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Volume of micro loans issued by Kazakh microfinance organizations up by over 54%

Business Materials 2 August 2018 12:29 (UTC +04:00)

Baku, Azerbaijan, August 2

By Leman Zeynalova - Trend:

The volume of micro loans issued by microfinance organizations in Kazakhstan has increased by 54.8 percent over the year and amounted 170.5 billion tenges, according to the data of the National Bank of Kazakhstan as of 1Q2018, Ranking.kz reported.

As noted, KMF microfinance organization (MFO) with a micro-loans’ volume of 93.1 billion tenges and the annual growth rate of 61.3 percent, is the absolute leader for the volume of the issued loans. It is followed by Toyota Financial with a micro-loans’ volume of 20.4 billion tenges and the twofold annual growth. The Yrys with a micro-loans’ volume of 9.3 billion tenges and the annual growth rate of 12.2 percent hits rock bottom in the list of the top three MFOs.

Some 150 microfinance organizations having been registered in the National Bank of the country are officially operating in Kazakhstan. Most of them is functioning in the south of the country. In particular, 39 organizations are functioning in the southern macro-region (22 - in South Kazakhstan region, 11 - in Kyzylorda region, four - in Almaty region, two - in Zhambyl region).

In addition, 52 organizations are functioning in Almaty.

Some 29 companies are functioning in the north of Kazakhstan, 15 microfinance organizations operate in each of the central-eastern and western macro-regions.

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Follow the author on Twitter: @Lyaman_Zeyn

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