South Korean Shareholder To Inject 4.7 Billion Tenge Into Kazakhstan’s Only Loss-Making Bank

BNK Commercial Bank will be recapitalized by 4.69 billion tenge after remaining the only loss-making bank in Kazakhstan in the first two months of the year, Orda.kz reports.

The bank’s board of directors approved an additional share issue worth 4.69 billion tenge. A total of 468,889 shares with a par value of 10,000 tenge each will be issued and placed under the pre-emptive right of the sole shareholder.

At the beginning of the year, the Agency for Regulation and Development of the Financial Market issued an order to the bank. The regulator pointed to losses of 1.7 billion tenge for the first 11 months of 2025. BNK Commercial Bank has held a banking license only since August. The bank also failed to meet the minimum capital requirement for second-tier banks, with its own funds falling 314 million tenge short of the 10 billion tenge threshold.

The agency did not insist on additional capitalization, but said the violations had to be corrected. BNK Commercial Bank has been aggressively attracting liabilities since its first months of operation, offering an effective annual rate of up to 20.5% on retail deposits. At the same time, its household deposit base stands at 1.2 billion tenge. By this indicator, BNK Commercial Bank is ahead of only Islamic Zaman Bank.

Until last year, BNK operated as a microfinance organization. In June, it received a banking license from the regulator, and in August it began operating in its new capacity. Another former microfinance institution, KMF Bank, entered the market at around the same time.

In January and February, BNK Commercial Bank posted a net loss of 345.8 million tenge, making it the only bank in Kazakhstan with a negative financial result over that period. BNK Commercial Bank belongs to South Korea’s BNK Capital, which is part of one of the country’s largest financial holdings, BNK Financial Group.

Original author: Alexey Afonsky

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