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  • 94% of Kazakh citizens’ deposits fall on the country’s 10 top banks
3 December, 2019 10:37

94% of Kazakh citizens’ deposits fall on the country’s 10 top banks

Household deposits account for 8.4 trillion tenge out of top 10 banks’ 8.9 trillion tenge of retail as of October this year, come to 94.3% against 94.2% a year earlier and 87.9% five years ago, Ranking.kz informs.

94% of Kazakh citizens’ deposits fall on the country’s 10 top banks | Strategy2050.kz

Back 10 years ago there were 36 banks in the retail deposit market, and 38 second-tier banks five years earlier, while two years ago only 33 financial institutions operated, and 28 and 27 in 2018 and by late October of 2019, respectively.

Within a single month, retail deposits saw a 1.1% rise, with all the top 10 second-tier banks adding 1% compared in this September. 8 of them made profits.

ForteBank, a leader in terms of monthly growth of household deposits: 4.9%, or 26 billion tenge, up to 559.9 billion tenge, making up 6.3% of the retail deposit market.

The Bank offers Kazakh citizens various deposits both under flexible terms both with the possibility of replenishment and partial withdrawal, and without withdrawals and replenishment, but with higher interest rates. The Bank’s total amount of deposits grew by 6.3%, up to 1.2 trillion tenge within the month.

ATF Bank (+ 4.7%, or 14.5 billion tenge, up to 321.1 billion tenge) and Bank RBK (+ 3.3%, or 5.5 billion tenge, up to 173.3 billion tenge) were second and third in terms of retail deposit growth.

Physical persons’ deposits saw a 5.7% year-on-year growth, or 484.1 billion tenge, making up 49.9% of the second-tier banks’ overall deposits, compared with 50.1% in the previous year, second to corporate deposits.

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chronicle 2050

SMEs will make up at least 50% of the GDP

abour productivity will reach up to $126 000 and 3 to 6 y.o. kids will have 100% access to pre-school education in Kazakhstan.

Kazakhstan will fully satisfy its own market of POL in compliance with the new environmental standards

The share of non-primary exports in total exports will double and triple by 2040

Transition to Latin graphics will commence

95% of the population will speak Kazakh

15% of the area under cultivation will make use of water-saving technologies.

The issue of providing water for irrigation will be resolve

GDP per capita will stand at $60 000

The urban population will represent 70% of the total population in Kazakhstan