Association predicts increase in loan portfolio of Kazakh microfinance organizations
Baku, Azerbaijan, July 25
The volume of the loan portfolio of the Kazakh microfinance organizations will increase by 5-7 percent in 2018, the Kazakh media cited Director of the Association of Microfinance Organizations of Kazakhstan Anatoliy Glukhov as saying.
He added that at the end of the year, the volume of the loan portfolio will increase, as it was last year, but this year it will be only 5-7 percent.
Glukhov stressed that the volume of the loan portfolio increased by about 60 percent in 2017.
"In January-March, microfinance organizations issued loans worth 61 billion tenge,” he said.
"Accordingly, at the end of the year, we expect the volume of the market to increase to 240-250 billion tenge," he said. "In 2017 loans worth 228 billion tenge were issued."
(344.64 tenge = $1 on July 25)