About condition of the banking sector of Kazakhstan as of 1 June 2025
As of 1 June 2025, the banking sector of the Republic of Kazakhstan is represented by 21 second-tier banks, where 13 banks have foreign participation, including 9 subsidiary banks.
Assets of the banking sector as of 1 June 2025 totaled 63.4 trillion KZT, which is up by 1.2% for May 2025 (a 2.9% growth since the beginning of 2025), mainly due to the growth of the loan portfolio of banks by 1.7% to 37.9 trillion KZT.
Loans to the economy issued by second-tier banks expanded by 1.3% in May 2025 to 35.5 trillion KZT (a 5.1% growth since the beginning of 2025,). As a result of loans to the economy, by the end of May 2025, loans in the national currency grew by 1.4% to 32.8 trillion KZT, in foreign currency inched up by 0.3% to 2.7 trillion KZT.
Loans to business entities for May 2025 rose by 0.6% to 13.4 trillion KZT (a 2.4% growth since the beginning of 2025) mainly due to growing loans issued to buy working capital by 0.5% to 5.1 trillion KZT. In the structure of business loans, loans to large businesses shrank by 0.9% to 5.0 trillion KZT (a 14.7% increase since the beginning of 2025), as a result of an early growth of loans by entities from the trade sector, to SMEs – widened by 0.7% to 5.8 trillion KZT (a 9.7% decrease since the beginning of 2025). Loans to individual entrepreneurs rose by 3.0% to 2.6 trillion KZT (a 13.0% increase since the beginning of 2025).
In terms of sectors, in May 2025, an increase in business lending is reported in almost all sectors, with the exception of industry and transport. In trade, loans edged up by 0.5% to 3.6 trillion KZT, information and communications – by 2.5% to 0.2 trillion KZT, construction – by 4.5% to 0.7 trillion KZT, agriculture by 3.6% to 0.5 trillion KZT.
In May 2025, new loans were issued to business entities in the amount of 1.5 trillion KZT, which is 7.8% more than in the same month of 2024. Since the beginning of 2025, volume of new loans issued to businesses made 7.1 trillion KZT, which is 5.3% year-on-year.
At the end of May 2025, average weighted interest rate on loans issued to business entities in the national currency remained at 21.3%.
Household loans made 22.1 trillion KZT, up by 1.8% in May 2025 (a 6.9% growth since the beginning of 2025) as a result of an increase in consumer loans by 1.9% to 14.9 trillion KZT and mortgage loans by 1.7% to 6.3 trillion KZT.
In May 2025, average weighted interest rate on household loans issued in KZT was 19.9%.
Quality of banks' loan portfolio remains high. Thus, as of 1 June 2025, share of loans overdue for over 90 days in the total loan portfolio remained at the level of April 2025, making 3.4% or 1.3 trillion KZT.
Share of NPL90+ loans as household loans as of 1 June 2025 increased by 4.3% or 943 billion KZT, for business loans – by 2.2% or 340 billion KZT. Level of provision coverage of loans overdue for over 90 days was 66.8% (67.0% as of 01.01.2025 ).
Liabilities of the banking sector increased by 1.3% to 54.3 trillion KZT in May 2025 (up 3.1% since the beginning of 2025), mainly due to an increase in customer deposits by 0.8% and repo transactions by 24%. Customer deposits dominate the structure of liabilities of the baking sector – 80% or 43.4 trillion KZT.
Deposits of residents with depository organizations grew by 0.3% to 41.4 trillion KZT in May 2025 (up 0.4% since the beginning of 2025), mainly to a 0.8% growth of deposits in foreign currency up to 9.5 trillion KZT. Deposits in the national currency inched up by 0.2% to 32.0 trillion KZT. As a result, deposit dollarization level as of 1 June 2025 was 22.9%, a slight increase from 22.8% a month earlier.
Corporate deposits in May 2025 edged up by 0.2% to 18.5 trillion KZT, retail deposits inched up by 0.4% to 22.9 trillion KZT.
Average weighted interest rate on term deposits of non-bank legal entities in the national currency in May 2025 was 15.4% (15.4% in 2025), on retail deposits – 14.3% (14.0% in 2025).
Equity capital of banks in May 2025 widened by 0.5% to 9.1 trillion KZT (a 2.1% growth since the beginning of 2025), mainly due to an increase in retained earnings. As of 1 June 2025, core capital adequacy ratio (k1) was 19.3% (20.4% as of 1 January 2025), equity capital adequacy ratio (k2) was 20.8% (22.0% as of 1 January 2025), which significantly goes beyond the established standards and ensures coverage of potential risk in the banking sector today.
For January-May 2025, net profit of banks totaled 1.1 trillion KZT, which is 17.2% more for a same period of 2024. Return on banking assets (ROA) as of 1 June 2025 stood at 4.6% (4.6% as of 1 May 2025), return on equity (ROA) – 31.6% (31.6% as of 01.05.2025).
External Communications Directorate