Kazakh banks reduce lending to economy
Baku, Azerbaijan, May 16
By Elena Kosolapova - Trend:
Kazakh banks have reduced the lending to the country's economy by 0.4 percent in March 2016, read a message from Kazakhstan's National Bank May 16.
This is while the lending to economy by Kazakh banks has decreased by 1.5 percent since early 2016.
Kazakh banks issued 12.49 trillion tenges (329.11 tenges = $1) worth loans to the country's economy in March.
The volume of loans issued in national currency dropped by 0.7 percent in a month and stood at 8.11 trillion tenges (a 3.5 percent decrease since early 2016), while those issued in foreign currency increased by 0.3 percent and stood at 4.38 trillion tenges (a 2.4 percent increase since early 2016).
The long-term lending to economy by the banks stood at 10.3 trillion tenges as of late March 2016, while the short-term lending totalled 2.19 trillion tenges.
The volume of loans issued to legal entities in March 2016, rose by 0.2 percent and stood at 8.49 trillion tenges (a 0.2 percent decrease since early 2016), while the volume of loans issued to individuals dropped by 1.6 percent and stood at 3.99 trillion tenges (a 4 percent decrease since early 2016).
The lending to small business entities in Kazakhstan increased by 6.6 percent in March 2016 and stood at 2.49 trillion tenges (19.9 percent of the total volume of lending to economy).
The considerable amount of loans issued by the banks accounted for such spheres as trade (20.7 percent of the total volume of lending to economy), industry (13.5 percent), construction (8 percent), agriculture (5.8 percent) and transportation (5 percent).
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