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    Kazakhstan

    Kazakhstanis' term deposits increase by 2.5%

    Kazakhstanis' term deposits increase by 2.5%

    The population of Kazakhstan has deposited nearly KZT 15 trillion in term deposits at second-tier banks.

    Based on the data provided by ranking.kz, there has been a notable uptick in investment activity over the course of the month, with a 2.5% increase recorded.

    In addition to monthly growth, fixed-term contributions have increased significantly over several years. For example, in one year, the amount increased by 31%.

    A bank in Kazakhstan has become a leader in attracting urgent investments, offering a return of 10% per month. In its portfolio, the total deposit amount was nearly KZT 260bn.

    Reportedly, all banks in Kazakhstan, except the National Bank, are second-tier banks that aim to make profits. They can legally open subsidiary banks, branch offices, and representative offices in and outside the country, as per the law "On Banks and Banking in the Republic of Kazakhstan" from 1995.

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    28.08.2023, 12:03   Comments (0)   729
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