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Dollarization of loan portfolio of commercial banks reaches 29.3 percent

Dollarization of the loan portfolio continued hitting its historical lows and reached 29.3 percent by the end of the third quarter. Report of the National Bank of Kyrgyzstan on the monetary policy says.

It is noted that compared to December 2020, the indicator decreased by 3.6 percent. The loan portfolio in foreign currency continues to decline since March last year after a sharp appreciation of the U.S. dollar.

«But at the same time, the banks’ loan portfolio itself is growing due to the growth of loans issued in the national currency. A significant increase in loans was observed in the sectors of consumer loans, trade and mortgage. Growth of the loan portfolio in national currency in such industrial sectors as industry and agriculture has slowed down,» the National Bank said.