BAKU, Azerbaijan, June 23. The overall volume of population deposits in deposit-taking organizations increased by 17 percent in April 2023 in Kazakhstan compared to the same month last year, Trend reports.
As noted by the country's National Bank, the total volume of deposits reached 30.3 trillion Kazakh tenge ($67.4 billion).
In annual terms, deposits in the national currency experienced a 27.7 percent increase, driven by a 17.1 percent rise in deposits of legal entities and a substantial 38.3 percent increase in individual deposits.
Furthermore, deposits in foreign currency decreased by 2.6 percent in April 2023. Over the year, there was a decline of 3.5 percent in foreign currency deposits of legal entities and 1.6 percent in individual foreign currency deposits.
In the structure of deposits of the population (including non-residents), a significant portion of the deposit base in Kazakh tenge in April 2023 consisted of non-term deposits, accounting for 55.2 percent (compared to 47.1 percent in April 2022), while savings deposits made up 9.6 percent (compared to 11.7 percent in April 2022). Non-term Kazakh tenge deposits experienced a substantial year-over-year growth of 64 percent, amounting to 2.5 trillion Kazakh tenge ($5.5 billion), while savings deposits grew by 15.5 percent (equivalent to 151.3 billion Kazakh tenge or $336.7 million).