Kazakh banks have received 1.396 trillion tenge in net profit since the start of 2026, which is 14.9% less than the figure for the same period in 2025. At the same time, lending to the population continued to grow, and the average weighted rate on consumer loans reached 22.5% in July.
WHY BANK PROFITS HAVE FALLEN
According to the Agency for Regulation and Development of the Financial Market (ARDFM), by 1 August 2026, the assets of the banking sector had reached 75.6 trillion tenge, having increased by 1.9% during July.
The return on assets of banks fell from 3.7% to 3.5%, while return on equity fell from 24.1% to 23.2%.
WHY LENDING TO THE POPULATION CONTINUES TO GROW
The total loan portfolio of banks reached 42.1 trillion tenge. During July, it grew by 0.4%, and since the start of the year — by 4.8%. The main driver of growth in July was lending to individuals.
Loans to the population increased by 1.2% over the month and reached 26.1 trillion tenge. Consumer loans grew by 0.7% — to 17.4 trillion tenge, while the mortgage portfolio added 2.4% and reached 7.6 trillion tenge.
At the same time, the cost of borrowing for the population rose. The average weighted rate on tenge loans increased from 19.5% in June to 20.3% in July, and on consumer loans — by 1.5 percentage points, to 22.5%.
WHY BUSINESSES HAVE CUT THEIR LOAN PORTFOLIOS
The business loan portfolio decreased by 0.7% — to 16 trillion tenge during July. Loans to large businesses fell by 1.6%, while those to small and medium-sized businesses fell by 1%.
The ARDFM attributes this to large early repayments and the revaluation of foreign currency loans amid a strengthening tenge. At the same time, the volume of new loans issued to businesses in July amounted to 2.1 trillion tenge, which is 23.6% more than a year earlier.
HOW THE SITUATION WITH OVERDUE LOANS HAS CHANGED
The share of loans overdue by more than 90 days in the banking sector remained at 4.1%, or 1.9 trillion tenge. Among individuals, this figure fell from 4.8% to 4.7%, while among businesses it rose to 3.9%.
Deposits of individuals increased by 1.3% — to 28.4 trillion tenge during July, while corporate deposits grew by 1.8% — to 22.5 trillion tenge. The total volume of resident deposits reached 50.9 trillion tenge.
As of 1 August 2026, 23 second-tier banks were operating in Kazakhstan, including 10 subsidiary banks and one bank with 100% state participation. The share of foreign currency deposits fell from 19.7% in June to 19.1%.
CONTEXT
Earlier, it became known that the volume of household deposits in the banks of Kazakhstan reached 30 trillion tenge for the first time at the end of the first half of 2026. Over six months, the amount of savings grew by 1.9 trillion tenge, or by 6.7%.
