List of banks in Kazakhstan

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 Securities JSC	2212,7	1270,8
3	Subsidiary bank «Sberbank of Russia» in Kazakhstan	Sberbank of Russia	1697,7	2072,5
4		Kaspi Group JSC	1471,2	2026,8
5		KNG Finance LLP	1461,7	1515,3
6			1410,7	1474,0
7		Bulat Zhamitovich Utemuratov	1409	1942,9
8	Eurasian Bank	Eurasian Financial Company JSC	973,6	1014,6
9		National Managing Holding «Baiterek» JSC	850,6	1251,6
10		Citibank, N.A.	733,7	823,3
11		KCC Financ LLP	547,1	667,6
12		China CITIC Bank Corporation	399,1	523,9
13		JP Finance Group LLP	342,4	388,9
14		Alfa-Bank	341,9	528,6
15		Home Credit and Finance Bank LLC	270	401,7
16		Bank of China Limited	256,7	299,2
17		Industrial and Commercial Bank of China	147,6	209,7
18		Nurbol Sultan	144,2	87,0
19		PJSC VTB Bank	136,9	179,1
20		Punjab National Bank	132,8	110,4
21		JSC Nova Leasing	87,5	137,0
22		Orifjon Chodiev	75.2	75,4
23		T.C. Ziraat Bankası A.Ş.	60,6	79,3
24		Shinhan Bank	30	45,8
25		Al Hilal Bank PJSC	24.7	37,0
26	Zaman-Bank	Tasbulat Abguzhinov	15,3	22,3
27		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[]

External links[]

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