Volume of term deposits increases by 3.2 billion Tenge in Kazakhstan
The volume of deposits in Kazakhstan increased by 3.2 trillion tenge or by 40% over the last year. At the same time retail deposits increased by 1.9 trillion tenge and corporate deposits grew by 1.3 trillion tenge, finprom.kz reported. According to the experts, the increase was also caused by revaluation of foreign currency deposits due to changes in the national currency. At present the main competition revolves around tenge deposits. The average interest rate on retail deposits increased from 8% to 12% per annum since the beginning of this year. The maximum interest rate offered to retail depositors reaches 15% per annum. Interest rates on retail deposits in foreign currency fell to 2.9% from 3.4% per annum since the beginning of the year.