List of banks in Kazakhstan

  (Redirected from Banks of Kazakhstan)

The Republic of Kazakhstan has a two-tier banking system.[1]

Tier One BankEdit

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 banksEdit

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 October 1, 2021
Bank's name Controlling stakeholder Bank assets as of October 1, 2021 (billion tenge)
1 Halyk Savings Bank of Kazakhstan   Holding Group ALMEX JSC 11284,4
2 First Heartland Jýsan Bank   First Heartland Securities JSC 3025,8
3 Subsidiary bank «Sberbank of Russia» in Kazakhstan   Sberbank of Russia 4007,2
4 Kaspi Bank   Kaspi Group JSC 3365,8
5 Bank CenterCredit   Bakhytbek Rymbekovich Baiseitov 1990,0
6 ForteBank   Bulat Zhamitovich Utemuratov 2425,7
7 Eurasian Bank   Eurasian Financial Company JSC 1401,4
8 Otbasy bank   National Managing Holding «Baiterek» JSC 2386,7
9 Citibank Kazakhstan   Citibank, N.A. 1107,1
10 Bank RBK   KCC Financ LLP 1257,1
11 Altyn Bank   China CITIC Bank Corporation 682,3
12 Nurbank   JP Finance Group LLP 447,7
13 Subsidiary bank «Eco Center Bank»   Bank CenterCredit 886,4
14 Subsidiary bank «Home Credit and Finance Bank» in Kazakhstan   Home Credit and Finance Bank LLC 475,3
15 Subsidiary bank «Bank of China» in Kazakhstan   Bank of China Limited 405,5
16 Industrial & Commercial Bank of China (Almaty)   Industrial and Commercial Bank of China 263
17 Subsidiary bank «VTB Bank» in Kazakhstan   PJSC VTB Bank 455,9
18 Bank Freedom Finance Kazakhstan   Freedom Finance JSC 224,7
19 Subsidiary bank «Ziraat InternationaL Bank» in Kazakhstan   T.C. Ziraat Bankası A.Ş. 132,6
20 Shinhan Bank Kazakhstan   Shinhan Bank 79,3
21 «Al Hilal» Islamic Bank   Al Hilal Bank PJSC 58,6
22 Zaman-Bank   Tasbulat Abguzhinov 23,5

Development Bank of KazakhstanEdit

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 SystemEdit

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 depositsEdit

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]

ReferencesEdit

External linksEdit

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