26 microcredit organizations are no longer active in Kazakhstan

15 October, 2018, 13:04 213
26 microcredit organizations are no longer active in Kazakhstan

The increase in microcredits has been observed despite the reduction in the number of players. 

 

In Kazakhstan, the number of microcredit organizations has declined by 9.9% (26 organizations) by the end of the 2nd quarter of the present year, totalling 236 companies, Finprom.kz reports. 

The declining trend in the number of microcredit organizations has begun back in 2014, at that time their number was 661. A year later (in the 2nd quarter of 2015), their number reduced to 398. The average rate of reduction in the number of organizations - 16.3% a year.  

Almaty leads in the number of microcredit organizations with 50 companies in this sector - 21.2% of the total market. Shymkent is the second where 31 companies operate or 13.1% of the total number. Almary region and Astana are the third with 18 organizations in each providing microcredits.  

The total number of credits provided by late June made up 192.5 thousand totalling 70.8 billion tenges. 

Despite the decrease in the number of microcredit organizations, the number of credits provided has been growing at a healthy rate over the last two years. Thus, the increase of microcredits provided following the data by the end of the 2nd quarter has made up 27.3% or 41.3 thousand over the year.