Deposits in foreign currency grow by 19.4% percent in Q3 due to growth of demand deposits

AKIPRESS.COM – The growth trend in the deposit base, which has been observed since the beginning of 2022 and is explained by the faster growth of demand deposits, continued in the third quarter of 2023, according to the National Bank of Kyrgyzstan.

As of the end of September 2023, deposits in national currency increased from the beginning of the year by 22.9% and amounted to 226.6 billion soms.

This growth was mainly due to an increase in demand deposits, the share of which in the deposits in soms increased to 65.8%, at the same time, fixed-time deposits showed an increase of 12.6%

In the structure of demand deposits in the national currency, the main share is held by current accounts (62.1%), which have increased by 32.2% since the beginning of the year, while demand deposits increased by 24%.

Considering the structure of settlement accounts in national currency by persons, 66.7% account for settlement accounts of resident legal entities (+18.7% since the beginning of the year), as well as settlement accounts of government bodies (28.5%), which grew by 79.3% since the beginning of the year.

The deposits in foreign currency increased by 19.4 percent due to the growth of demand deposits, the share of which in the deposit base in foreign currency amounted to 83.6%.