Banks in Kazakhstan

2024

In Kazakhstan, citizens were allowed to prohibit themselves from issuing loans and microloans

Citizens of Kazakhstan can voluntarily establish a ban on the registration of loans and microloans. This was announced on August 12, 2024 in the electronic government of the country eGov.kz. Read more here.

How many people in Kazakhstan use mobile banking

The number of active mobile banking users in Kazakhstan reached 23.3 million people as of April 1, 2024, an increase of 2.7% since the beginning of the year. These data indicate a continuing increase in the digitalization of the country's banking sector.

According to the Internet agency Bizmedia, over the past ten years, Kazakhstani banks have actively introduced digital technologies, transferring more and more services to the online format. This allowed a significant increase in the share of households using online banking from 19.8% to 26.8% over the past two years. In 2017, this figure was only 8.9%.

𝓲

Unsplash

In the section of free applications "Finance" in the AppStore, Kaspi, Halyk and Bank CenterCredit are leading in downloads, whose assets amount to 15.1 trillion tenge, 6.8 trillion tenge and 5.4 trillion tenge, respectively. This indicates a link between the popularity of mobile applications and the size of banks' assets.

The Susan app ranks fourth in downloads and sixth in assets with 2.9 trillion tenge. Forte is in fifth place in downloads and also in fifth place in assets with 3.6 trillion tenge. The Bereke app ranks sixth in downloads and ninth in assets with 2.1 trillion tenge. Otbasy is in seventh place in terms of downloads and fourth place in terms of assets with 4 trillion tenge.

Eighth place goes to the Kaspi Pay app, designed to accept payment with Kaspi QR. Home Credit is in ninth place in downloads and in thirteenth place in assets with 823 billion tenge. Closes the top ten popular applications Tonkeeper - TON Wallet, designed to work with cryptocurrency. However, according to Bizmedia, there is no such company in the register of companies entitled to work with cryptocurrency in Kazakhstan.

Freedom Bank, which launched its super application on April 1, 2024, currently ranks 11th in downloads. In terms of assets, the bank is in eighth place with an indicator of 2.2 trillion tenge.^[1]

Notes