Volume of issued loans up in Kazakhstan
Baku, Azerbaijan, July 27
By Leman Zeynalova – Trend:
The volume of issued loans in Kazakhstan in the first half of 2018 stood at 6.1 trillion tenges, or 27 percent more than in the same period in 2017, said a message from the Association of Financiers of Kazakhstan.
A total of 1.3 trillion tenges worth of loans have been issued as of June 2018, which is the record high amount over the last 3.5 years.
The Association said that lending in the country is accelerating gradually against the backdrop of the active lowering of the base rate by the National Bank of Kazakhstan, slowing inflation and some improvement in the economy.
“The loan portfolio of second-tier banks has increased by 84.5 billion tenges (an increase by 0.6 percent) and amounted to 13.5 trillion tenges as of June 2018,” said the message.
In addition, the loans in foreign currency accounted for 24.6 percent (a decrease by 0.1 percent for June) of the total volume of issued loans as of early July.
The share of all loans with delays in payment in the system has decreased from 14.6 percent to 14.2 percent in H12018. At the same time, problem loans more than 90 days overdue have decreased from 9.3 percent to 8.8 percent.
The decrease of problem loans in Kazkommertsbank (down by 38.6 billion tenges) and RBK bank (down by 8 billion tenges) had a positive impact on the overall reduction of problem loans in Kazakhstan, according to the Association of Financiers.
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