Kazakh President Reviews 2025 Financial Market Performance, Sets 2026 Priorities
President Kassym-Jomart Tokayev met on Jan. 15 with Madina Abylkasymova, Chairperson of the Agency for Regulation and Development of the Financial Market, to review the sector’s 2025 results and outline priorities for 2026, including financial stability, increased business lending, and consumer protection.
Abylkasymova reported that Kazakhstan’s banking sector remained stable, with total assets rising 11% to 68.3 trillion tenge (US$133.4 billion) and capital adequacy at 20.7%. Business lending expanded by 17.9% to 14.8 trillion tenge (US$28.9 billion), supported by 17.5 trillion tenge (US$34.2 billion) in new loans and 505 billion tenge (US$986.4 million) in guarantees to SMEs through the SME Loan Guarantee Fund.
Consumer lending moderated, declining by half compared to 2024, following stricter high-risk loan regulations and debt-to-income limits. Banks and microfinance organizations provided relief to 703,000 borrowers, including 209.7 billion tenge (US$410 million) under the personal bankruptcy mechanism, while the Mortgage Loan Refinancing Program assisted 1,200 borrowers.
In 2025, the agency conducted extensive inspections across banking, insurance, securities, and microfinance sectors, imposing fines totaling 641.3 million tenge (US$1.3 million) and revoking or suspending licenses to combat financial misconduct.
Photo credit: Akorda
