Kazakhstan’s Banking Sector Strengthens Profitability
Kazakhstan’s banking sector maintained strong momentum in 2025, with total net profit reaching 2.1 trillion tenge (US$3.9 billion) in January–September, up 10.6% year-on-year, according to the Agency for Regulation and Development of the Financial Market.
The country’s 23 second-tier banks held total assets of 67 trillion tenge (US$124 billion), reflecting an 8.9% increase since the beginning of the year. The loan portfolio expanded to 41.6 trillion tenge (US$77 billion), driving overall sector growth. High-liquidity assets make up 28.4% of the total, ensuring stable operations.
Lending to the real sector rose to 38.7 trillion tenge (US$71.7 billion), up 14.6% since January. Business loans grew 2.5% in September to 14.7 trillion tenge (US$27.2 billion), with strong demand from industry, trade, construction, agriculture, and ICT. Average lending rates stood at 21.6%, varying by borrower type.
The share of non-performing loans (NPLs) over 90 days remained at 3.5%, while NPLs among businesses accounted for 2.3% and household loans for 4.5%. The coverage ratio for NPLs stood at 63.6%, reflecting prudent risk management.
Deposits totaled 43.4 trillion tenge (US$80 billion), up 1.5% for the month. Deposits in tenge grew 3.6% to 34.5 trillion, while foreign currency deposits fell 5.6%, reducing dollarization to 20.6%.
The sector’s return on assets (ROA) reached 4.4%, and return on equity (ROE) stood at a robust 29.9%, underscoring the system’s efficiency, stability, and appeal to investors.
