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Level of deposit dollarization in Kyrgyzstan reduces by 3.5 percent for year

In 2017, the level of dollarization of deposits in Kyrgyzstan reduced by 3.5 percent — from 51 to 47.5. The Chairman of the National Bank Toklunbek Abdygulov said today at a press conference.

According to him, the level of dollarization of loans also declined from 45 to 35 percent. At the same time, by the end of 2017, the loan portfolio grew by 16 percent, including in national currency — by 30 percent. Interest rates on loans decreased by 2.3 percent — from 18.3 to 16, in soms — from 22.2 percent to 18.8, in foreign currency — from 13.5 percent to 11.3.

«The number of non-performing loans at the end of the year decreased from 8.8 to 7.6 percent. There is a sufficient level of som liquidity in Kyrgyzstan today. The volume of the monetary base increased by 17 percent and amounted to 100 billion soms,» Tolkunbek Abdygulov concluded.