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