BAKU, Azerbaijan, May 16. Dollarization decreased to 31.6 percent in Kazakhstan, a source at the National Bank of Kazakhstan told Trend.
According to the source, the volume of lending by second-tier banks increased by 23.3 percent to 22.8 trillion Kazakh tenge ($50.5 billion), including loans to businesses - by 13.9 percent to 9.6 trillion Kazakh tenge ($21.3 billion). Loans to the economy increased by 21.7 percent and as of January 1, 2023, amounted to 28.9 trillion tenge.
Gross international reserves for 2022 increased by $1.2 billion and amounted to $90.8 billion, including gold and foreign exchange reserves – $35.1 billion, and assets of the National Fund – $55.7 billion.
Furthermore, it was noted that the international Fitch Ratings and S&P Global Ratings agencies have confirmed Kazakhstan's sovereign rating at the BBB level with a stable outlook.
All banks operating in the country, except the National Bank of the Republic of Kazakhstan, represent the second level of the banking system and are second-tier banks.
