Kazakhstan's deposit and loan markets show de-dollarization tendency, population's deposits in banks grew in 2010 - G. Marchenko
ALMATY. January 11. KAZINFORM /Yekaterina Ionova/ Kazakhstan's deposit and loan markets show a de-dollarization tendency - the last year the volume of deposits in foreign currency reduced and the volume of deposits and loans in tenge rose. Chairman of the Kazakhstan National Bank Grigory Marchenko has said it at a special press conference in Almaty today.
According to the country's chief banker, the volume of the residents' deposits in deposit organizations in January-November 2010 rose by 13.3% (up to KZT 7 trln 451 bln 300 mln). The deposits of legal entities grew by 13.4% (up to KZT 5 trln 307 bln 700 mln) and the individuals' deposits - by 13.2% (up to KZT 2 trln 143 bln 600 mln).
In January-November 2010 the volume of the deposits in foreign currency reduced by 8.1% (to 2 trln 640 bln 600 mln) and the deposits in tenge grew by 30.0% and made KZT 4 trln 810 bln 700 mln. Population's deposits in the banks (taking into account the non-residents) rose by 13.4% in this period and made KZT 2 trln 196 bln 300 mln. The share of the deposits in tenge grew by 40.8% having reached KZT 1 trln 183 bln 900 mln and the share of deposits in foreign currency reduced by 7.6% having made KZT 1 012.4 bln.
In November 2010 the weighted average interest rate on term deposits in tenge of the non-bank entities made 2.7% against 4.5% in December 2009 while on the individuals' deposits it made 9.8% against 10.0% correspondingly.
The total volume of lending of economy by banks in January-November 2010 lowered by 2.0%, having made KZT 7 trln 494 bln 600 mln. The volume of loans in tenge rose by 7.9% and made KZT 4 trln 255 bln 600 mln. The loans in foreign currency were reduced by 12.5% having made KZT 3 trln 239 bln. The share of the loans in tenge in November 2010 grew from 51.6% to 56.8% compared to December 2009.
Long-term crediting in January-November 2010 reduced by 1.0% (KZT 6 trln 368 bln 400 mln) and short-term crediting lowered by 7.2% (KZT 1 trln 126 bln 2 mln). The loans provided to the legal entities in January-November 2010 lowered by 0.8%, to individuals - by 4.7%. Crediting of small business in January-November 2010 was reduced by 23.4%.
The major part of the loans provided by the banks falls on trade - 23.9% (compared to 23.6% in December 2009), construction sector - 18.6% (18.8%), industry - 9.7% (9.5%) and agriculture - 3.5% (3.7%).
As G. Marchenko noted, the situation on the loan market remains the same - neither reduction nor growth is observed.