IN 2022, IT WAS FOUND THAT FINANCING MECHANISMS WITHIN THE FRAMEWORK OF PREFERENTIAL CAR LOANS LIMITED COMPETITION

As part of the analysis, the agency for the protection and development of competition revealed a high concentration of the market for car lending services for the period of 2020, 2021 and 9 months of 2022, in which 16 credit organizations operate. At the same time, 70% of the market share belongs to Eurasian Bank JSC, Bank Center credit JSC and Kaspi Bank JSC.

                     In 2022, due to participation in the preferential car loan program, there will be an increase in the volume of car loans in Eurasian Bank JSC and Bank Center credit JSC (the limit of the HTSM is 7.5%).

                      The largest volume of car loans issued outside the preferential program belongs to Kaspi Bank JSC, which deals with car loans in the secondary market, including through the Kolesa digital platform.

                      At the same time, in the commercial segment, the volume of high interest rates - 33% (the limit of the RTSM – 40%), attempts to impose credit and insurance organizations are observed.

                       The study of the financing mechanism within the framework of preferential car loans in 2022 showed limited competition both among car manufacturers and among second-tier banks participating in the program.

                      Thus, on the basis of Government Decree No. 604 of September 2, 2021, it is planned to increase the amount of financing (100 billion rubles). tenge) allocated among themselves by automakers (protocol of the commission of representatives of industrial enterprises dated May 13, 2022).

                     Then, in order to administer such a distribution, the fund for the development of industrial development divided the specified volume into 4 second-tier banks, setting financing limits (limits on the amount of loans) for each manufacturer.

                    In general, it should be noted that the financing of preferential car loans was carried out without preliminary provision of the required number of domestic assembled cars to meet the needs of the population, which, in turn, provoked an increase in prices for cars.

                    Therefore, the agency sent a letter of recommendation regarding the revision of the mechanism of preferential lending, taking into account the abolition of financing limits for second-tier banks.

More details in the agency's annual report for 2022 https://www.gov.kz/memleket/entities/zk/documents/details/486951?lang=kk