Kazakh banks increase loan support of industrial sector
Baku, Azerbaijan, June 1
By Ali Mustafayev – Trend:
The banks of Kazakhstan strengthen the loan support of the country’s industrial sector.
The volume of loans issued for the industrial projects, increased by 6.6 percent over the year, to 1.9 trillion tenge, as of April 2018, Energy Prom reported.
The largest amount of loans accounts for the processing industry (1.3 trillion tenge), increasing by 6 percent in April 2018, compared to April 2017.
The mining industry received 339.1 billion of loans, which is 1.2 percent more year over year.
The largest volume of loans was issued to such priority areas as the food industry (23.7 percent), metallurgy (22.5 percent) and machine building (15.8 percent).
The volume of crediting of metallurgical projects in Kazakhstan increased by 33.6 percent, up to 293.8 billion tenge, over the mentioned period.
Loan support of machine building in April 2018 also increased by 26.5 percent, amounting to 205.9 billion tenge year over year.
Crediting of the food industry, in turn, decreased by 0.9 percent, to 309.8 billion tenge.
Overdue loans of the processing industry account only for 4.6 percent of the total loan portfolio of Kazakh banks.
Exchange rate for June 1, 2018: $1 - 329 tenge