:
Commercial banks of Kazakhstan have attracted 3 trillion tenge (307.2 tenge = $1) on the background of the devaluation process in September 2015, a record volume of deposits of physical persons for the year, which is 17 percent higher than in August 2015, according to the Ranking.kz analytical service.
The tenge exchange rate began falling after the National Bank abolished the currency corridor and switched to the inflation targeting regime to implement the new monetary policy August 20. In July, the rate was 186 tenge per dollar.
In connection with the depreciation of the tenge rate, the volume of deposits in the banks of Kazakhstan in foreign currency in September rose by 14 percent to 4.35 trillion tenge, the analytical service said.
The volume of tenge deposits of the population in the second-tier banks of Kazakhstan, on the contrary, decreased by 2 percent to 1.35 trillion tenge over the last month.
During the reporting period, only 9 banks out of 33 banks in Kazakhstan, which enter the system of collective insurance, have increased the volume of deposits in tenge. The Housing Construction Savings Bank showed the largest increase in the sector in September in the amount of 2.2 billion tenge.
The bank is the operator of the system of housing construction savings, and its entire deposit portfolio is nominated in tenge. The bank's share in the total volume of tenge deposits in Kazakhstan has increased from 20.3 percent to 20.9 percent.
The Bank CenterCredit, which increased the size of the tenge deposit portfolio from 0.8 billion tenge to 98.9 billion tenge for the month, took the second place. The share of deposits in tenge in the structure of deposit portfolio of the bank decreased to 22.8 percent.
The Tsesnabank, in which the volume of the tenge deposits of the population in September rose by 0.5 billion tenge to 50.1 billion tenge, took the third place. The deposits nominated in tenge in September accounted for only 13.2 percent, which is 1.4 percent lower than a month earlier.
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