National Bank of Kazakhstan gave a brief description of the country's loan market in 1999

/IRBIS, Feb.8, 00/ - In its press-release, devoted to current situation on financial market of the country, the National Bank of Kazakhstan gave a brief description of the loan market in 1999. It was said the loan activity of the banks of the second tier had grown. It was caused by a significant growth in the resources of the banks of the second tier. In 1999 amount of bank loans in the economy increased 59.2%, at KZT148.7 bln. Without exchange rate difference this figure rose 25.4%. Loans to small businesses equaled KZT39.8 bln (27% of total bank loans in the economy), 63.6% increase, and without exchange rate difference - 35.2%. It was also mentioned that "Despite the prevalence of short term assets in the loan portfolios of the banks the trend of bank reorientation to mid and long term investments was observed last year. It was mainly due to an increase in the amount of time deposits attracted and extension of their terms". Proportion of mid term and long term loans increased from 38% to 49.4% in 1999.