Kazakhstan business lending rises 16.8% to 22 trillion tenge over 12 months
This digest was compiled by AI from multiple sources — links to the originals are below.
Kazakh banks issued 22 trillion tenge in business loans over the 12 months to July 1, 2026, up 16.8% year-on-year, National Bank Deputy Governor Akylzhan Baimagambetov said in Astana. The corporate loan portfolio grew 17.1%, while SME lending jumped 29.6% and now accounts for 69% of corporate loans. Consumer lending rose 14.5%, with unsecured loans up 9.4%, as regulators steer credit from consumption toward production.
Key Facts
- Kazakh banks issued 22 trillion tenge in business loans over the 12 months to July 1, 2026, up 16.8% year-on-year.
- The corporate loan portfolio grew 17.1% year-on-year as of July 1, 2026, while SME lending rose 29.6%.
- SMEs and individual entrepreneurs account for 69% of all corporate loans in Kazakhstan.
- Consumer lending grew 14.5% year-on-year, with unsecured loans up 9.4%.
- In Q2 2026, mortgage applications rose 19% quarter-on-quarter to 228,000, with an average size of 21.5 million tenge.
Business Lending Surge
National Bank Deputy Governor Akylzhan Baimagambetov presented the lending data in Astana. The corporate loan portfolio expanded 17.1% year-on-year as of July 1, 2026. SME lending grew 29.6%, and SMEs plus individual entrepreneurs now hold 69% of the corporate loan book. Baimagambetov attributed the growth to enterprise demand, bank activity, state support programs, and regulatory incentives.
Consumer Credit Cooling
Consumer lending rose 14.5% year-on-year, while unsecured loans increased 9.4%. Baimagambetov said the slowdown reflects earlier prudential measures and shifts credit from consumption to production without reducing overall access to borrowing. The debt-to-income ratio ceiling remains at 50%, with no new borrower requirements introduced.
Retail Loan Demand
In Q2 2026, banks reported higher demand for all retail loan products, according to National Bank acting director Dinara Tazetdinova. Mortgage applications rose 19% quarter-on-quarter to 228,000, with an average size of 21.5 million tenge. Auto loan applications increased 20%, while the average size fell 3% to 7 million tenge. Unsecured consumer loan applications totaled 15.9 million, with the average size up 10% to 1.062 million tenge.
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Kazakhstan business lending rises 16.8% to 22 trillion tenge over 12 months
