Microlending intensifies in Kazakhstan

Finance Materials 8 April 2019 16:57 (UTC +04:00)

Baku, Azerbaijan, Apr. 8

By Rashid Shirinov – Trend:

The number of enterprises engaged in microcredit activities in Kazakhstan last year decreased by 20.1 percent to 824 companies, Trend reports via Kazakh media.

Of these, 600 enterprises are credit unions and 224 are microcredit organizations.

At the end of last year, the total loan portfolio of these enterprises amounted to 668.8 billion tenge, which is 16.6 percent more than in 2017.

As much as 336.9 billion tenge (50.4 percent of the total loan portfolio) accounted for loans to individuals, and 331.8 billion tenge (49.6 percent) — those to legal entities.

In general, in 2018, companies engaged in microcredit activities issued loans in the amount of 500.7 billion tenge, which is 7.5 percent more than in 2017.

Loans to individuals amounted to 346.2 billion tenge, which is 32.9 percent more than a year earlier. Legal entities received 154.5 billion tenge of loans in 2018, which is 24.7 percent less than in 2017.

(379.84 KZT = 1 USD on Apr. 8)


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