Crediting SMEs in Kazakhstan rose by 6.6% in Mar 2016

ASTANA. KAZINFORM Crediting small and medium enterprises in Kazakhstan rose by 6.6% in March 2016 and made 2tr 490bn tenge (19.9% of the total amount of loans), the press service of the National Bank says.

The majority of the loans was accommodated for trade sector (20.7%), industry (13.5%), construction (8%), agriculture (5.8%) and transport (5%).

“The volume of loans to legal entities in Kazakhstan in March 2016 increased by 0.2% and reached 8tr 491bn 5mn tenge. The volume of loans to individuals fell by 1.6% and made 3tr 995bn tenge. The share of loans for individuals decreased from 32.4% to 32% in March,” a statement from the National Bank reads.

According to the country’s main financial regulator, the average weighted interest rate on the loans provided to non-bank legal entities in tenge made 18% ( 18.3% for individuals).

In general, the amount of business loans in March 2016 in Kazakhstan made 12tr 486bn 500mn tenge. Long-term crediting made 10tr 298bn 100mn tenge and short-term crediting made 2tr 188bn 400mn tenge.