Baku, Azerbaijan, May 10
Trend:
The decrease of rates tenge-denominated deposits has stopped and the decrease of rates of non-tenge denominated deposits has slowed down, Trend reports with reference to Association of Financiers of Kazakhstan.
Weighted average deposit rate amounts to annual 9.3 percent (9.1 percent previously), whereas the rate of non-tenge denominated deposits has decreased from annual 1.2 percent to annual 1.1 percent.
The dollarization of the deposits has decreased from 43.6 percent to 41.5 percent in March, 2019.
As of March 2019, the deposit portfolio of the second tier banks displays a decrease by 84.2 billion tenge (-0.5 percent) and now amounts to 16.7 trillion tenge or 68 percent of the funding structure.
The drastic decrease of corporate deposits is observed (-305.5 billion tenge), while the dynamics of the retail deposits is practically neutral (+8.8 billion tenge). Thus, the percentage of retail deposits increased from 50.4 percent to 51.3 percent.
The maximal increase of retail deposits is displayed by Kaspi bank (+28.6 billion tenge).
The retail deposits of Halyk Bank display a decrease of 128.9 billion tenge in 1Q2019 and of 15.1 billion tenge in March.
The bank’s pricing of the deposit products mostly has not changed in April. Still, the subsidiary bank of Alfa-Bank has increased the nominal rates of two deposit products to annual 8-10.5 percent depending on the duration of the placement (previous 5.5-9.3 percent)
Jýsan Bank launched three new deposit products. The rates of these products vary from annual eight to annual 11 percent (9-12.72 percent previously).
Weighted average remuneration rate of banks for tenge loans lent in March to physical persons amounted to annual 17.8 percent (18.2 percent in February). The growth of gross loan in March decreased to 0.9 percent (10.3 percent in February).
In 1Q2019, the total volume of loans lent amounted to 2.9 trillion tenge (2.7 trillion tenge in the same period of last year). The volume of bank notes in circulation reached almost 3.8 trillion tenge in March 2019 or about 30 percent of the loan portfolio.
The market rates of bank loans in April have not changed.
1USD = 380.58 tenge on May 10.