Baku, Azerbaijan, June 5
By Ali Mustafayev – Trend:
The average rate on loans in tenge for business in Kazakhstan continues to decline gradually, amounting to 12.2 percent in April 2018, the deputy chairman of the National Bank of Kazakhstan Alpysbai Akhmetov said at the meeting of the Finance and Budget Committee of the Kazakh Senate, according to the bank's press service.
"The issuance of new loans in January-April increased by 27.7 percent, or by 814.3 billion tenge, compared to the same period of the previous year. As a result, the loan portfolio of banks increased by 12.1 percent year over year," Akhmetov said.
Deposits in Kazakhstan’s national currency increased by 2.4 percent in January-April 2018, amounting to 9.4 trillion tenge. In foreign currency, this indicator decreased by 8 percent, to 7.7 trillion tenge.
Akhmetov also stressed that the National Bank implements a number of initiatives to ensure long-term lending, including the extension of the funding period for banks, which will allow banks to have a longer and more predictable funding.
"1.2 trillion tenge is the amount of loans that the participants of the Recovery Program will give out to the banks," the deputy chairman of the National Bank commented.
Exchange rate for June 5, 2018: $1 – 330 tenge
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