Deposits denominated in foreign currencies 72% up in Kazakhstan

Kazakhstan’s banks assets grew by 17.9% in 2014, reaching $98 billion, according to the country's Central Bank.

The banks’ liabilities for the period grew by 18.7%, reaching $85.8 billion. Deposits account for 71.5% of the banks’ liabilities in Kazakhstan.

According to the Central Bank, deposits of the country’s residents grew by 15.9% to $63.2 billion. Deposits denominated in the tenge, Kazakhstan's national currency, fell down by 17.7% to $28 billion, with deposits denominated in foreign currencies growing by 72.2% to $35.1 billion. Household deposits (including those of non-residents) for the period grew by 12.5% to $23.9 billion.

Lending operations grew by 7.2%, making up $65.4 billion, with 14,8% of the amount being lent to small businesses.

As of January 1, 2015 the share of loans after being in default for 90 days made up 23.5% of the overall loan portfolio as compared to 31.2% as of January 1, 2014.

As of January 1, 2015, Kazakhstan’s banking sector comprises of 38 banks.