Monday, 25 November 2019 13:17

Media: Financial market of Kazakhstan is up

According to the results of the 3rd quarter of 2019, total outstanding loans of physical persons reached 7 trillion tenge. It is 7.4% higher than the figure of the previous quarter and makes over 500 billion tenge. The press service of the First credit bureau told this to the Kapital.kz business information center.

Compared to the beginning of the year, the market grew by 16%. The number of credit contracts keeps growing as wells and totaled over 13 million credit contracts.

As of October 1, 2019, mortgage lending and consumer lending without a bail totaled 26.3% and 53.2% in the portfolio structure.  7.4% of the total portfolio falls to the share of automobile lending. 2.8% accounts for the credit cards. 

The share of the second-tier bank in general volumes totaled over 95% during January-September. The rest 5% belong to MFOs, online lending companies, etc.

“Further development of the consumer credit market will be determined by conditions of the new regulation of MFO and requirements to settlement of debt burdens, which shall gain force from January 1, 2020”, the First Credit Bureau said.

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