Kazakhstan differentiating retail deposits market
Astana, Kazakhstan, Oct. 20
By Daniar Mukhtarov - Trend:
Kazakhstan's retail deposits market is becoming less concentrated, according to a message from the analytical service Ranking.kz.
"Over the year, the first tier banks of Kazakhstan reduced the specific gravity of the retail deposits portfolio in the total deposit portfolio from 38.2 to 36.6 percent," the analytical service said.
In particular, in August of 2013 and 2014 the market leader - the People's Bank - increased the retail deposits portfolio by 16.3 percent up to 926.5 billion KZT ($1 = 181.5 KZT).
Another bank, the Kazkommertsbank, increased the retail deposits portfolio by 11.8 percent up to 693.7 billion KZT in the same period.
The market expanded during this period by 19.2 percent, according to the message.
Ranking.kz said that due to the slower growth rates the giant banks reduced the specific gravity in the retail: the People's Bank - from 21.5 to 20.9 percent, and the Kazkommertsbank - from 16.7 to 15.6 percent.
At the same time the second tier banks (with a market share of 5 to 10 percent) have the most intensive growth in this area, the market research service said.
Over the year, the Sberbank (Savings Bank) increased the portfolio of individual deposits by 1.7 times up to 326 billion KZT. As a result, the bank's market share rose by 2.3 percent up to 7.4 percent.