The amount of deposits of individuals in Kazakhstan has reached a record 18 trillion tenge

As of July 1, 2023, deposits of individuals in the country's banks reached the level of 18 trillion tenge - 1.1 trillion tenge (or 6.4%) more than at the beginning of the year. The leader in the growth of deposits of individuals since the beginning of the year has become Kaspi.kz : plus 541.7 billion Such growth is several times higher than the results of other STB RK. By the end of June this year, the portfolio of deposits of individuals in the bank reached 4.2 trillion tenge. The second line was taken by the Eurasian Bank with an increase in deposits of individuals by 155.5 billion tenge, up to 1 trillion. Freedom Finance Kazakhstan closes the top 3: plus 134.4 billion tenge, up to 443.7 billion," reports Ranking.kz . The growth in the volume of deposits in the STB of the Republic of Kazakhstan indicates that customers see deposits as a reliable tool for preserving and increasing their finances, the agency emphasizes. Currently, the country's banking sector is represented by 21 second-tier banks, while the main concentration of deposits of individuals falls on the largest financial institutions, among which the aforementioned banks. The top 5 STBs of the Republic of Kazakhstan consolidate more than 80% of all deposits," the information says. Deposits of individuals in the country's banks are also growing in long-term dynamics, despite global geopolitical shocks. Over the year, the amount of such deposits increased by 4.3 trillion tenge (or 31.3%). If we consider a five-year period, the amount has increased more than 2 times, and in ten years - almost 5 times. Thus, it can be noted that, despite the global crises, the STBs of the Republic of Kazakhstan continue to attract deposits, which indicates the financial stability and development of the banking system," the agency summarizes. Earlier it was reported that inflation in Kazakhstan decreased to 14% in July.