The banking sector of Kazakhstan
is experiencing stable growth. To date, a total of 21 second-tier banks are
operating in the country, with 11 having foreign involvement and two being
fully state-owned. This was announced by Olzhas Kizatov, the Deputy Chairman of
the Agency of the Republic of Kazakhstan for Regulation and Development of
Financial Market, at a briefing in Astana. According to him, the assets of
financial institutions have increased by 8.6 percent to more than 48 trillion
tenge by the end of the first 10 months of this year. Customer deposits in the
banking system have also seen growth of nearly five percent, surpassing 33
trillion tenge. Kizatov also noted that the expansion of small and medium-sized
enterprises in the country has led to a 15 percent increase in the number of
business loans. Overall, banks have issued over 10 trillion tenge in such
loans.
“In terms of sectors, a
significant share of economic lending is directed towards the industrial
sector, accounting for 11.5 percent, and trade, which represents 10.2 percent.
Furthermore, there has been a 24 percent increase in lending for the
transportation sector and a 16 percent increase in the trade sector compared to
the beginning of the year,” Kizatov said.
