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%.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2026-01-12
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.