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Volume of loans in national currency growing in Kyrgyzstan

According to the results of the first quarter of 2023, the loan portfolio of commercial banks in Kyrgyzstan grew due to an increase in loans in the national currency. Report on the monetary policy of the National Bank says.

In March 2023, compared to December 2022, loans in the national currency increased by 3.5 percent to 161.4 billion soms. Consumer loans (+7 percent) and trade (+4.4 percent) demonstrated high lending rates. At the same time, loans for mortgages grew by 3.5 percent, and for agriculture — by 1.2 percent.

The foreign currency loan portfolio decreased in January 2023, but by the end of March it recovered to the level of December 2022. Due to this, dollarization of the loan portfolio decreased in March 2023 by 0.6 percent up to 22.9 percent.

Interest rates of the loan portfolio in the national currency remained at a high level against the backdrop of a tight monetary policy.

«The share of overdue loans in the loan portfolio increased by 0.2 percent since the beginning of the year, amounting to 2.9 percent. The share of extended loans in relation to the loan portfolio continued to decline, but still remains at a high level, the value of the indicator was 8.3 percent in March 2023, having decreased by 0.7 percent since December 2022,» the National Bank said.

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