BNK Commercial Bank office opened in Almaty
An official opening ceremony of BNK Commercial Bank, the first foreign bank created through transformation of a microfinance organization into a bank, took place in Almaty. This event was a result of extensive and targeted efforts by the BNK team, consultants and employees of the Agency for Regulation and Development of the Financial Market.
Opening of a foreign bank corresponds to performance of an order of the Head of State K.K. Tokayev to attract reliable foreign banks to the country and improve competition in the banking sector, announced in September 2023 during the annual Address to the People of Kazakhstan.
The opening ceremony was attended by chiefs of the international financial group BNK Financial Group, as well as such institutions as BNK Busan Bank, BNK Kyongnam Bank, BNK Capital. Aggregate assets of this group make USD 114 billion, and equity capital is about USD 8 billion.
"For us, this event has vital historical significance, as it is the first foreign bank that was created in Kazakhstan through transformation of a microfinance organization into a bank. Secondly, it is the first banking license for the past 15 years that has been issued in Kazakhstan since 2010. And it is also the first foreign bank that, as part of implementation of the order of the Head of State, received a banking license to operate in Kazakhstan," noted Madina Abylkassymova, Chairperson of the Agency, during her speech.
The bank declared lending to small and medium-sized enterprises in Kazakhstan as its main strategic objective. Lending to small and medium-sized enterprises is a focus of Kazakhstan's economic policy, a priority in development of the financial sector of Kazakhstan. In the first half of this year, the SME loan portfolio reached USD 26.7 billion, an 8% increase. Opening of the bank is also an important step in enhancement of the trade and economic cooperation between Kazakhstan and the Republic of Korea.
We would remind that on 25 June 2025, the Agency for Regulation and Development of the Financial Market issued BNK Commercial Bank a license for banking operations.
External Communications Directorate