The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published a supervisory snapshot of the country’s second-tier banks as of 1 December 2025, showing moderate month-on-month balance sheet growth, continued expansion in lending to the economy, and stable headline asset quality. Sector assets increased 0.8% in November to KZT 68.3 trillion, with high-liquid assets at KZT 19.8 trillion (29.0% of assets), while NPL90+ remained at 3.7% of the loan portfolio (KZT 1.6 trillion). The sector comprised 23 second-tier banks, including 15 banks with foreign participation (10 subsidiaries). The loan portfolio rose 0.8% in November to KZT 42.4 trillion and loans to the economy increased 0.7% to KZT 39.4 trillion, driven by tenge lending (+1.2% to KZT 36.0 trillion) while foreign-currency loans fell 4.5% to KZT 3.4 trillion; the tenge share of loans was 91.3%. Lending to business entities fell 0.2% to KZT 14.8 trillion (large business down 2.2% to KZT 5.3 trillion, SMEs up 0.8% to KZT 6.5 trillion, individual entrepreneurs up 1.5% to KZT 3.1 trillion), with the decline linked to the National Bank’s October 2025 base rate increase from 16.5% to 18%; the average tenge rate on business loans rose to 22.3% (20.1% for large business and SMEs, 30.4% for individual entrepreneurs). Household lending increased 1.2% to KZT 24.6 trillion, including consumer loans up 1.4% to KZT 16.6 trillion and mortgages up 1.1% to KZT 6.8 trillion; the average tenge rate on new household loans fell to 18.2% (9.6% mortgages, 19.1% consumer). On funding, liabilities rose 0.1% to KZT 57.9 trillion, supported by repo operations (+17.2%), while resident deposits declined 0.5% to KZT 44.5 trillion amid a fall in foreign-currency deposits and a decline in deposit dollarization to 21.0% (as of 1 November 2025). Banks’ equity capital increased 4.6% to KZT 10.4 trillion, with capital ratios at 19.5% (K1) and 20.7% (K2), and January–November 2025 net profit at KZT 2.5 trillion; ROA was 4.2% and ROE 28.8%.
2026-01-12Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reports banking sector assets at KZT 68.3 trillion with NPL90+ steady at 3.7%
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reported moderate growth in second-tier banks' balance sheets as of December 2025, with sector assets rising 0.8% to KZT 68.3 trillion and stable asset quality. Lending to the economy increased 0.7% to KZT 39.4 trillion, driven by tenge lending, while foreign-currency loans decreased; household lending rose 1.2%, and banks' equity capital grew 4.6% to KZT 10.4 trillion.