Kazakhstan’s Banks Are Still Making Billions, But Profit Growth Is Slowing

Kazakhstan’s banks are still earning hundreds of billions of tenge in profit, but not as quickly as they did a year earlier. On average, they earned 28 billion tenge less per month than in 2025, Orda.kz reports.

According to the National Bank, second-tier banks earned 795.9 billion tenge in net profit in January–April 2026. Before income tax, the figure was even higher at 988.8 billion tenge, but almost 193 billion tenge went to taxes.

Banks still make most of their money from customers. In the first four months of the year, customer operations brought the sector 2.57 trillion tenge in income. Expenses on the same operations amounted to 1.68 trillion tenge.

Commission income reached 285.5 billion tenge, while commission expenses stood at 131.4 billion tenge.

The sector is no longer maintaining last year’s pace of earnings. In 2025, banks earned 2.72 trillion tenge, or 227 billion tenge per month on average. In January–April 2026, the average result was about 199 billion tenge per month. The difference is almost 28 billion tenge per month.

Original author: Alexander Zhdanov

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