Kazakhstan residents have started to take out more consumer loans.

“As of the end of the first nine months of the current year, consumer loans have increased by 24.7% to 12.9 trillion tenge, while microfinance organizations (MFOs) have seen a rise of 5.8% to 1.3 trillion tenge. The share of problematic loans remains at a moderate level: 5.2% in banks and 12.3% in MFOs,” the agency reported.

The agency reminded that to ensure a proper assessment of borrowers' creditworthiness, the calculation procedure for the debt burden ratio has been tightened. This ratio limits the total amount of loan payments to 50% of the borrower's income. Specifically, since April of this year, the requirement for calculating the debt burden ratio has been extended to all borrowers and all loans (except for loans issued under housing savings programs).

Additionally, three indirect income criteria (utility bills, online shopping, and property ownership) have been removed from the income assessment criteria for borrowers. These measures aim to prevent the issuance of loans to individuals who do not have sufficient income to service their debts.