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Kazakhstan reports increase in value of placed deposits

Finance Materials 28 April 2022 17:34 (UTC +04:00)
Kazakhstan reports increase in value of placed deposits
Nargiz Sadikhova
Nargiz Sadikhova
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BAKU, Azerbaijan, April 28. The volume of deposits in Kazakhstan’s deposit organizations amounted to 26.4 trillion tenge ($58.7 billion) in March 2022, which is 4.5 percent more compared to February 2022 and 13.2 percent more than during the same month last year, Trend reports with reference to the data of Kazakhstan’s National Bank.

Deposits of legal persons decreased in value by 4.3 percent to 13.5 trillion tenge ($30.04 billion), whereas deposits of physical persons decreased by 4.9 percent to 12.9 trillion tenge ($28.7 billion).

In turn, the value of deposits denominated in the national currency (tenge) decreased by 2.2 percent in a month to 16.7 trillion tenge ($37.1 billion), whereas the value of deposits denominated in foreign currency decreased by 8.2 percent to 9.7 trillion tenge ($21.6 billion).

The deposits dollarization level stood at 36.9 percent in March 2022 compared to 36 in Dec. 2021.

Tenge denominated deposits of legal entities decreased by 4 percent in March 2022 and have amounted to 8.3 trillion tenge ($18.5 billion), whereas foreign currency denominated deposits of legal entities decreased by 4.7 percent to 5.1 trillion tenge ($11.4 billion).

Meanwhile, tenge denominated deposits of physical entities decreased by 0.4 percent to 8.3 trillion tenge ($18.5 billion), whereas foreign currency denominated deposits of physical entities decreased by 12 percent to 4.5 trillion tenge ($10.1 billion).

The value of time deposits amounted to 16.9 trillion tenge ($37.6 billion), having decreased by 5.6 percent in March 2022 compared to February 2022.

The weighted average remuneration rate on time deposits of non-bank legal entities in tenge amounted to 10.9 percent in March 2022 compared to 7.2 percent in March 2021, whereas the weighted average remuneration rate on deposits of physical entities was 10 percent compared to 9.4 percent in March 2021.

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