Kazakh banks increase lending to economy
BAKU, Azerbaijan, May 1
By Nargiz Sadikhova - Trend:
Value of lending allocated by Kazakhstan’s second tier banks to the country’s economy amounted to 14.3 trillion tenge ($33.6 billion) as of the end of Mar. 2020, which is 3.6 percent more than in Feb. 2020, Trend reports with reference to Kazakhstan’s National Bank.
Value of lending to legal persons increased by 5.9 percent amounting to 7.4 trillion tenge ($17.5 billion), whereas lending value to physical persons was 6.8 trillion tenge ($16.1 billion) which is 1.2 percent more than in Feb. 2020.
Value of tenge-denominated loans value amounted to $11.8 trillion tenge ($27.8 billion), which is 1.6 percent more than in Feb. 2020. Value of foreign currency denominated loans increased by 14.6 percent to 2.4 trillion tenge ($5.8 billion).
Value of long term loans amounted to 12.2 trillion tenge in Mar. 2020 ($28.7 billion) which is 3.1 percent more than in Feb. 2020, whereas value of short term loans increased by 6.9 percent to 2.08 trillion tenge ($4.9 billion).
Lending to ventures of small entrepreneurship amounted to 2.1 trillion tenge in mar. 2020 ($5 billion), which is 3.9 percent more than in Feb. 2020 and is 14.9 percent of the total value of loans allocated as of Mar. 2020.
The largest share of loans accounts for industry (13.4 percent), trade (12.4 percent), construction (4.7 percent) and transport (3.7 percent).
Weighted average remuneration rate on tenge denominated loans to non-bank legal entities was 12.5 percent in Mar.2020 compared to 12 percent in Mar. 2019, whereas to physical entities it was 17.7 percent compared to 17.8 percent in Mar. 2019.
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