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List of banks in Kazakhstan

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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 October 1, 2018 there are 28 (13 of them are with foreign capital, the share of which is only 17.1%).[4][5]

Data for October 1, 2019
№ Bank's name Controlling stakeholder Bank assets as of October 1, 2018 (billion tenge) Bank assets as of October 1, 2019 (billion tenge)
1 Halyk Savings Bank of Kazakhstan   Holding Group ALMEX JSC 8273,9 8992,4
2 First Heartland Jýsan Bank   First Heartland Securities JSC 2212,7 1270,8
3 Subsidiary bank «Sberbank of Russia» in Kazakhstan   Sberbank of Russia 1697,7 2072,5
4 Kaspi Bank   Kaspi Group JSC 1471,2 2026,8
5 ATFBank   KNG Finance LLP 1461,7 1515,3
6 Bank CenterCredit   Bakhytbek Rymbekovich Baiseitov 1410,7 1474,0
7 ForteBank   Bulat Zhamitovich Utemuratov 1409 1942,9
8 Eurasian Bank   Eurasian Financial Company JSC 973,6 1014,6
9 Housing Construction Savings Bank of Kazakhstan   National Managing Holding «Baiterek» JSC 850,6 1251,6
10 Citibank Kazakhstan   Citibank, N.A. 733,7 823,3
11 Bank RBK   KCC Financ LLP 547,1 667,6
12 Altyn Bank   China CITIC Bank Corporation 399,1 523,9
13 Nurbank   JP Finance Group LLP 342,4 388,9
14 Subsidiary bank «Alfa-Bank» in Kazakhstan   Alfa-Bank 341,9 528,6
15 Subsidiary bank «Home Credit and Finance Bank» in Kazakhstan   Home Credit and Finance Bank LLC 270 401,7
16 Subsidiary bank «Bank of China» in Kazakhstan   Bank of China Limited 256,7 299,2
17 Industrial & Commercial Bank of China (Almaty)   Industrial and Commercial Bank of China 147,6 209,7
18 AsiaCredit Bank   Nurbol Sultan 144,2 87,0
19 Subsidiary bank «VTB Bank» in Kazakhstan   PJSC VTB Bank 136,9 179,1
20 Tengri Bank   Punjab National Bank 132,8 110,4
21 Bank Kassa Nova   JSC Nova Leasing 87,5 137,0
22 Capital Bank Kazakhstan   Orifjon Chodiev 75.2 75,4
23 Subsidiary bank «ZIraat InternationaL Bank» in Kazakhstan   T.C. Ziraat Bankası A.Ş. 60,6 79,3
24 Shinhan Bank Kazakhstan   Shinhan Bank 30 45,8
25 «Al Hilal» Islamic Bank   Al Hilal Bank PJSC 24.7 37,0
26 Zaman-Bank   Tasbulat Abguzhinov 15,3 22,3
27 Subsidiary bank «National Bank of Pakistan» in Kazakhstan   National Bank of Pakistan 5 4,8

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.[6]

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.[7]

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.[8]

References

  1. ^ The law of August 31,1995 № 2444 About banks and banking activities in the Republic of Kazakhstan
  2. ^ About the National Bank of the Republic of Kazakhstan
  3. ^ Second tier banks
  4. ^ Ranking of banks of Kazakhstan with foreign participation
  5. ^ The rating of banks of Kazakhstan
  6. ^ Company Overview of Development Bank of Kazakhstan JSC
  7. ^ The Joint Stock Company «Kazakhstan Deposit Insurance Fund»
  8. ^ The volume of deposits of individuals reached a historic high of 8.38 trillion tenge
  • "Second-tier banks". National Bank of Kazakhstan.
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