Kazakh lending market continues to recover
Baku, Azerbaijan, Oct. 17
By Rashid Shirinov – Trend:
The lending market of Kazakhstan continues to recover, Chairman of the National Bank Daniyar Akishev said while presenting changes to the budget for 2018-2020 in the parliament, according to Kazinform.
"Bank loans have increased by 2.5 percent to 13 trillion tenge at the end of August since the beginning of the year," he said.
Akishev noted that excluding the loan portfolio of banks undergoing restructuring and deprived of a license, the annual growth of lending to the economy is estimated at 11.6 percent or 1.3 trillion. tenge.
For 8 months of this year, the issuance of new loans increased by 28.1 percent or 1.9 trillion tenge. The rate on tenge loans to enterprises decreased from 13.2 percent at the beginning of the year to 12.2 percent in August 2018.
"The current priority for the National Bank is the implementation of the instructions the president gave in the Address to the People of Kazakhstan. Together with the government and banks, we are ready to quickly work out mechanisms for providing liquidity," Akishev noted.