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Foreign currency-denominated deposits grow visibly in June

28 july 2011, 05:52
Photo courtesy of businesspundit.com
Photo courtesy of businesspundit.com
Foreign currency-denominated deposits saw a visible increase in Kazakhstan in June 2011, Anatoly Khegai, Forex Club analyst, told Profinance.kz.

Overall individuals’ deposits grew by $732.7 million in June, reaching $16.7 billion. According to Mr. Khegai, this testifies to growing confidence in the banking sector.

Individuals’ deposits in June mostly grew due to growing foreign currency-denominated deposits. Tenge-denominated deposits incresed by 3.6%, with foreign currency-denominated deposits increasing by 6%.

“Individual deposits are likely to grow more than expected earlier. The figure may grow by 20% by the year end, reaching $18.1 billion. The share of tenge-denominated deposits is expected at 57% (against the current 58.17%)”, Mr. Khegai believes.

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