BAKU, Azerbaijan, July 18. Prime Minister of Kazakhstan Alikhan Smailov announced the growth of the loan portfolio of Kazakh second-tier banks since the beginning of the year, Trend reports with reference to the government.
“Having considered the deputy's request regarding bank lending to the economy, I announce that the loan portfolio of Kazakh second-tier banks increased to 18.5 trillion tenge ($38.5 billion), by 26.5 percent or 3.9 trillion tenge ($8.1 billion) in 2021 compared to 2020,” PM said.
The loan portfolio has grown by 5.5 percent since the beginning of 2022 to 19.5 trillion tenge ($40.6 billion) as of June 1, 2022 despite the uncertainty in the global economy,” Smailov noted.
He also announced a forecast regarding the further growth of lending indicators.
“According to the Forecast of the socio-economic development of the Republic of Kazakhstan from 2023 through 2027, the indicators of lending to the economy by second-tier banks in 2023 are projected in the amount of 22.9 trillion tenge ($47.7 billion) with a further increase to 34.2 trillion tenge ($71.2 billion) in 2027.
An increase in residents' deposits is projected from 35.7 trillion tenge ($74.3 billion) in 2023 to 53.5 trillion tenge ($31.4 billion) in 2027,” PM added.