Finance & Banking

After almost three years of stagnation in the Kazakhstani credit market, loans to the economy by banks had been renewed. The volume of loans by banks increased by 15.7 percent and made up KZT 8.8 billion ($58.7 million). The volume of loans in the national currency increased by 29.6 percent and in foreign currency reduced by 3.4 percent.

In order to increase the populations’ trust in banks and to activate the depositary market, the amount of individuals’ deposits coverage had been increased to KZT 5 million ($33,367).

The National Bank carried out an additional capitalization of the Kazakhstan deposits insurance fund. As a result of these measures, deposits were raised by 19.7 percent in 2009 (9.7 percent without the devaluation effect), by 11.6 percent in 2010 and by 14.3 percent in 2011, to KZT 8.4 trillion ($56.0 billion).