Kazakhstan's Deposits Rise to 46.6 Trillion Tenge as Tenge Strengthens
This digest was compiled by AI from multiple sources — links to the originals are below.
Kazakhstan's total deposits increased by 450.8 billion tenge in March 2026, reaching 46.6 trillion tenge. The growth was driven by a rise in tenge deposits, while foreign currency deposits declined. This shift occurred even as businesses and individuals adjusted their savings strategies.
Tenge Deposits Surge
Deposits in Kazakhstan's national currency rose to 37.3 trillion tenge, an increase of 690.2 billion tenge or 1.9% month-on-month. This growth was accompanied by a decline in foreign currency deposits, which fell to 9.3 trillion tenge, a decrease of 239.4 billion tenge or 2.5% month-on-month. The shift marks a 'tenge recovery' following previous months' adjustments.
Business and Individual Deposits
Non-bank corporate deposits increased to 20.4 trillion tenge, up by 444.2 billion tenge or 2.2% month-on-month. In contrast, household deposits remained nearly unchanged at 26.2 trillion tenge, growing by only 6.6 billion tenge or 0.03% month-on-month. Tenge deposits rose for both companies and individuals, with corporate tenge deposits reaching 15.7 trillion tenge and individual tenge deposits rising to 21.7 trillion tenge.
Kazakhstan-US Tungsten Mining
Kazakhstan and the United States will jointly mine and process tungsten at two deposits in the Karaganda region: Severny Katpar and Verkhnee Kairakty. These are among the world's largest undeveloped tungsten reserves, with total estimated deposits of 410,000 tonnes.
GDP Growth Estimate at 4.5%
Kazakhstan's GDP growth for the first five months of the year is estimated at 4.5 percent, according to a statement by Nati. This figure provides a macroeconomic context for the recent surge in tenge deposits.
What's Next
The National Bank of Kazakhstan may adjust interest rates to influence deposit trends. It remains unclear how long the preference for tenge deposits will persist.
3 sources
Kazakhstan's Deposits Rise to 46.6 Trillion Tenge as Tenge Strengthens
