Transformer crisis: how the ratio of deposits and loans in banks is changing. Calculation of indicators of the state and performance of credit institutions Reduce the ratio of loans to deposits ldr
What is the "leverage ratio - LTD"
The ratio of loans to deposits (LTD) is a widely used statistic for assessing bank liquidity by dividing the bank’s total loans by its total deposits. This number is expressed as a percentage. If this value is too high, this means that the bank may not have enough liquidity to cover any unforeseen needs for the fund, and vice versa, if this ratio is too low, the bank may not earn as much as it could.
ENTERTAINMENT “Loan Deposit Ratio - LTD”
To calculate the LTD ratio, take the total amount of loans provided by the bank for a certain period of time, and divide them by the amount received by the bank for the same period. For example, if a bank lends $ 3 million and it accepts $ 5 million in deposits over the same period, it has an LTD ratio of 3/5 or 60%.
What causes changes in LTD ratios?
Multiple factors can cause changes in LTD ratios. For example, when the Federal Reserve lowers interest rates, low rates encourage consumers to take loans. At the same time, however, these rates prevent investors from investing or buying securities, thereby increasing the amount of cash that they tend to invest in bank accounts. Such shifts can reduce the overall LTD ratio. For example, in 2008, the overall LTD ratio for US commercial banks was 100%, but after several years of low interest rates after the global financial crisis, the ratio dropped to 77% in 2015.
What is the ideal LTD ratio?
Tradition and caution indicate that the ideal LTD ratio is between 80 and 90%. However, banks must also consider the relevant rules. The Office of the Currency Controller (OCC), the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (FDIC) do not set minimum or maximum LTD ratios for banks. However, these agencies monitor banks to see if their ratios are consistent with Section 109 of the 1994 Interstate Banking and Wind Energy Efficiency Riegle-Neal Act.
How are LTD coefficients used?
With respect to section 109, banks are not permitted to establish branches in states other than their home states with the sole purpose of collecting deposits. In order to contribute to this activity, if a bank establishes a branch in another state, OCC, Fed and FDIC consider LTD's relation to the bank and compare it with the general ratio of other banks in the receiving state. If these ratios are very different from each other, and the bank does not serve credit needs of their communities, this violates the law and is subject to sanctions. In addition, LTD is often used by policy makers to evaluate lending practices of financial institutions.
It depends on two components: income and expenses.
The growth rate of income and expenses
A comparison of the growth rates of these components allows us to evaluate which of them had a positive or negative impact on profit.
- Turbojet engine - revenue growth rate;
- D 1 - Bank income in the reporting period;
- D 0 - Bank income in the previous period;
- TPP - growth rate of expenses;
- P 1 - Bank expenses in the reporting period;
- P 0 - Bank expenses in the past period.
Income growth elasticity coefficient
The coefficient of income growth elasticity is calculated, which is defined as the ratio of the growth rate of income to the growth rate of bank expenses. If this coefficient is greater than one, then this indicates an economical expenditure of funds, and, conversely, if it is less than one, then this is an uneconomic use of funds.
The value of the coefficient of elasticity for interest income usually exceeds one, for non-interest, as a rule, less than one.
Non-interest expense coverage by non-interest income
Of great importance in banking practice is the level of coverage of non-interest expenses with non-interest income:
- D n - non-interest income;
- R n - non-interest expenses.
The value of this indicator in foreign banking practice is set at 50, i.e. the level of non-interest income should be at least 50% of non-interest expenses.
Profit structure ratios
It is necessary to identify the degree of impact of various active operations of the bank on the formation of its profit. For this, the profit structure coefficients are used:
- K1, K2, K3 - the coefficients of the structure of profit;
- D chko - net income from credit operations;
- D CZB - net income from operations with securities;
- D chpo - net income from other operations;
- P - profit.
By calculating these coefficients, those operations of a commercial bank that bring it the largest share of profit are revealed.
Profitability and Profitability
The main indicators of the bank's performance are traditionally considered indicators of profitability, profitability (profitability).
The profitability of various banking operations is determined through indicators:
- net interest margin;
- operating margin.
Net interest margin
Net interest margin calculated by the formula
- Npm - net interest margin;
- D p - interest income for the period;
- P p - interest expenses for the period;
- A d - income-generating assets.
Operating margin
Operating margin - profitability of the main operations of the bank. It is calculated by the formula
- D os - net income from basic banking operations;
- A d - income-generating assets.
Net income from basic banking operations is calculated by summing up:
- net interest income;
- net income from foreign exchange transactions;
- net income from operations with securities;
- net income from leasing operations;
- net income from operations with precious metals.
Profitability of other operations calculated by the formula
- D chpo- net income from other operations;
- A d - income-generating assets.
Net income from other operations is the sale (disposal) of property, write-off of receivables, payables, leasing of property, other operations.
Profitability of commission operations is calculated using the formula
- D to - profitability of commission operations;
- D hk - net fee and commission income;
- A d - income-generating assets.
Spread profit
The traditional indicator of bank profitability is spread profit:
- D p - interest income;
- P p - interest expenses;
- A d - profitable assets;
- P in - Bank liabilities for which interest is paid.
With the help of the spread, it is estimated how successfully the bank acts as an intermediary between depositors and borrowers and
how intense is competition in the banking market. Increased competition usually leads to a reduction in the difference between average income from assets and average expenses from liabilities. In this case, provided that all other factors remain unchanged, the bank’s spread is reduced, which forces the bank to look for other ways to make a profit.
Also, this indicator is valuable in that it isolates the effect of interest rates on the financial result of the bank, thereby allowing a better understanding of the degree of vulnerability of the bank’s profitable operations. Comparison of this indicator with a similar one for a group of related banks, as well as calculated on average for Russia or a region, will make it possible to evaluate the effectiveness of the bank's interest rate policy.
Comparison of profitability indicators allows you to identify the most effective operations of the bank, taking into account the ROA indicator, also determine the operations that affect the change in the financial result. It should be borne in mind that:
- the operating margin indicator indicates the place in the Bank’s active operations of traditional banking operations (loan operations, operations with securities and operations with foreign currency);
- a significant excess of the asset profitability indicator over the net interest margin indicator characterizes the bank's ability to receive interest income and indicates a high specific weight in assets of the bank of assets not related to interest income, or the presence of a significant share of commission income in bank income.
Therefore, it is necessary to consider the rate of return on commission transactions. The low value of this indicator indicates a lack of attention of the bank to the development of new banking services, which is one of the reserves to increase the profitability of the bank.
Comparison of profitability indicators in the dynamics for a number of reporting dates and their comparison with the average values \u200b\u200bfor the corresponding group of banks allows us to determine the growth (decrease) of profit, identify the factors that have the greatest impact on its change, draw a conclusion about the financial stability of the bank and determine the reserves for improving work efficiency bank.
Bank profitability
The profitability (profitability) of a commercial bank is usually defined as the ratio of retained earnings to total income:
- P total - bank profitability;
- P - profit;
- D - bank income.
The overall level of profitability allows you to assess the total profitability of the bank, as well as profit per 1 ruble. income (share of profit in income). This is the main indicator that determines the effectiveness of banking.
Profit per bank employee is a mechanism for the aggregate assessment of the profitability of all bank personnel:
- N h - net profit of the bank;
- OCP - total number of staff.
The profitability of a commercial bank is estimated using financial ratios. The system of profitability ratios includes the following key indicators:
- the ratio of profit and equity;
- ratio of profit and assets;
- ratio of profit and income.
The methodology for calculating these indicators depends on the country's accounting and reporting system.
In the numerator of these financial ratios is always the calculated financial result of the bank at the reporting date. Under the current system of accounting and reporting in Russia, the numerator contains retained earnings; with foreign accounting standards, the net profit.
Capital profitability
World practice shows that the determining indicator of the effectiveness of bank capital is maximizing the value of equity while maintaining an acceptable level of risk. Along with the market price of the bank’s shares, an important indicator of evaluating the bank’s activities is the ratio of net profit to equity (ROE in foreign practice). This indicator characterizes how efficiently the owners' funds were used during the year, i.e. This is a measure of profitability for bank shareholders. It sets the approximate amount of net profit earned by shareholders from investing their capital.
In domestic practice, the profitability of capital is calculated by the formula:
- PC - profitability of capital;
- P B - retained earnings for the period;
- SC - the amount of equity in the period.
The profitability ratio characterizes the ability of own funds to make a profit and allows you to assess the possibility of real growth in equity in the amount adequate to the growth of business activity.
The obtained value of capital profitability is recommended to be compared with indicators of capital adequacy (an increase in the first indicator with a decrease in the value of the second indicates an expansion in the range of risky operations).
Asset profitability
Asset Profitability (ROA) is one of the main factors allowing to quantify the profitability of the bank.
- ROA - return on assets;
- P B - retained earnings;
- A is the total balance sheet asset for the period.
The profitability of assets characterizes the ability of the bank’s assets to make a profit and indirectly reflects their quality, as well as the effectiveness of the bank’s management of its assets and liabilities.
A low ratio may result from a conservative credit policy or excessive operating expenses; a high value of the indicator indicates a successful disposal of assets.
This indicator can be modified:
A d - income-generating assets.
The difference between these two indicators indicates the bank’s ability to increase its profitability by reducing the number of non-earning assets.
In foreign practice, the numerator of these indicators is net profit.
It should be noted that under the conditions of growth in the profitability of assets and capital should be higher than the average inflation rate.
When managing profitability, the values \u200b\u200bof the profitability of assets and capital must be compared with the average value for the corresponding group of banks.
The indicators of asset profitability and capital profitability are fundamental in the system of financial ratios of bank profitability. However, high profits are usually associated with great risk, so you must simultaneously take into account the degree of protection of the bank from risk.
During the crisis, the volume of deposits is growing faster than the volume of loans. In prosperous times, the opposite is true.
An analysis of the development of the retail banking services market from the beginning of this century, prepared by Renaissance Credit Bank, showed that from 2000 to 2015, the ratio of the volume of deposits to the volume of loans changed from 7.3 to 2.2. Banks.ru found out what threatens the banking system this trend of rapid convergence of loans and deposits and what indicator can be considered ideal.
According to the analysis of the Renaissance Credit Bank, which the Banki.ru portal was able to familiarize itself with, at the end of 2015, the retail deposit portfolio in Russian banks reached 23.2 trillion rubles, and the volume of the portfolio of loans to individuals exceeded 10.7 trillion rubles. In 2000, the volume of the deposit market was ten times the credit market - 453 billion against 45 billion rubles, respectively. For 15 years, the ratio of deposits to loans in the banking system has “dropped” from 7.3 to 2.2.
“In 2008, the volume of deposits in our country exceeded the volume of retail loans by only 1.5 times. On the whole, from 2000 to 2015, this year was the only one when the retail credit market was able to surpass the deposit market in absolute growth, even despite the onset of the global financial crisis, analysts at Renaissance Credit write in their report. - In 2009, the trend turned in the opposite direction: as a result of the crisis in the global economy, the deposit market grew faster than the credit market, which, in turn, affected the ratio of deposits and loans. As the situation stabilized, the difference began to decrease again, and at the end of 2014 it almost reached the value of six years ago. At the end of 2015, the ratio of deposits to loans increased again. Such dynamics clearly shows that during the crisis periods the deposit market grows much faster than the credit market, and when the situation in the macroeconomic stabilizes, the loan portfolio has higher growth rates. ”
As explained by Banki.ru in the analytical service of Rencred, the decline in the ratio of retail deposits to retail loans is a natural process. Retail funding in our country began to develop earlier than lending to individuals. Therefore, at the beginning of the 2000s, the deposit portfolio already had a significant amount. Further, in the zero years, the development of retail lending was actively pursuing. As a result, over 15 years, the ratio of deposits to loans decreased to 2.2.
According to analysts at Renaissance Credit, it’s rather difficult to talk about a critical or optimal ratio of deposits and loans.
“Retail deposits are one of the main sources of funding for the banking system. However, depending on the availability and development of other sources, the role of deposits of individuals may vary. In the current situation, the value of deposits in funding is increasing, in particular, due to the fact that the ability of banks to borrow on foreign capital markets is very limited. And the results of last year confirm this. In other circumstances, retail deposits could play a lesser role, respectively, the ratio of deposits to loans would be different, ”the bank said.
Moreover, according to estimates of the analytical department of Renaissance Credit Bank, in the foreseeable future, most likely, the ratio of deposits to loans will continue to grow. There are several prerequisites for this. First, the role of retail funding is increasing in the structure of liabilities, while retail lending has slowed down and does not show signs of growth. Secondly, the deposit market has a “natural” source of growth - interest income. That is, even with zero net inflow, the deposit portfolio will increase due to the accrual of accrued interest to the amount of deposits.
According to Dmitry Lepetikov, Head of VTB 24 Marketing Strategy and Research, the aforementioned change in the ratio of deposits and loans reflects the situation on the market.
“At the beginning of the zero, retail lending in Russia was in its infancy, by 2014 it had already developed well, and the outstripping growth of deposits in 2015 was due to a drop in lending due to the crisis, as well as a significant currency revaluation of deposits,” he comments. - I would not talk about the optimal or critical ratio. It is as it is. During the crisis, this ratio should grow in favor of deposits, in the period of economic growth - in favor of loans. And so it is with us. ”
Elena Verevochkina, manager of the St. Petersburg branch of Rosgosstrakh Bank, believes that something like this is happening now: the continued growth of the banks' deposit base while at the same time cheapening it helps to reduce lending rates and resume active lending. Most likely, she suggests, the ratio would be somewhat different if not for the current crisis.
“We see that the deposit portfolio of individuals significantly increased, while the loan portfolio sank. And this is quite logical in the current situation: the accumulation regime and total savings, coupled with a decrease in consumer demand and an increase in overdue debts of citizens contributed to the multidirectional dynamics of loan and deposit portfolios, ”says Verevochkina. - Reducing the indicator from 7.3 to 2.2 is not dangerous. It is much more dangerous when the situation is mirror, that is, the loan portfolio exceeds the deposit portfolio by more than 30% and even more so twice. To say that this has a beneficial effect on the economy is also impossible. Of course, correlating the portfolios of individuals only is not entirely indicative; here it is also necessary to take into account the portfolios of legal entities. ”
Our interlocutor believes that, ideally, it is necessary to strive for a ratio of loans and deposits in a proportion of one to one. This proportion is optimal, since it indicates that the banking system finances loans issued at the expense of borrowed funds.
Nevertheless, according to Verevochkina, the ratio will change: at the end of 2016, this value will be in the region of 2, and in 2017 - 1.8. Thus, we will observe the stagnation of the deposit portfolio and the smooth growth of the loan portfolio of individuals.
In turn, Alexander Kudryavtsev, an analyst with the Banki.ru information and analytical service, points out that the official statistics on the Bank of Russia website are slightly different from the data presented in the Rencred tables (see below), but the general trend is indeed visible. The trend indicates a significant increase in the share of household deposits in the structure of the resource base of banks during the decline in retail lending, which is explained by the crisis in the banking sector and in the Russian economy as a whole. To a large extent, the situation was also affected by the closure of international capital markets for our banks and the growth of the key rate.
“Due to the decline in real incomes of the population, the payment discipline of customers is falling, which entails the repayment of loans. Naturally, this does not suit banks, many of which have tightened their policy in the field of issuing retail loans and are now more careful in choosing clients than in the "fat" years, when retail portfolios grew at a very high rate, or even prefer to place funds in less risky assets. We can say that this process is the reckoning of banks for too fast and disproportionate growth of portfolios of previous years, ”Kudryavtsev explains. - At the moment, the market itself is forcing banks to adjust the structure of their assets and liabilities to new conditions and allocate funds taking into account possible risks and losses in the future. It is likely that soon retail lending will again experience a period of growth and, accordingly, the ratio will return to its previous level (fifteen years ago). ”
The chief economist of the National Rating Agency (NRA) Maxim Vasin recalled that several parameters influenced the dynamics of deposits. Firstly, this is the introduction of a deposit insurance system since 2005 - until that time, the population did not trust banks very much, it simply did not have such an opportunity. Secondly, there was a devaluation of the ruble and an increase in interest rates on ruble deposits, as well as the amount and share of foreign currency deposits (in 2008 and 2014). At the moment, the dynamics of deposits is negatively affected by the depreciation of the ruble, the fall in real incomes of the population and lower interest rates on both ruble and foreign currency deposits.
The dynamics of retail loans is also affected by a number of parameters. This is the beginning of the work of banks engaged in unsecured lending (the countdown comes from Russian Standard Bank in 2003). Then the period of the consumer boom in 2004-2007, when loans grew from a low base many times faster than deposits. Do not forget about the crisis growth in the delay in consumer loans, first in 2009, and then in 2015. This led to a decrease in bank limits, increased requirements for borrowers, an increase in the number of failures, and a slowdown in the growth of loan portfolios. Currently, there is a slowdown in mortgage lending, as well as low growth rates show consumer and car loans, while deposits continue to grow.
“On the one hand, the Renaissance Credit multiplier indicates the correlation of the population’s propensity to consume and save: the savings model prevails, Russians generally have experience in lending to banks and treat loans with caution, and even try to make savings even at low incomes. open deposits, says Vasin. “On the other hand, the multiplier shows the priorities of banks in the allocation of funds: when in 2009 and 2014-2015, banks faced a sharp increase in overdue debts on consumer loans, the desire to increase retail portfolios significantly decreased, the leading banks in the unsecured lending market took a wait and see position.”
Maxim Vasin is sure that, on the whole, the calculated indicator should also be considered in the context of the relations of loans to GDP and loans to the monthly income of borrowers. According to these indicators, the growth of 2010-2013 led to the fact that the credit load grew very significantly, and this led to an increase in arrears, especially difficult against the background of a decrease in real incomes of the population and a decrease in employment.
In addition, according to the chief analyst of the NRA, it can be noted that the ratio of loans to borrowers' income varies from region to region. At the same time, in most regions the credit load is now quite high and amounts to 35-40% (payments on loans to monthly income).
“Ideally, the ratio of deposits and loans should aim at 1. If the economy returns to the growth path, this ratio will decline. Its growth demonstrates instability and negative trends in the level of economic growth, inflation, population incomes and employment, ”says Vasin. - It is impossible to interpret unequivocally which level of the ratio of deposits to loans is critical and which is optimal. But, judging by the dynamics of the indicator, it decreases in prosperous periods and grows in disadvantaged ones - therefore, a decrease is a blessing. An indicator below 1 will already be evaluated negatively, as it will demonstrate too aggressive banks' policy of increasing portfolios, which, as a rule, results in “bubbles” and major losses in the future. A figure above 3 will mean a very negative picture for consumer markets, construction, the automotive market, the tourism industry and so on - for those sectors where sales are stimulated, including through credit sources. ”
Our interlocutor adds that you need to understand: deposits are a source of funding loans, but they cannot be a source of repayment - from the fact that depositors get richer, borrowers do not get richer, depositors usually do not take loans, and borrowers do not make deposits.
“The source of loan repayment is the income of borrowers. Therefore, theoretically, the ratio of deposits and loans does not characterize the debt burden, and it alone does not provide an understanding of the severity of the debt burden of the population and the magnitude of banks' credit risks. I think that in the coming years the ratio will not fall below 2, but rather even grow closer to 3, since banks in the current conditions are not ready to accept the increased risks associated with retail, household incomes are falling, and at a fairly high pace, and all losses from the previous deterioration in the quality of retail portfolios has not yet been closed and absorbed - a number of banks still have a delay of more than 25-30%, and are fighting to reduce the rate and return to profitable operations. In general, retail lending booms are not expected in the coming years. At the same time, the annual increase in the volume of deposits will consist of changes in the value of the currency and interest income on deposits, which will continue to be mainly capitalized, rather than consumed. I expect the growth of deposits in ruble terms at around 20%, while lending will stagnate, ”concludes Maxim Vasin.
Sberbank draws the attention of users to the fact that the figures in this press release are calculated
- In July, the bank earned a net profit of $ 45.6 billion rubles.
- The loan portfolio of legal entities for the month grew by 249 billion rubles., The loan portfolio of individuals - by 15 billion rubles.
- The ratio of loans to deposits (LDR) for the month increased by 1.3 percentage points to 88.9%.
Deputy Chairman of the Management Board of Sberbank A.V. Morozov:
“In July, net profit exceeded 45 billion rubles. This result is based on the growth of the client business, which confirms the growth of the bank's share in the main markets: lending to individuals (+1.1 percentage points for the first half of the current year), lending to legal entities (+0.3 pp), raising funds individuals (+0.3 percentage points). ”
Comments for 7 months of 2016:
Net interest income the bank amounted to 640.4 billion rubles. - 57.3% more than the same period last year: interest income increased by 7.4% due to an increase in the volume of working assets; interest expenses decreased by 21.5% due to the replacement of state financing with customer funds and lower interest rates relative to 7 months last year.
Net fee and commission income increased by 23.5% to 171.4 billion rubles. The main growth continues to be provided by operations with bank cards, acquiring, cash management services and bank insurance.
Net income from currency revaluation and trading in financial markets in July amounted to 11.3 billion rubles. due to currency revaluation of balance sheet items due to the weakening of the ruble.
Operating expenses increased by 10.1%, which is significantly lower than the growth rate operating income before provisions (37.3%). Cost growth is affected by ongoing indexation of employee wages and depreciation. The ratio of expenses to income decreased over the year from 40.7% to 32.7%.
Expenses on total reserves amounted to 193.9 billion rubles. against 220.7 billion rubles. a year earlier. The Bank makes provisions for possible losses in order to cover existing credit risks, based on the requirements of the Bank of Russia. The ratio of reserves to overdue debt remains at 2.1 times.
Profit before income tax amounted to 349.7 billion rubles. against 127.8 billion rubles. a year earlier. Net profit amounted to 275.0 billion rubles, which is 3 times higher than the result of 7 months of last year.
Total financial result Including income from revaluation of securities for sale and held to maturity, amounted to 329.3 billion rubles.
Assets in July increased by 0.4%, largely due to the revaluation of the foreign currency component as a result of the weakening ruble.
In July, the bank provided to corporative clients loans in the amount of about 700 billion rubles, total since the beginning of the year - over 4.7 trillion rubles., 61% more than last year. The loan portfolio for the month increased by 249 billion rubles. or 2.1% and on August 1 exceeded 12.0 trillion rubles. The growth was due to both the issuance of new loans and the revaluation of previously issued foreign currency loans.
Private clients in July, more than 120 billion rubles were issued, total since the beginning of the year - more than 830 billion rubles, which is 31% more than in the 7 months of last year. Retail loan portfolio in July increased by 15.2 billion rubles. and as of August 1, exceeds 4.2 trillion rubles. In the portfolio structure, the share of housing loans continues to increase and currently stands at about 56%.
The share of overdue debt in the loan portfolio remained at 3.2%, which is significantly lower than the average level in the banking system, which was 6.9% as of July 1.
Volume investments in securities in July increased by 94 billion rubles. mainly due to the acquisition of OFZ, as well as foreign exchange and exchange rate revaluation of the portfolio. The balance of the portfolio on August 1 amounted to 2.45 trillion rubles.
Funds of individuals increased in July by 157 billion rubles. and exceeded 11.0 trillion rubles. Due to legal entities decreased by 114 billion rubles. mainly due to funds in foreign currency and amounted to 6.1 trillion rubles. Overall balance customer funds monthly increased slightly (by 0.3%) and on August 1 amounted to 17.1 trillion rubles.
According to the results of July, the share public finance in bank liabilities, excluding subordinated debt, it did not change and remained at a negligible level of 0.4%.
The values \u200b\u200bof the base and main capital Bank coincide due to the lack of sources of additional capital and according to current data as of August 1 amounted to 1 894 billion rubles.
The total capital as of August 1 is 2,812 billion rubles. Total capital in July grew by 36 billion rubles. The main factor in capital growth is earned net profit.
Risk-weighted assets rose in July by 262 billion rubles. mainly due to the growth of the loan portfolio.
- Н1.1 - 8.0% (the minimum value established by the Bank of Russia, 4.5%)
- Н1.2 - 8.0% (the minimum value established by the Bank of Russia, 6.0%)
- Н1.0 - 11.8% (the minimum value set by the Bank of Russia, 8.0%)
The ratio of the total volume of loans issued to the volume of accepted deposits (loan-deposit ratio, LDR) in the banking sector of Kazakhstan is kept at minimum values. The next minimum was reached in May, when the LDR of the sector amounted to 0.95, which means that for every 100 tenge placed on the deposit banks issue loans in the amount of 95 tenge. The remaining 5 tenge banks use either as a reserve source of liquidity or transfer to less risky than loans, assets - metals, government securities, deposits with the National Bank.
At the same time, even taking into account the growth in the volume of borrowed funds from the population and enterprises, banks are trying to restrain the growth of lending to customers: for example, the total volume of deposits compared to May 2015 increased almost one and a half times (+ 48.5%), while lending grew by only 8.4%.
The largest commercial banks in the country have identified the prevailing trend. Of the TOP-5 banks (the aggregate LDR of which amounted to 1.02 in May 2016), Kazkommertsbank showed the highest LDR, while Halyk Bank, Bank CenterCredit and Sberbank give less loans than attract depositors. Tsesnabank balances on the verge of equilibrium of attracted and placed funds (LDR \u003d 1.01).
It is worth noting that even the most risk-prone players have reduced the ratio of loans to deposits. If a year ago, the maximum value of LDR exceeded 10, but now it does not even reach 5.