The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan completed a new cycle of risk-based supervision of the banking sector and, for the first time, published a report on the results of its Supervisory Review and Evaluation Process (SREP). The 2024 supervisory cycle combined SREP with ongoing Asset Quality Review (AQR) work and supervisory stress testing. The updated SREP methodology was applied with a focus on assessing and improving corporate governance quality and banks’ risk identification, assessment and management processes. In 2024, the SREP covered 21 banks and evaluated risk profiles across four areas: business model assessment, capital risks, liquidity, and the corporate governance system. The published report sets out both the key findings and a detailed description of the process and methodology, and is intended to increase supervisory transparency and strengthen engagement with the professional community.

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