Individual retail deposit amount guaranteed by the state to remain unchanged in 2012

The individual retail deposit amount guaranteed by the state will remain at KZT 5 million ($33.7 thousand) in 2012, Kuat Kozhakhmetov, Chairman of the National Bank’s Committee for Supervision of the Financial Market and Financial Institutions, announced November 28 during an on-line conference at Bnews.kz.“This measure is provided for in respective draft legislation currently considered by the Senate”, Mr. Kozhakhmetov said.“In Russia, the individual retail deposit only stands at $23.8 thousand. Ours is quite a big amount. It enabled to boost the overall deposits. Population has a strong confidence in the banking system”, he said.He emphasized that in 2011 the household deposits have grown by 16%, not giving the precise number. “Household deposits have been growing faster than deposits of legal entities”.