Banks increase lending to industrial sector of Kazakhstan
Baku, Azerbaijan, Jan. 17
By Nigar Guliyeva – Trend:
The bank loans directed to the industrial sector of Kazakhstan reached 1.9 trillion tenge in November 2017.
The banks increased lending to the industrial sector by 2.3 percent compared to October 2017 and by 8.5 percent compared to November 2016, Energyprom.kz reported.
The biggest volume of loans, 1.3 trillion tenge, was traditionally issued to processing sector (an increase of 6.3 percent year-on-year). The mining industry received loans worth 368.7 billion tenge (an increase of 7.7 percent during the year), other industries - 281.3 billion tenge (an increase of 21.3 percent during the year).
Against the backdrop of the growth of the loan portfolio, its qualitative indicators also grew: so, the volume of bad loans fell by 30.7 percent to 114.6 billion tenge, which is 5.9 percent of the total loan portfolio.
The lending to the industrial sector is also promoted by the state development program. The state program on industrial and innovative development for 2015-2019 is aimed at supporting the processing sector. In addition, the processing segment is included in the priority sectors for support under the Business Road Map 2020.
In the processing segment, the largest loans are concentrated in the food industry.
(327.89 KZT = 1 USD on Jan. 17)