Total deposits of population reached historic peak in Kazakhstan
It has reached 8.3 trillion tenges, 47% of the total number of deposits.
The increase of the total number of deposits in Kazakhstan for the first time has entered the positive zone from the beginning of 2018 and have made up 1.9% for the first half year. Deposits in national currency have lead to the increase, that have increased by 8.2% from the beginning of the year (751.5 billion tenges). It was said at the Department of Consumer Protection of Financial Services and External Communications of the National Bank of Kazakhstan, BNews.kz correspondent reports.
Total deposits in foreign currency have decerased by 4.9%, without revaluation - by 7.4%. Such changes in the currency structure led to the reduction of the common level of dollarization to 44.5% following June.
In addition, in terms of subjects, the growth drivers are deposits of the population, which have increased by 3.2% from the beginning of the year (263.8 billion tenges). The monetary framework of deposits of the population demonstrates not only the flow of deposits in the tenge, but inflow of new deposits in the tenge. Thus, the inflow of deposits in the tenge of the population exceeds the outflow of foreign currency deposits, and the number of deposits in the tenge attracted from the population over the first half year exceeds foreign currency deposits by more than two times.
Dollarization of deposits of individuals has reached in June the mimimum indications at 46.8% from February. At the same time, the number of deposits of individuals has reached the historic peak - 8.3 trillion tenges, 47% of the total volume of deposits. It demonstrates the increase of trust of the population to the banking system. As of today, deposits are attractive instrucments for the population, that ensure the high income and safety of funds, experts believe.
Deposits of legal entities also a turn to the possitive growth zone and have increased by 0.8% from the beginning of the year. Such a tendency was led by the increase of deposits in national currenct by 3.4% on the background of the decrease of deposits in foreign currency by 2.5%. As a result, the share of foreign currency deposits has reached 42.4%.
The average weighted rate for deposits in the tenge in June has reached 7.4% and decerased from 8.2% in December 2017. In particular, the rate for term deposits of legal entities has decerased from 8% to 7.1%, for term deposits of the population - from 11.7% to 11.2%. The decrease in the rates for deposits in the tenge happens on the background of the decrease of the base rate from 10.25% in the end of 2017 to 9%.
Following June, the interest rate for deposists in free foreign currency has made up 1.2% (in December 2017 - 1.5%). The banks opened term deposits of the population in free foreign currency at the rate of 1.8% (2.1%), these of legal entities - at the rate of 0.9% (1.2%).