Kazakhstani banks report a 20% increase in assets over the year

Assets of commercial banks in Kazakhstan have significantly changed over the past 12 months / Shutterstock, photo editor: Deliya Aydaralieva

According to data from the National Bank, the aggregated assets of the banking sector have risen by 20.4%, reaching $113 billion over the past 12 months.

Halyk Bank has remained the leader of the sector in terms of assets, with $33.1 billion (a 21.7% increase year-on-year), followed by Kaspi Bank ($14.8 billion, +24.7% YoY) and Bank CenterCredit ($12.5 billion, +33.4% YoY).

Overall, the sector reported a 15% increase (+$14.8 billion) in assets compared to the beginning of the year, with Halyk Bank (+$4.6 billion), BCC (+$2.5 billion) and Kaspi Bank (+$2 billion) leading the growth.

The only bank in Kazakhstan to report a decline in assets over the year was VTB Kazakhstan. The subsidiary of the second-largest bank in Russia, which has not changed ownership despite being hit with U.S. and EU sanctions, reported a 2.3% decline in assets (-$9.9 million). The overall loan portfolio of Kazakhstani banks has risen by 22.2%, reaching $66.7 billion, while net profit grew by 16.3%, reaching $4.3 billion as of Dec. 1, compared to the same period last year.