Why is this important
The reduction of microcredit rates from 35%+ to 32.7% is a relief for small businesses, borrowers, and a reduction in the debt burden. 32.7% are still high (2.3 times higher than the Central Bank’s 14% rate), but the trend is positive. Difference 40.6% (Anor Bank) — 24.9% (Infinbank) — competition between banks. Car loans are stable at 24.3% — affordable financing for car purchases stimulates demand.
What happened
- The interest rate on microloans is 32.7%, decreasing for the second month;
- The leader is Anor Bank (40.6%), the lowest — Infinbank (24.9%);
- Car loans — 24.3%, stable for several months;
- The leader is Universal Bank (30%), the lowest is Garant Bank (17.8%).
Microloans
- Average rate: 32.7% — decrease from 35%+ in July due to the strict policy of the Central Bank (rate 14%), tightening of regulation of MFO, competition of banks.
TOP-5 most expensive:
- Anor Bank — 40,6%;
- TBC Bank — 40,0%;
- Tenge Bank — 39,8%;
- Apex Bank — 39,5%;
- Octobank — 37,9%.
TOP-5 cheapest:
- Infinbank — 24,9%;
- BRB — 25,5%;
- Trastbank — 25,6%;
- OFB — 26,1%;
- Aloqabank — 26,3%.
Car loans
- Average rate: 24.3% — stable for several months, result of state support for car loans, competition of banks.
TOP-5 most expensive:
- Universal Bank — 30,0%;
- Madad Invest Bank — 27,9%;
- SQB — 27,4%;
- Trastbank — 26,6%;
- Asia Alliance Bank — 26,4%.
TOP-5 cheapest:
- Garant Bank — 17,8%;
- Infinbank — 19,1%;
- Ipoteka Bank — 19,7%;
- OFB — 21,2%;
- BRB — 22,3%.
Why are microloans decreasing
- Central Bank’s strict policy: 14% rate — banks are lowering loan interest rates to maintain competitiveness.
- Regulation of MFO: The Central Bank is tightening requirements for MFO (capital, reserves, NPL), which reduces their ability to set high rates.
- Competition: Banks compete for borrowers by lowering interest rates. Infinbank (24.9%) offers the lowest rates, selecting customers from Anor Bank (40.6%).
Why car loans are stable
- State support: preferential car loans (up to 5 billion for 18-22%) for businesses hiring graduates.
- Competition: Banks compete for car loans, offering rates of 17.8-30%.
- Demand: Income growth (+19% of salary) stimulates demand for car loans.
Dispersion of bets
- Microloans: 40.6% (Anor Bank) — 24.9% (Infinbank) = 15.7 p.p. — huge disparity, shows the absence of a unified pricing policy, competition.
- Car loans: 30% (Universal Bank) — 17.8% (Garant Bank) = 12.2 p.p. — also a large spread.
Context
- 32.7% — still high: 2.3 times higher than the Central Bank rate (14%). Microloans are riskier than deposits and require a high margin to cover defaults (NPL 5-10%).
- Decrease — positive trend: from 35%+ to 32.7% — relief for small businesses, borrowers. Further reduction depends on the Central Bank’s policy, regulation, and competition.
- Car loans 24.3%: available financing for car purchases. The average car price is $14,330, a 3-year loan at 24.3% — monthly payment of $500-600, available for middle class (salary $500-700).
- Garant Bank is the leader in low rates: 17.8% car loans, 32.9% microloans — a competitive advantage.
