Tension still observed among people after February devaluation - banker
Almaty. April 9. KazTAG – Tension is still observed among the population in Kazakhstan following tenge devaluation in February, said Nina Zhusupova, chair of Kazkommertsbank.
"You remember how unpleasant it was for the market and for our bank. (...) We still observe this tension on the market. You know how? In our bank, for example, such parameter as money settlement on the current account has deteriorated," she said.
"What is the current account? Basically it is money which comes to the payment cards. The incoming sum has been growing every month, but I can say that if people simply used to pay with cards and lived peacefully, and saved some money on the cards, now we can see serious money outflow: as soon as money come, people try to withdraw them," she said.
In her words, people try to spend their money faster.
"Or probably to withdraw them and keep under the pillow," she said.
After the devaluation the structure of individuals' deposits has changed in the bank.
"Mostly we have dollar deposits now. We used to have about 50x50, that is 50 percent was in the currency and 50- in tenge. Now the structure has changed, I even can't say the number: 63% of the deposits are in the US dollars," she said.