The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published a snapshot of the banking sector as of 1 January 2025, showing 21 second-tier banks (12 with foreign participation, including nine subsidiaries) and a 19.7% rise in sector assets in 2024 to KZT 61.6trn, mainly driven by 20.0% growth in the loan portfolio. High-liquid assets totalled KZT 18.2trn (29.6% of assets), while loans to the economy increased by 20.9% to KZT 33.8trn. In 2024, banks issued KZT 36.2trn of new loans (up 19.5% year on year), including KZT 18.2trn to businesses (up 17.2%). Business lending rose 16.3% to KZT 13.1trn, led by a 46.6% increase in lending to individual entrepreneurs to KZT 2.3trn; lending to small and medium-sized enterprises reached KZT 6.5trn (up 13.1%) and to large business KZT 4.4trn (up 9.2%). Household lending grew 23.9% to KZT 20.7trn, including mortgages up 14.5% to KZT 6.1trn and consumer loans up 33.5% to KZT 13.8trn; in December 2024, average weighted interest rates were 19.7% on tenge business loans and 17.0% on household loans. Asset quality metrics showed NPL90+ at 3.1% of the loan book (KZT 1,094bn), with NPL90+ at 2.1% for business loans (KZT 304bn) and 3.8% for household loans (KZT 790bn), and a 67.0% provisioning coverage of non-performing loans. On funding and capital, sector liabilities rose 18.1% to KZT 52.7trn, with client deposits at KZT 42.5trn (80.7% of liabilities) and resident deposits up 19.1% to KZT 41.3trn; deposit dollarisation fell to 22.5%. Equity increased 29.6% to KZT 8.9trn, capital adequacy ratios were 20.4% (k1) and 22.0% (k2), and net profit totalled KZT 2.6trn (up 17.1%), with ROA at 4.6% and ROE at 32.5%.

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