In terms of assets, Kazakhstan’s banking sector is larger than those of all Eurasian Economic Union (EEU) member states except Russia. Kazakh banks have 10 times the assets of banks in Kyrgyzstan and 2.5 times those of banks in Belarus, according to EEU data.
The total assets of Kazakhstan’s banks stood at $140.8 billion in 2025. Among EEU members, Kazakhstan ranked second only to Russia, whose banking sector had more than $2.7 trillion in assets.
Kazakhstan’s banking assets were 10 times larger than those of Kyrgyzstan ($13.9 billion), 2.5 times larger than those of Belarus ($56.2 billion) and more than four times larger than those of Armenia ($33.3 billion).
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In terms of annual asset growth, Kazakhstan ranked second to last among EEU members. Bank assets grew by 19.8% in 2025, compared with 37.3% in Russia, 32.4% in Belarus and 19.7% in Armenia. Kyrgyzstan led the EEU, with bank assets increasing 47.8% over the year.
Loans dominate bank assets
Loans and advances accounted for the largest share of assets at Kazakh banks, as they did across the EEU, representing 63% of total assets. The share was higher in Russia, at 73%, and Belarus, at 69%.
Kyrgyzstan was the only EEU member where loans accounted for nearly the same share of assets as foreign currency and deposits — 45% and 41%, respectively. In Kazakhstan, foreign currency and deposits accounted for 19% of bank assets, while securities, excluding shares, accounted for another 18%.
Notably, in 2025, Kazakhstan and Kyrgyzstan posted the highest return on assets among EEU members, at 4.2% each. Kazakhstan also led the EEU in return on equity, at 31.6%.
