Kazakhstan bank profits fall 15% to 1.4 trillion tenge in Jan-July

September 28, 2026 at 09:23 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Kazakhstan's banks earned 1.4 trillion tenge in net profit in January-July 2026, down 14.9% from a year earlier, according to the Agency for Regulation and Development of the Financial Market. The decline came despite growth in lending and capital, with Otbasy Bank bucking the trend with a 25.4 billion tenge profit increase.

Key Facts

Net profit of Kazakhstan's banks fell 14.9% year-on-year to 1.396 trillion tenge in January-July 2026.
The sector lost about 244 billion tenge in profit compared with the same period of 2025.
Otbasy Bank increased its seven-month profit by 25.4 billion tenge to 100 billion tenge, the largest absolute gain among banks.
Banking sector equity reached 11.4 trillion tenge as of August 1, 2026, up 7.6% since the start of the year.
In full-year 2025, Otbasy Bank paid 100 billion tenge in dividends to its state shareholder, Baiterek holding.

Sector Profit Decline

Kazakhstan's banks earned 1.396 trillion tenge in net profit in January-July 2026, down 14.9% from 1.6 trillion tenge a year earlier. The year-on-year decline amounted to about 244 billion tenge, reversing a 27.3% profit increase in the same period of 2025. The Agency for Regulation and Development of the Financial Market reported the figures, noting that lending and capital continued to grow despite the profit drop. In full-year 2025, second-tier banks earned 2.7 trillion tenge, up 6.6% or 168.4 billion tenge from 2024.

Otbasy Bank Outperformance

Otbasy Bank posted a seven-month profit of 100 billion tenge, up from 74.5 billion tenge a year earlier. The 25.4 billion tenge increase was the largest absolute gain among banks that improved their results. Otbasy Bank is wholly owned by Baiterek holding and is a key operator of housing finance, issuing 77,148 loans worth 1.645 trillion tenge in 2025. In full-year 2025, Otbasy Bank's net profit rose 5.5% to 127.5 billion tenge, of which 100 billion tenge was paid as dividends to the state shareholder.

Other Banks' Results

Citibank Kazakhstan increased profit by 5.7 billion tenge to 59.3 billion tenge. Industrial and Commercial Bank of China added 1.4 billion tenge to reach 17.7 billion tenge, while Islamic Bank ADCB also gained 1.4 billion tenge to 4.4 billion tenge. Home Credit Bank added 0.9 billion tenge to 26.6 billion tenge, Bank of China in Kazakhstan rose 0.6 billion tenge to 17.4 billion tenge, and KZI Bank increased 0.4 billion tenge to 12.1 billion tenge. Thirteen banks reported lower profits in the period.