National bank of Kazakhstan desribed the deposit market in February 2006

/IRBIS, Dinara Mukasheva, March 7, 07/ - The National Bank of the Republic of Kazakhstan in its regulative press-release, dedicated to the state of financial market of the republic, cited information about the condition of the deposit market of Kazakhstan in February 2007. Quotation start Total volume of deposits of residents in the banking system in January 2007 compared to December 2006 decreased by 3.4% up to KZT3,008.7 bn. The deposits of legal entities decreased by 5.5% to KZT1,959.4 bn., deposits of physical entities increased by 0.7% to KZT1,049.4 bn. In January 2007 deposits in the national currency increased by 4.2% to KZT2,113.7 bn., deposits in a foreign currency decreased by 17.7% to KZT895.1 bn. As a result, the unit weight of deposits in tenge increased from 65.1% to 70.3%. Public deposits (taking into account nonresidents) in banks during the month increased by 0.7% to KZT1,062.8 bn. In January 2007 in the structure of public deposits tenge deposits increased by 5.6% to KZT746.2 bn. and deposits in a foreign currency decreased by 9.2% to KZT316.6 bn. As a result, the unit weight of tenge deposits increased from 66.9% to 70.2%. Rate dynamics on banks' deposits were described by the following changes. In January 2007 the weighted average interest rate on tenge time deposits of non-bank legal entities totaled 5.2% (in December 2006 - 4.5%), and on deposits of physical entities - 9.9% (9.8%). Quotation end [2007-03-07]