Kazakhstan, a Central Asian country and former Soviet republic, stretches from the Caspian Sea to the Altai Mountains on China’s and Russia’s eastern borders. Almaty, the country’s largest city, has long been a trading hub, with attractions such as Ascension Cathedral, a tsarist-era Russian Orthodox church, and the Central State Museum of Kazakhstan, which houses thousands of Kazakh artefacts.
List of banks in Kazakhstan
The following is a list of banks in Kazakhstan.
Almaty Merchant Bank
The National Bank of the Republic of Kazakhstan is Kazakhstan’s central bank and represents the upper (first) tier of the country’s banking system. Within the limits of its authority, the National Bank represents the Republic of Kazakhstan’s interests in its dealings with central banks, foreign banks, international banks, and other financial-credit organisations.
Kazakhstan International Bank (KIB)
KazInvestBank (KIB), formerly KazInterBank, is a commercial bank in Kazakhstan. Kazakhstan authorities revoked Kazinvestbank’s licence on December 27, 2016, citing the bank’s repeated failures to process payments.
Kazkommertsbank (Kazakh: aкоммеранк, Qazkommertsbank) was Kazakhstan’s largest private bank, with a 24 per cent market share. On July 27, 2018, Kazkommertsbank and Halyk Bank merged.
Kazkommertsbank is a significant provider of banking services and other financial products to large and medium-sized businesses across the Kazakh economy.
Corporate banking, trade and project finance, personal banking, debit and credit card services, and foreign currency trading are the mainstays of its commercial banking division.
Acceptance of deposits and provision of loans and credit facilities in Tenge and foreign currencies are its main activities. In Kazakhstan, the Bank is also a major participant in the securities and foreign exchange markets.
In terms of assets and total deposits, JSC Bank CenterCredit is one of Kazakhstan’s largest commercial banks. Corporate and retail banking is the Bank’s main lines of business. Its corporate banking activities include providing a diverse group of domestic customers, primarily small and medium-sized businesses, with a wide range of wholesale banking products. Retail lending, deposit taking, and credit and debit cards are among the Bank’s retail banking activities and products. In Kazakhstan, the Bank is also a participant in the fixed income securities and foreign currency markets.
The Bank’s objects, as stated in its Articles of Association, are to promote the development of the state economy and to ensure that the Bank’s shareholders receive dividends through a variety of banking operations that are compliant with Kazakhstani laws.
The BTA Bank is a Kazakhstani bank based in Almaty. It was the third-largest lender in terms of assets in 2013. BTA Bank was the victim of one of the world’s largest financial frauds in 2009, with a total loss of $5 billion.
In Kazakhstan, DanaBank provides a comprehensive range of banking products and services to businesses, individuals, developers, and commercial property owners. Almaty, Pavlador, Karganda, Astana, and Taraz are among the bank’s five branches. Punjab National Bank, India’s third-largest bank, owns 63.64 per cent of JSC Dana Bank.
Halyk Bank is a Kazakhstan-based commercial savings bank with branches in Kyrgyzstan, Georgia, Russia, Tajikistan, and Uzbekistan. Its full Kazakh name is “Peoples’ Savings Bank of Kazakhstan Joint-Stock Company,” which translates to “Peoples’ Savings Bank of Kazakhstan Joint-Stock Company” in English.