Baku, Azerbaijan, Aug. 12
By Leman Zeynalova – Trend:
The volume of deposits increased by 1.9 percent in January-June 2018, the National Bank of Kazakhstan said in a message.
“This growth was caused by deposits in the national currency, which increased by 8.2 percent (751.5 billion tenge) since early 2018,” the message. “Deposits in foreign currency decreased by 4.9 percent. These changes in the currency structure led to a decrease in the overall level of dollarization to 44.5 percent in June."
According to the message, the inflow of tenge deposits of the population exceeds the physical outflow of foreign currency deposits, while tenge deposits attracted from the population in January-June exceed the currency deposits by more than twice.
The dollarization of individuals' deposits in June reached the minimum level of 46.8 percent since February 2014.
Moreover, the volume of deposits of individuals reached a historic high of 8,384.8 billion tenge with a 47-percent-share in a total volume of deposits.
"This shows people's confidence in the banking system,” the message said. “Today, deposits are attractive for the population as a tool that ensures a high income and safety of funds.”
“Deposits of legal entities also increased by 0.8 percent since the beginning of the year,” the message said. “The trend was caused by the growth of deposits in the national currency by 3.4 percent amid the reduction of deposits in foreign currency by 2.5 percent. As a result, the share of foreign currency deposits was 42.4 percent.”
(356.8 tenge = $1 on Aug. 12)
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