The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published banking sector indicators as of 1 February 2025, showing a contraction in balance sheets and lending during January. Sector assets fell 1.5% to KZT 60.6trn, while loans to the economy decreased 0.8% to KZT 33.5trn; resident deposits at deposit-taking institutions declined 2.1% to KZT 40.4trn. Kazakhstan had 21 second-tier banks (12 with foreign participation, including nine subsidiaries), with high-liquid assets of KZT 19.2trn (31.7% of assets). Total new lending in January was KZT 2.3trn (down 1.4% year on year), with business lending outstanding down 3.0% to KZT 12.7trn, driven by a 7.9% fall in loans to small and medium-sized enterprises to KZT 5.9trn; loans to large businesses increased 2.3% to KZT 4.4trn and to individual entrepreneurs rose 0.7% to KZT 2.3trn. Household loans grew 0.6% to KZT 20.8trn as consumer lending increased 0.8% to KZT 13.9trn and mortgage lending remained at KZT 6.1trn. Foreign-currency loans fell 6.0% to KZT 2.8trn (in the context of a 1.3% tenge appreciation against the US dollar), lifting the share of tenge-denominated loans to 91.7%. Asset quality metrics were broadly stable, with NPL 90+ at 3.2% of the loan portfolio (KZT 1,143bn) and provision coverage of non-performing loans at 66.9%. Equity rose 2.0% to KZT 9.1trn, with capital adequacy ratios reported at k1 20.7% and k2 22.4%, and January net profit was KZT 228bn (up 15.5% year on year).

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