Deposits in Kazakh banks are nearing 40 trillion tenge.

2024-12-09 09:31:47https://kt.kz/rus/finansy/vklady_v_kazahstanskih_bankah_priblizhayutsya_k_40_trln_tenge_1377971920.html

Astana. December 9. KAZAKHSTAN TODAY - Deposits in Kazakhstani banks reached a record 39.3 trillion tenge by November, marking a significant increase of 18.7% year-on-year. Among these, household deposits rose by 21% to 22.7 trillion tenge, while business deposits increased by 15.7% to 16.6 trillion tenge, as reported by ranking.kz .

In the top ten banks holding deposits, 8 financial institutions showed a positive annual dynamic, while a total of 16 banks in the sector saw growth.

The leader in annual growth among the country's banks was Bereke Bank, with an impressive increase of 55% to 1.4 trillion tenge. Specifically, individual deposits at the financial institution surged by 61.7% over the year, while legal entity deposits grew by 50.4%.

In second place for annual deposit growth among the largest banks was ForteBank, which saw an increase of 31.3% to 2.9 trillion tenge. Individual deposits at the bank rose by 19.9% over the year, and legal entity deposits increased by 38.1%.

Rounding out the top three leaders is "Bank CentrCredit," with a growth of 29.6% to 4.7 trillion tenge. Household deposits at the bank grew by 28.1% over the year, while business deposits rose by 31.3%.

Other leading financial institutions in Kazakhstan, such as Kaspi Bank (up 25% year-on-year), Bank RBK (up 20.7%), Halyk Bank (up 17.8%), Jusan Bank (up 7.6%), and "Otbasy Bank" (up 2.5%), also reported positive growth.

Notably, in the overall portfolio of deposits of Kazakhstani banks, household deposits accounted for 57.7%, compared to 42.3% for business deposits. For comparison, the ratio a year earlier was 56.6% for households and 43.4% for businesses, while from 2018 to 2022, the ratio was nearly balanced.

Meanwhile, until 2018, household deposits made up less than half of the total deposit basket of Kazakhstani banks.

Recall that at the end of November, the Monetary Policy Committee of the National Bank of Kazakhstan raised the base rate to 15.25% per annum with a corridor of +/- 1 percentage point.