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Monday, September 28th, 2020

KAZAKHSTAN SEEN OVER 166 THOUSAND ACTIVE SMES AS OF OCTOBER THIS YEAR

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by November 5, 2019 Fun

There are over 166 thousand active small and medium companies across the country, with the banks willing to provide loans to SMEs, 4 out of 10 registered SMEs are active, Ranking.kz informs.

This October has seen 5.9 thousand medium and 160.2 thousand small active companies, total 166.1 thousand SMEs throughout the country, a year-on-year increase of 4.1%.

Out of total existing SMEs, 55.9% fall on actively operating companies, and 37.6% out of total registered companies. In major businesses, in contrast, 97.2% of the total existing businesses are active and 94.8% are registered.

Unlike major businesses with own funding resources, SMEs turns to banks, seeking support to function well.

The minimum effective annual percentage rate of 13.2% for SMEs can be found in ATF Bank alongside Halyk Bank with effective annual percentage rates of 13.5%, 14.2% and 14.8% and Jysan Bank fr om 15%.

ATF Bank and Bank CenterCredit are the only banks to provide loans without amount lim it. Jysan Bank and Halyk Bank provide loans up to 5 billion tenge, ForteBank up to 2 billion tenge, and NurBank up to 1 billion tenge.

Up to 120 months of loan tenure are provided by 4 second-tier banks, up to 84 months by 10 banks and up to 60 months by 12 banks. Thus, 19 out of 27 second-tier banks offer loans for SMEs in Kazakhstan.

Source: Kazakhtan 2050

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