Kazakhstan's deposit and loan markets show de-dollarization tendency, population's deposits in banks grew in 2010 - G. Marchenko

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.