National currency denominated deposits account for majority of deposits in Kazakh banks

Baku, Azerbaijan, May 29

By Nargiz Sadikhova - Trend:

At the beginning of 2019, 52.3 percent of the portfolio of retail deposits of Kazakh banks consisted of deposits in tenge, whereas 47.7 percent accounted for deposits denominated in foreign currencies, Trend reports citing ranking.kz

As of 3Q2018, these volumes have been equal (50 percent each), whereas in the beginning of 2018 the foreign currency deposits (52.4 percent) prevailed over tenge denominated deposits (47.6 percent).

In a year, the volume of tenge denominated deposits has increased by 17.2 percent and equaled to 4.6 trillion tenge, whereas the number of accounts amounted to 55.4 million.

In contrast, the volume of foreign currency denominated deposits decreased by three percent and stood at 4.2 trillion tenge with the number of accounts of 3.1 million.

Over 84 percent of tenge denominated deposits accounted for deposits that do not meet the urgency requirements (just under 3.9 trillion tenge). Deposits that meet the urgency requirements accounted for 62.8 billion tenge (1.4 percent), whereas savings deposits accounted for 26.5 billion tenge (0.6 percent).

Some 14 percent (640.6 billion tenge) of the tenge denominated deposits accounted for deposits, the part of the remuneration of which is being subsidized by the government within the housing construction savings and the state education contributory scheme.

Time deposits prevailed in the structure of foreign currency denominated deposits (92 percent of the volume, 3.8 trillion tenge, annual decrease by 4.4 percent).

The volume of conditional deposits decreased by 339.3 percent and equaled to 43.9 billion tenge (one percent in the structure of foreign currency deposits).

In contrast, the volume of card and current accounts increased by 35.7 percent and stood at 268.3 billion tenge. Demand deposits increased by 61.6 percent and amounted to 21.5 billion tenge.

Notwithstanding the fact that the maximum rates of time deposits with replenishment allowance did not exceed 11 percent, their volume amounted to 53.4 billion tenge (85.2 percent of time deposits). Time deposits with no replenishment allowance accounted for 9.3 billion tenge, whereas the maximum rate equaled 12.5 percent.

Over 82 percent of saving deposits accounted for deposits with no replenishment allowance (21.8 billion tenge), the rates of which equal up to 13.5 percent, whereas the volume of saving deposits with replenishment allowance equaled to 17.7 percent (4.7 million tenge); their maximum recommended rate stood at 12 percent.

(1USD = 380.15 KTZ on May 29)

---

Follow the author on twitter: @nargiz_sadikh

Subscribe to Trend in Google News! Subscribe
Volume of investments in construction of bp's power plant in liberated Azerbaijani lands revealed
Volume of investments in construction of bp's power plant in liberated Azerbaijani lands revealed
Transport infrastructure in Karabakh to turn Azerbaijan into logistics hub between Central Asia and Europe – CAERC
Transport infrastructure in Karabakh to turn Azerbaijan into logistics hub between Central Asia and Europe – CAERC
ADB funding bridge construction in Georgia
ADB funding bridge construction in Georgia
Loading Bars
Latest
Erdogan-Al Thani meeting to boost Turkey-Qatar ties: Ambassador
Myanmar court to give first rulings in Suu Kyi trial
Erdogan to chair Turkey-Qatar Supreme Strategic Committee in Doha
Iran stresses need for long-term cooperation with Kyrgyzstan
35.6% of Georgian adult population fully vaccinated
Indonesia Semeru volcanic eruption kills 14; dozens injured
Three skiers killed and two injured in Austria avalanche
Uzbekistan shares data on interest expenses of banking sector
Flights from Iran’s Abadan International Airport increasing
Germany's Free Democrats back coalition agreement
Arab Coalition destroys 14 vehicles, kills more than 115 Houthis
Iran’s Bahar Azadi gold coin price continues to rise
Kyrgyz Cabinet aims to increase share of electric vehicles in country
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,394 more COVID-19 cases, 1,791 recoveries
Kazakhstan increases petroleum oil exports to France
Volume of cargo loaded/unloaded in Iran’s Bandar Lengeh port decreases
Iran boosts aluminum ingots production
COVID-19: 11 areas of Kazakhstan in ‘green zone’
Cargo train services launch between Georgia, China
Iran reveals COVID-19 data for December 5
Turkey, Italy work together for regional peace, stability: FM
Tripartite deal to solve main part of Iran’s gas problem - Chief of Staff of Iranian President
Oil production on Turkmen Cheleken peninsula exceeds planned volume
State Customs Committee discloses TOP-5 trade partners of Azerbaijan
State Customs Committee reveals trade turnover between Azerbaijan and China
Azerbaijani Defense Ministry presents weekly review (VIDEO)
Georgia reports 3,410 coronavirus cases, 4,732 recoveries, 46 deaths
At least 14 civilians mistakenly killed by Indian forces in remote northeast
Iranian currency rates for December 5
Kyrgyzstan confirms 42 new COVID-19 cases
New Year budget to depend on activities’ scale - Tbilisi Mayor
Iran’s SPGC shares data on production of its fifth refinery
Baku International Sea Trade Port unveils cargo transshipment for 10M2021
Pakistan receives $3 billion loan from Saudi Arabia
VISA open to co-op with all key players in Azerbaijan’s transport sector (Exclusive)
6.1-magnitude earthquake rattles southern Philippines
Soyuz-ST-B with 2 Galileo satellites launched from Kourou spaceport
Dutch former queen Beatrix tests positive for COVID-19
10 mln French have received COVID-19 booster shots: minister
Iran abandoned any compromises in latest nuclear talks - U.S.
Chile reports first case of Omicron variant
White House confirms plans of holding video call between Biden and Putin on December 7
Vienna talks on Iran nuclear deal to resume next week - Russian Foreign Ministry
1 killed, 40 injured following volcanic eruption in Indonesia
Body of another Armenian serviceman found in Azerbaijan's Khojavand
Bitcoin tumbles 9.95% to $48,397.56
Passenger transportation via Iran's Kermanshah International Airport declines
UK records another 42,848 coronavirus cases
Explosion occurred near Iran's nuclear facility
Azerbaijan hands over to Armenia body of saboteur neutralized in attack on Azerbaijani serviceman in Khojavand
Azerbaijan talks entreprises to be commissioned at Aghdam Industrial Park
Major terrorist attack against rally with Erdogan's participation prevented in Turkey
Great number of EU, NATO countries interested in Turkish drones - Cavushoglu
Georgian PM meets with President of FIBA Europe
OSCE MG ready to host meeting between Azerbaijani and Armenian FMs
Value of Azerbaijan's export to US surges for 10M2021
Prices on several main food products in Kazakhstan continue to lower
Agrarian sector of ‘smart village’ in Azerbaijan’s Zangilan to be combined modern urban planning – minister
Azerbaijan discloses project cost of agropark in Yevlakh (PHOTO)
Buy/sell operations at Iran Mercantile Exchange down
Saudi Arabia, France agree to strengthen cooperation
Biden, Putin to hold video call on Tuesday
India, Australia are natural economic partners, says Tony Abbott
Azerbaijan receives mine maps of its territories liberated from Armenian occupation
Erdogan discusses humanitarian aid with Red Crescent, Red Cross
Uzbekistan intends to increase dried fruit exports to China
No Omicron strain detected in Georgia - NCDC Head
Aligarh’s Areeba shoots to fame, breaks stereotypes about Muslim girls
Iran’s Bahar Azadi gold coin price skyrockets
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,406 more COVID-19 cases, 1,787 recoveries
Tactical exercises held in Azerbaijan's commando military unit - MoD (PHOTO/VIDEO)
New composition of Supervisory Board of Azerbaijan Industrial Corporation approved
Iran reveals COVID-19 data for December 4
President Ilham Aliyev sends congratulations to heads of Thailand, Finland
France, Europeans working to open joint mission in Afghanistan - Macron
Ranking of natural gas importers from Azerbaijan
Uzbek Commodity and Raw Materials Exchange reveals volume of its transactions
SOCAR Georgia Gas announces tender on gas stations restoration
Iran eyes increase in passenger transportation via Yazd Shahid Sadooghi Airport
Azerbaijan reveals oil exports to Canada in 10M2021
Weekly review of main events in Azerbaijan's transport sector
Turkmenistan’s president approves anti-crisis program for 2022
Azerbaijan’s liberated territories have high potential for solar energy - RES agency
Weekly review of key events in Azerbaijan's ICT sector
Russian company to help automate, digitalize processes in Uzbek energy sector
Iran reaches increase in load/unload operations in Shahid Bahonar port
Top 10 Azerbaijani oil importers
MFA reveals reason why Armenia-Azerbaijan ministerial meeting didn't take place
Kazakhstan talks construction of wind power plants in Kostanay region
Azerbaijan achieves practical results to restore hydropower plants in liberated lands - agency's CEO
Azerbaijan’s metallurgical company notes increases in steel production over 9M2021
Iran also to be able to take advantage of Zangazur corridor – ex-Iranian ambassador to Azerbaijan
Russia-UAE trade turnover hits fresh all-time high surpassing $4 bln - Mishustin
Kazakhstan’s Almaty Power Plants to buy pumping, ventilation equipment via tender
Azerbaijan discloses oil exports to Ukraine over 10M2021
Azerbaijan unveils volume of oil exports to Belarus in first 10M2021
Georgian Railway shares updated report on income within 9M2021
Azerbaijan’s 10M2021 oil exports to UK revealed
All news