Abu Dhabi Commercial Bank (ADCB), a full-service commercial bank from the United Arab Emirates (UAE), has received permission from Kazakhstan’s Agency for Regulation and Development of the Financial Market (ARDFM) to establish a subsidiary bank in the country.
ADCB is one of the largest banks in the UAE and holds an A+/F1 rating with a stable outlook from Fitch Ratings. It is controlled by Mubadala Investment Company, which is owned by the government of Abu Dhabi. As of the end of 2025, the bank’s assets exceeded $210 billion, with $24 billion in equity and $3 billion in net profit.
ADCB plans to be the sole shareholder of its Kazakhstani subsidiary and will provide authorized capital, strategic management and operational support. The new bank is expected to offer a full range of banking services once it obtains a banking license. It also plans to promote Islamic finance through an «Islamic window» mechanism.
According to the ARDFM, the bank’s entry is the result of reforms aimed at liberalizing banking legislation and aligns with President Kassym-Jomart Tokayev’s directive to increase competition in the sector.
ADCB already operates in Kazakhstan through ADCB Islamic Bank (formerly Al Hilal Bank), the first Islamic bank in Kazakhstan and the CIS, established in 2010 under an agreement between the governments of Kazakhstan and the UAE.
In July 2024, Al Hilal Bank was reorganized to become directly owned by ADCB rather than through its UAE-based entity. Following the restructuring, the bank was rebranded.
The possibility of an ADCB subsidiary in Kazakhstan was first mentioned in September 2025, when ARDFM Chair Madina Abylkassymova said that two foreign banks were considering entering the country’s market.
