Assets of Kazakh banks up 7.5% in 2016 – Nat’l Bank

Kazakhstan Cen.bank Cuts Policy Rate To 10.25 Pct

ALMATY. April 27 (Interfax) – The assets of Kazakhstan’s banking sector increased by 1.8 trillion tenge (up 7.5% since this January) to 25.6 trillion tenge ( 312.44 tenge/ $ 1) in 2016, the National Bank said in its annual report.

In the reporting year, the loan portfolio of Kazakhstan’s banking sector amounted to 15.5 trillion tenge, or a decrease of 0.3%, as of January 1, 2017 and “provisions, formed in accordance with the requirements of international financial reporting standards, on the loan portfolio of the banking sector amounted to 1.6 trillion tenge, or 10.6% of the total loan portfolio,” the National Bank said in a statement.

Last year loans with 90 days overdue on the principal debt and (or) accrued interest amounted to 1 trillion tenge, or 6.7% of the total loan portfolio of the banks, liabilities of the banks increased by 1.4 trillion tenge, or 6.7% and amounted to 22.7 trillion tenge, according to the report.

As of January 1, 2017 there were 33 banks operating in Kazakhstan.

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