List of banks in Kazakhstan

Source: Wikipedia, the free encyclopedia.

The Republic of Kazakhstan has a

two-tier banking system.[1]

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, № 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, 2023
Bank's name Controlling stakeholder Bank assets as of January 1, 2023 (billion tenge)
1 Halyk Savings Bank of Kazakhstan Kazakhstan Holding Group ALMEX JSC 13863
2 Kaspi Bank Kazakhstan Kaspi Group JSC 5087
3 Bank CenterCredit Kazakhstan Bakhytbek Rymbekovich Baiseitov 4347
4 Otbasy bank Kazakhstan National Managing Holding «Baiterek» JSC 3440
5 ForteBank Kazakhstan Bulat Zhamitovich Utemuratov 2914
6 Jusan Bank Kazakhstan First Heartland Securities JSC 2844
7 Eurasian Bank Kazakhstan Eurasian Financial Company JSC 2360
8 Bank RBK Kazakhstan KCC Financ LLP 1984
9 Bereke Bank Kazakhstan National Managing Holding «Baiterek» JSC 1695
10 Citibank Kazakhstan United States Citibank, N.A. 1335
11 Bank Freedom Finance Kazakhstan Kazakhstan Freedom Finance JSC 1264
12 Altyn Bank China China CITIC Bank Corporation 981
13
Home Credit Bank
Kazakhstan
Russia Home Credit and Finance Bank LLC 552
14 Bank of China in Kazakhstan China Bank of China Limited 551
15 Nurbank Kazakhstan JP Finance Group LLP 469
16 Industrial & Commercial Bank of China (Almaty) China Industrial and Commercial Bank of China 290
17 VTB Bank Kazakhstan Russia PJSC VTB Bank 193
18 KZI Bank
T.C. Ziraat Bankası A.Ş.
171
19 Shinhan Bank Kazakhstan South Korea Shinhan Bank 126
20 Al Hilal Islamic Bank United Arab Emirates Al Hilal Bank PJSC 60
21 Zaman-Bank Kazakhstan Tasbulat Abguzhinov 36

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.

  • Deposits in tenge are insured up to 10 million tenge per depositor per bank
  • Deposits in foreign currency are insured up to 5 million tenge per depositor per bank (in equivalent, foreign exchange rate applied as of the date of effect of the court ruling regarding forced liquidation of a deposit insurance system member bank)

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

External links

  • "Second-tier banks". National Bank of Kazakhstan.