During a month, a decrease in lending became more distinct: -1.0% compared to October, the volume of loans returned to the value of early 2017, so from the beginning of the year - almost a zero growth.The outflow of deposits slightly slowed to 1.6% for the month (from the beginning of the year the outflow already amounted to more than 3%). The strong fall in deposits of legal entities during 2017 (by more than 7% from the beginning of the year) is partly compensated by the weak growth in retail deposits (+1.7% from the beginning of the year). Due to an outflow of deposits denominated in foreign currency and a growth of deposits in the national currency of retail customers, the adjusted dollarization was 54.43%, with a decrease of almost 2pp. This tendency in deposits of individuals is probably due to the reconversion in view of a two-month tenge strengthening and a strong increase in oil prices.Dollarization of deposits of legal entities with the adjustment for the rate, on the contrary, increased to 43.77% against 43.49% in October. As a result, at the end of November, taking into account the adjustment to the exchange rate, 48.6% of deposits in the depository organizations of the country are expressed in currency (for comparison, in October - 49.1%). Despite the outflow of deposits, the liquidity of the banking sector in November rose to 37% (compared to 35% in October), which is apparently due to the provision of funding to 5 banks out of the top 10 in the amount of about T600 billion. Thus, the situation of excess liquidity in the system persists.The NBRK absorbs liquidity through instruments on the open market (repo, notes, deposits), mainly this process is carried out by issuing its own securities. The volume of withdrawals by NBRK notes remained unchanged - T2.8 trillion. During a month there was a slight decrease in deposits of banks on the accounts of the NBRK, apparently related to the overall outflow of deposits from customers of the banking system. As a result, at the end of November the gross volume of withdrawn liquidity slightly decreased and amounted to about T3.3 trillion (about T3.4 trillion last month), which is comparable to 23% of the loan portfolio of the banking system

  • Monetary policy and FX market;
  • Assets of the banking sector, deposits of the banking sector;
  • Loans of the banking sector and credit to economy;
  • Banking sector's liquidity;
  • Banking sector's profitability;
  • Top 10 banks major changes.

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