The deposit base continued to grow in the second quarter of 2023, which is mainly due to an increase in foreign currency deposits. Report on the monetary policy of the National Bank of Kyrgyzstan says.
It is noted that as of the end of June 2023, the deposit base in the national currency has increased by 11.4 percent since the beginning of the year and amounted to 205.4 billion soms. This growth is associated with an increase in the volume of non-term deposits, the share of which in the soms deposit base amounted to 63 percent. Demand deposits have increased by 24.1 percent since December 2022, current accounts — by 4 percent, term deposits — by 10.5 percent.
The deposit base in foreign currency increased by 18.1 percent due to the growth of non-term deposits, the share of which in the deposit base in foreign currency amounted to 82.3 percent. Number of settlement accounts grew by 18.4 percent, demand accounts — by 12.9 percent, term deposits — by 30.1 percent.
The dollarization of deposits increased to 47.1 percent (+1.6 percent from December 2022).
«The rates on term deposits in the national currency remained at a high level with a slight downward trend. In June 2023, the interest rate on term deposits in the national currency (balances) decreased by 0.2 percent compared to December 2022 and amounted to 12.1 percent. Rates on newly accepted term deposits in the national currency decreased by 1.1 percent to 10.7 percent,» the National Bank informed.
