Baku, Azerbaijan, Feb. 4
By Elena Kosolapova - Trend: Kazakh banks increased the volume of lending to the economy by 13.4 percent to almost $11.292 trillion tenge (155.50 tenge = $1) in 2013, Kazakh National Bank reported on Feb. 3.
The volume of credits in national currency increased by 12.7 percent to almost 7.937 trillion tenge,
and in foreign currency by 15 percent to 3.355 trillion tenge.
The share of tenge credits decreased from 70.7 percent in December 2012 to 70.3 percent in December 2013.
Long-term loans increased by 14.5 percent to over 9.161 trillion tenge, short-term loans increased by 8.9 percent to 2.13 trillion tenge in 2013. The share of long-term loans grew from 80.4 percent in December 2012 to 81.1 percent in December 2013 as a result.
The volume of loans to legal entities increased by 7.9 percent to over 7.665 trillion tenge, and to individuals they rose by 27 percent to over 3.626 trillion in the reporting period. The share of loans to individuals increased from 28.7 percent in December 2012 to 32.1 percent in 2013.
The volume of loans to small businesses decreased by 9.1 percent to over 1.283 trillion tenge in January-December 2013, which makes up 11.4 percent of total loans to economy.
Some 19.5 percent of all loans to the economy were issued to the trade sector, 12.3 percent to construction, 11.4 percent to industry and 3.3 percent to agriculture.
The weighted average interest rate hit 10 percent on loans issued in national currency to non-bank legal entities and 20.3 percent on loans issued to individuals.
Edited by CN
