Debts of Kazakhs increase significantly

Finance Materials 21 December 2018 14:54 (UTC +04:00)

Baku, Azerbaijan, Dec. 21

By Rashid Shirinov – Trend:

The total retail loans of Kazakhs at the end of October 2018 amounted to almost 6 trillion tenge, Trend reports with reference to Ranking.kz.

This is 1.7 percent more compared to September and 14.4 percent more than at the beginning of 2018.

More than half of the retail loans, 53.1 percent, are unsecured consumer loans.

The average loan size decreased by 0.9 percent compared to September and by 3.1 percent since the beginning of the year, totaling 534,000 tenge. At the same time, the average amount of debt per person increased by 5.1 percent since the beginning of the year and by 0.4 percent compared to September, reaching 908,000 tenge.

It should also be noted that the banking sector continues to lead in the structure of retail lending with a share of 91.4 percent of all loans issued in October. Microfinance institutions rank second (6 percent) and online lending is third (2.4 percent).


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