Five Kazakhstani banks hold approximately 1.5 trillion tenge in state aid on their balance sheets. This sum includes banks' liabilities for deposits, bonds, and loans provided to them on preferential terms from the budget, the National Fund, the National Bank, the Kazakhstan Stability Fund, as well as funds from the quasi-public sector.
According to Forbes.kz, between 2017 and 2020, as part of the programme to enhance the financial stability of the banking sector, six SBIs (second-tier banks) received state support through the purchase of subordinated bonds. Under this programme, the National Bank of the Republic of Kazakhstan allocated 700.5 billion tenge.
Thus, the largest payments were received by:
- Bank RBK - 243.7 billion tenge;
- Eurasian Bank - 150 billion tenge;
- ATFBank - 100 billion tenge;
- Tsesnabank - 100 billion tenge;
- Bank CenterCredit - 60 billion tenge;
- Nurbank - 46.8 billion tenge.
At the same time, it is reported that Jusan Bank, which succeeded Tsesnabank, early repurchased subordinated bonds from the Samruk-Kazyna National Welfare Fund worth 100 billion tenge. Bank RBK and Bank CenterCredit returned only 29.6 billion and 20 billion tenge, respectively.
No information is reported on repayments by other banks. However, it is noted that the authorised bodies continue to work on additional measures to encourage banks to return state aid early.
To recall, in January, President Kassym-Jomart Tokayev at an enlarged government meeting called on banks to participate more actively in the implementation of key state programmes. The head of state then reminded banks of the state aid they had received several years ago. He noted that some banks had already covered all their losses but continued to hold state funds.
It was reported that after the President's speech, the owner of Bank RBK JSC, Vladimir Kim, and the owner of Bank CenterCredit JSC, Bakhtiyar Baiseitov, discussed the possibility of a partial return of state aid.