The total volume of deposits has been exceeding the total volume of loans in the banking sector for the sixth consecutive month.
Despite the basic rate reduction from 15% to 13%, maximum yield rate recommended by Kazakhstan Deposit Insurance Fund.
Reduction of tension in the foreign exchange market fuels people’s interest in tenge deposits.
In February it decreased by 2% and in March by 1%.
The main reasons for the decline are: conversion of foreign currency deposits at a lower rate.
The volume of deposits in foreign currency decreased by 5.3% to 10.9 trillion tenge.
At the same time, foreign currency deposits decreased from 5% to 5.44 trillion tenge.
For comparison, in January 2015, the deposit base grew by only 9.3% from the same period a year earlier.
The overall reduction in national currency deposits amounted to 21.5 billion tenge.