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Retail deposits up by 61.7% in May as a result of exchange rate revaluations. Halyk Bank and Kazkommertsbank account for 41% of retail deposits

14 July 2016

 

 

Retail deposit portfolio of Kazakh commercial banks. May 2016

14 July 2016

Kazakh commercial bank’s retail deposit portfolio increase by 61.7% year on year to KZT6.9tn in May. However, steady growth was replaced with slight decrease at the beginning of the year but it somewhat picked up in the given month. Understandably, to a large extent growth in tenge-denominated deposits was thanks to the exchange rate shock last year and this trend cooled off inly after the official exchange rate of the national currency stabilised. The tenge weakened by 79.1% year on year against the dollar in May.

The share of retail deposits in Kazakh commercial banks increased by 39% to 43% of the total in the past year.

Halyk Bank and Kazkommertsbank accounted for 41% of total retail deposits, with Halyk’s share practically unchanged at 20% and that of Kazkommertsbank increasing from 15.4% to 19.9%.

Leaders in terms of retail deposits are Halyk (21% of total deposits), Kazkommertsbank (20%) and Kaspi Bank (9%). Halyk increased retail deposits by KZT658bn (80%) between May 2015 and May 2016, Kazkommertsbank by KZT474 (52%) and Kaspi by KZT189bn (45%). Among the top 10 banks, Tsesna posted the highest growth – 114%, while Sberbank saw a growth of 72.6%.

Among the top 20 banks, Nurbank posted a decrease of 1% in retail deposits despite the sharp depreciation of the tenge.

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