At a government meeting, the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan presented an update on conditions in the credit market and measures aimed at expanding business lending, reporting strong growth in lending alongside stable portfolio quality. Total credit to the economy increased by 20.9% in 2024 to KZT 33.8 trillion, while lending to businesses rose by 16.3% to KZT 13.1 trillion. Within business lending, credit to large firms grew by 9.2% to KZT 4.3 trillion, lending to small and medium-sized enterprises increased by 13.1% to KZT 6.5 trillion, and lending to individual entrepreneurs rose by 46.6% to KZT 2.3 trillion; new loans to corporate entrepreneurship increased by 17.2% to KZT 18.2 trillion. Loans more than 90 days past due represented 2.1% of the business loan portfolio, and the number of corporate business borrowers rose by 20.3% to 534,000. Banks accounted for 82% of lending across economic sectors, with bank shares above 99% in construction and trade, above 82% in transport and communications, 70% in industry, and 50% in agriculture.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-03-04
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan briefs government on 2024 lending growth with business loan arrears at 2.1%
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported a 20.9% increase in total credit to KZT 33.8 trillion in 2024, with business lending up 16.3% to KZT 13.1 trillion. Lending to small and medium-sized enterprises rose by 13.1%, while loans to individual entrepreneurs surged by 46.6%. Banks dominated lending, holding 82% of total lending, with significant shares in construction, trade, transport, and communications.