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Kazakhstan reports value increase in all types of deposits

Business Materials 27 February 2021 18:21
Kazakhstan reports value increase in all types of deposits

BAKU, Azerbaijan, Feb.27

By Nargiz Sadikhova - Trend:

The volume of deposits in Kazakhstan’s deposit organizations amounted to 22.6 trillion tenge ($54.3 billion) in Jan. 2021, which is 2.7 percent more compared to Dec. 2020, Trend reports with reference to the data of Kazakhstan’s National Bank.

Deposits of legal persons increased in value by 5.7 percent to 11.9 trillion tenge ($28.6 billion), whereas deposits of physical persons decreased by 0.6 percent to 10.7 trillion tenge ($25.7 billion).

In turn, the value of deposits denominated in the national currency (tenge) increased by 3 percent in a month to 14.2 trillion tenge ($34.2 billion), whereas the value of deposits denominated in foreign currency increased by 2.1 percent to 8.4 trillion tenge ($20.1 billion).

The deposits dollarization level stood at 37.1 percent in Jan. 2021 compared to 37.3 in Dec. 2020.

Tenge denominated deposits of legal entities increased by 7.2 percent in Jan. 2021 and have amounted to 7.7 trillion tenge ($18.5 billion), whereas foreign currency denominated deposits of legal entities increased by 3.2 percent to 4.2 trillion tenge ($10.1 billion).

Meanwhile, tenge denominated deposits of physical entities decreased by 1.5 percent to 6.5 trillion tenge ($15.7 billion), whereas foreign currency denominated deposits of physical entities increased by 1 percent to 4.1 trillion tenge ($10.02 billion).

The value of time deposits amounted to 15.8 trillion tenge ($37.9 billion), having decreased by 3.7 percent in Jan. 2021 compared to Dec. 2020.

The weighted average remuneration rate on time deposits of non-bank legal entities in tenge amounted to 7.2 percent in Jan. 2021 compared to 7.3 percent in Jan. 2020, whereas the weighted average remuneration rate on deposits of physical entities was 9.4 percent compared to 9.3 percent in Jan. 2020.

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