The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Kazakh banks face market shake-up

Kazakhstan’s three biggest banks dominate the industry, but there are opportunities for the country’s second-tier institutions. Patrick Gill reports.

By Patrick Gill

THE KAZAKH ECONOMY is continuing to grow strongly, so new opportunities are opening for a wider range of banks than the traditionally strong top three. Although Kazkommertsbank, Halyk Bank and Bank TuranAlem still control about 60% of the market by assets, smaller banks are making headway with loans to small and medium-size enterprises and consumer financing.

Although the top three remain focused on corporate loans, Bank Caspian, CenterCredit, ATF Bank and Eurasian Bank are among those vying for greater market share in retail lending, the fastest-growing area of an increasingly competitive environment. With GDP expected to grow by 9% this year and 8.3% in 2006, the macroeconomic environment looks set to drive further demand for the services that are underpinning the expansion of Kazakh banks. As in Russia, wealthier consumers and nascent small businesses are the main targets of these services.

Bank Caspian, the country’s seventh largest by assets, is an example of a bank that has switched its focus to the lucrative retail segment in response to rising demand from individuals and small businesses.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree