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Kazakh banks increase funding of transportation sector

Economy Materials 22 November 2016 21:31 (UTC +04:00)

Baku, Azerbaijan, Nov. 22

By Elena Kosolapova – Trend:

Kazakh banks increased volume of loans to the transportation sector, Finprom.kz analytical center reported.

As much as 221 billion tenges (338.99 tenges = $1) of loans were provided to transportation companies in January-September 2016, which is 53 percent more compared to the same period of 2015.

About 44 percent of all new loans issued to the sector in this period are long-term loans.

The volume of loans by banks to transportation and logistics companies reached 532 billion tenges at the end of September, which is 5 percent more than a year earlier.

The volume of services in transportation sector increased by 4 percent in January-September 2016 compared to the same period of 2015.

The transportation sector was one of the main drivers of economic growth in this period.

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