List of banks in Kazakhstan

Last updated

The Republic of Kazakhstan has a two-tier banking system. [1]

Contents

Tier One Bank

The National Bank of the Republic of Kazakhstan is the central bank of Kazakhstan and presents the upper (first) tier of the banking system of Kazakhstan. The National Bank represents, within the limits of its authority, the interests of the Republic of Kazakhstan in the relationship with the central banks, with banks of other countries, in the international banks and other financial-credit organizations. [2]

Second-tier banks

All banks operating in the country, except the National Bank of Kazakhstan, represent the second tier of the banking system and are second-tier banks. The legal basis for operation of the second-tier banks is the law «On Banks and Banking in the Republic of Kazakhstan» from August 31, 1995, No. 2443. According to this law, a second-tier bank in Kazakhstan is a corporate entity which, irrespective of the form of ownership, carries on business for achieving its main goal of earning profits. Second-tier banks are entitled to open their subsidiary banks, branch and representative offices on the territory of Kazakhstan as well as outside of the territory of the country. [3] Banks on April 13, 2022 there are 22 (10 of them are with foreign capital, the share of which is only 17.1%). [4]

Data for January 1, 2024
No.Bank's nameControlling stakeholderBank assets as of January 1, 2024 (billion tenge)
1 Halyk Savings Bank of Kazakhstan Flag of Kazakhstan.svg Holding Group ALMEX JSC14943
2 Kaspi Bank Flag of Kazakhstan.svg Kaspi Group JSC6689
3 Bank CenterCredit Flag of Kazakhstan.svg Bakhytbek Rymbekovich Baiseitov 5261
4 Otbasy bank Flag of Kazakhstan.svg National Managing Holding «Baiterek» JSC3996
5 ForteBank Flag of Kazakhstan.svg Bulat Zhamitovich Utemuratov 3444
6 Jusan Bank Flag of Kazakhstan.svg First Heartland Securities JSC2869
7 Eurasian Bank Flag of Kazakhstan.svg Eurasian Financial Company JSC2759
8 Freedom Bank Kazakhstan Flag of Kazakhstan.svg Freedom Finance JSC2211
9 Bereke Bank Flag of Kazakhstan.svg National Managing Holding «Baiterek» JSC2076
10 Bank RBK Flag of Kazakhstan.svg KCC Financ LLP2044
11 Citibank Kazakhstan Flag of the United States.svg Citibank, N.A. 1087
12 Altyn Bank Flag of the People's Republic of China.svg China CITIC Bank Corporation 889
13 Home Credit Bank Kazakhstan Flag of Russia.svg Home Credit and Finance Bank LLC 803
14 Shinhan Bank Kazakhstan Flag of South Korea.svg Shinhan Bank 475
15 Nurbank Flag of Kazakhstan.svg JP Finance Group LLP466
16 Bank of China in Kazakhstan Flag of the People's Republic of China.svg Bank of China Limited 417
17 Industrial & Commercial Bank of China (Almaty) Flag of the People's Republic of China.svg Industrial and Commercial Bank of China 349
18 KZI Bank Flag of Turkey.svg T.C. Ziraat Bankası A.Ş. 233
19 VTB Bank Kazakhstan Flag of Russia.svg PJSC VTB Bank 226
20 Al Hilal Islamic Bank Flag of the United Arab Emirates.svg Al Hilal Bank PJSC 178
21 Zaman-Bank Flag of Kazakhstan.svg Tasbulat Abguzhinov25

Development Bank of Kazakhstan

Development Bank of Kazakhstan JSC operates as a national development institution in the Republic of Kazakhstan. The company’s services include investment projects funding, export operations financing, interbank lending, clients operational servicing, and lease financing. It also offers various financial services, such as mezzanine, syndicated, interim, lease transactions, and project financing; lending of current activities; and provision of guarantees, as well as equity and capital participation. [5]

Deposit Guarantee System

Kazakhstan Deposit Insurance Fund (the KDIF) was established by Resolution of the National Bank of the Republic of Kazakhstan Management Board No. 393 dated 15 November 1999 “On incorporation of «Kazakhstan Individuals’ Deposit Guarantee (Insurance) Fund».

Individuals’ deposits placed in the second-tier banks of the Republic of Kazakhstan, excluding non-interest bearing demand deposits placed with the Islamic banks.

At present the Parliament of the Republic of Kazakhstan has approved the draft law which stipulates deposit coverage payouts on the individuals’ and individual entrepreneurs’ savings deposits up to the deposit coverage limit of 15 million tenge. [6]

Population deposits

In August 2018 the number of deposits of individuals has reached the historic peak - 8.3 trillion tenges, 47% of the total volume of deposits. [7]

References