Fewer Kazakh residents take loans in foreign currency

According to the information over five months of this year, fewer Kazakh residents take loans in foreign currency. Overall, the volume of bank loans in the economy over this period amounted to 19.5 trillion tenge (US$40.6 billion), ranking.kz reported. 8.3 percent of them, or 1.6 trillion tenge (US$3.3 billion) were issued in foreign currency. This is about 20 percent less than in the same period last year. Loans issued to individuals in US dollars more than halved, totaling 14.6 billion tenge (US$30.4 million). In terms of the regions, 73 percent of foreign currency loans are accounted for the city of Almaty, followed by East Kazakhstan region and Shymkent city. However, the volume of loans in US dollar significantly reduced in this top three as well. As such, in fact, the portfolio of foreign currency loans tends to a minimum, whereas the indicators are noticeably inferior even to the figures of twenty years ago.

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