Kazakhstan's Agency for Regulation and Development of the Financial Market has issued JSC KMF Bank with a licence to conduct banking operations, making it the country’s 23rd second-tier bank following the transformation of the KMF microfinance organisation. The licence authorises the bank to take deposits from legal entities, open and maintain bank accounts, perform cash and transfer operations, provide credit, conduct foreign exchange transactions, and issue bank guarantees including via its new mobile application; services for individuals will be possible after it joins the mandatory deposit guarantee system. As of 1 August 2025, KMF reported assets of KZT 395bn and a loan portfolio of KZT 315bn, with over 90% of funds directed to financing small and medium-sized enterprises, including more than 100,000 borrowers in the agricultural sector. It reported more than 275,000 clients (over 70% in the regions), past-due debt over 90 days below 6%, and capital adequacy above 22%, and operated a network of 17 branches and 123 structural units with more than 2,500 staff. KMF Bank was the second newly licensed bank in 2025, after a licence granted to JSC BNK Commercial Bank on 25 June; Kazakhstan has 23 second-tier banks, including 11 with participation by foreign financial groups.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-08-12
Kazakhstan's Agency for Regulation and Development of the Financial Market grants KMF Bank a banking operations licence
Kazakhstan's Agency for Regulation and Development of the Financial Market has licensed JSC KMF Bank as the 23rd second-tier bank, transitioning from a microfinance organization. The licence permits deposit-taking, credit provision, and foreign exchange transactions, with individual services pending inclusion in the mandatory deposit guarantee system. As of 1 August 2025, KMF reported assets of KZT 395bn, a loan portfolio of KZT 315bn, and a capital adequacy above 22%, mainly serving small and medium-sized enterprises.