Best bank: Halyk Bank
After being knocked back by Russia’s invasion of Ukraine, Kazakhstan’s economy rebounded last year, notching up over 5% growth on strong levels of consumer and public spending.
Capitalizing on this and benefiting from bumper interest income from rates of over 15%, the country’s banking sector delivered record profits of KT2.2 trillion ($4.78 billion) in 2023, up from KT1.5 trillion the year before.
Among several banks that recorded a good performance, Halyk Bank stands out not only for delivering market-leading growth and the highest net profit but also for the development of its banking businesses, making it Kazakhstan’s best bank.
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