In 2024, the portfolio of corporate deposits in Kazakhstani banks reached 17.9 trillion KZT — 22.1% increase. At once 89% of the total business deposits volume is concentrated in the top-10 largest banks — holders of corporate funds: 15.9 trillion KZT, an annual increase of 22.8%. This clearly indicates businesses prefer to keep their money in reliable, proven financial institutions.
In particular, Madina Abylkassymova, Chair of The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market, noted that the increased volume of deposits "reflects growing confidence in the banking system among economic actors." Furthermore, the regulator emphasized that the banking sector remains stable, continues to grow, and actively supports Kazakhstan’s economic goals. Positive dynamics are observed across all key financial indicators.
Let's examine individual banks and their performance in the business deposit segment.
The absolute leader of the sector in annual growth of corporate deposits among top banks is Bereke Bank: an increase of 51.8% to 857.3 billion KZT at the beginning of this year. The bank's deposit portfolio is balanced: business deposits represent 56.8%, and the financial institution successfully operates in both corporate and retail segments.
Bank RBK ranks second in annual corporate deposit growth among top banks, with an increase of 47.6%, reaching 1 trillion KZT. Business deposits account for 61.2% of this financial institution's deposits.
Bank CenterCredit rounds out the top three, showing annual growth of 42.2%, reaching 2.5 trillion KZT at the start of the year. Business deposits constitute 46.9% of the bank's total deposit portfolio.
Additionally, corporate deposit portfolios of major banks like Shinhan Bank Kazakhstan (up 35.6%), ForteBank (up 32.1%), and Kaspi Bank (up 26.4%) grew faster than the sector average.
Overall, 19 of 21 second-tier banks in Kazakhstan, including the entire top ten, showed positive results. The growth of corporate deposits continues to accelerate. Compared to five years ago, current indicators have increased 2.1 times, and 2.6 times over the past decade.
This positive trend, characteristic of the banking sector as a whole and the corporate deposit segment, is expected to continue, this statement is supported by current figures and positive evaluations from regulators and international agencies. For instance, S&P Global Ratings upgraded Kazakhstan's position in the BICRA rating, improving the country's banking sector risk assessment from group "8" to group "7."
In the total portfolio of Kazakhstan's second-tier banks, corporate deposits represented 42.2%, compared to 41.8% at the beginning of the previous year and 48.2% five years ago.
In December 2024, the weighted average interest rate on term deposits in the national currency for non-bank corporate entities was 14% (compared to 14.6% in December 2023).
