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Kazakh banks increase lending to economy

Central Asia Materials 25 October 2017 14:55 (UTC +04:00)

Baku, Azerbaijan, Oct. 25

By Nigar Guliyeva – Trend:

Kazakhstan's second tier banks increased lending to the national economy by 1.4% in September 2017 up to 13.222 trillion tenge.

In September, the volume of loans issued to legal entities increased by 1.4% up to 8.779 trillion and to individuals - by 1.5% up to 4,443 trillion tenge, the National Bank of Kazakhstan reports.

The volume of loans in national currency increased during the month by 2.5%, to 9.485 trillion tenge. In particular, lending to legal entities increased by 3.2%, and for individuals - by 1.6%.

The volume of loans issued in foreign currency decreased by 1.2%, to 3.737 trillion tenge.

The share of loans in tenge increased during the month from 71% to 71.7%. The volume of long-term loans increased by 1.3%, to 11.108 trillion tenge, short-term loans - by 2.1%, to 2.115 billion.

As for lending to small businesses, the figure slightly decreased - by 0.4%, to 3,134 trillion, which constitutes 23.7% of the total volume of loans.

In the sectoral breakdown, the most significant amount of bank loans issued to the economy falls on such sectors as trade (the share in the total volume is 18.3%), industry (14.3%), construction (7.5%), agriculture (5.9%) and transport (4.5%).

In September 2017, the average weighted interest rate on loans issued in national currency to non-bank legal entities was 13.1% (in December 2016 - 14.5%), individuals - 18.8% (18.4%).

The official exchange rate for October 25 is 334.94 KZT / USD.

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