Bank deposits of Kazakhstan residents exceed their salaries

Kazakhstan residents are saving more money on their bank deposits than they officially make, Ranking.kz writes. According to the experts, bank deposits of Kazakhstan residents exceed their salaries pool 8-fold. The volume of retail deposits (fixed and escrow deposits) is growing twice faster than the salaries pool. The cumulative volume of deposits of the individuals grew 25 percent, i.e. by 600 billion tenge ($4 billion) in one year, while the cumulative volume of salaries grew only 10.8 percent, i.e. increased by 33.7 billion tenge ($225 million). “Banks’ clients placed 419 billion tenge ($2.8 billion) on fixed and escrow deposits in January, while Kazakhstan employers paid the total salaries worth 346 billion tenge ($2.3 billion). Thus, the total amount of deposits in 20 percent higher than the paid salaries,” the experts write. According to them, the overall strange statistics is fueled mainly by Almaty and Astana. The salaries pool in other regions exceeds the monthly deposits. The volume of bank deposits (fixed and escrow deposits of individuals) per capital made 176 thousand tenge ($1,173) as of January 2013. As of January 2012 bank deposits per capita equaled to 143 thousand tenge ($953).

Kazakhstan residents are saving more money on their bank deposits than they officially make, Ranking.kz writes. According to the experts, bank deposits of Kazakhstan residents exceed their salaries pool 8-fold. The volume of retail deposits (fixed and escrow deposits) is growing twice faster than the salaries pool. The cumulative volume of deposits of the individuals grew 25 percent, i.e. by 600 billion tenge ($4 billion) in one year, while the cumulative volume of salaries grew only 10.8 percent, i.e. increased by 33.7 billion tenge ($225 million). “Banks’ clients placed 419 billion tenge ($2.8 billion) on fixed and escrow deposits in January, while Kazakhstan employers paid the total salaries worth 346 billion tenge ($2.3 billion). Thus, the total amount of deposits in 20 percent higher than the paid salaries,” the experts write. According to them, the overall strange statistics is fueled mainly by Almaty and Astana. The salaries pool in other regions exceeds the monthly deposits. The volume of bank deposits (fixed and escrow deposits of individuals) per capital made 176 thousand tenge ($1,173) as of January 2013. As of January 2012 bank deposits per capita equaled to 143 thousand tenge ($953).

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