Outpacing the Market: Bank RBK Leads in Loan Portfolio Growth

Kazakhstan’s banking sector continued to expand in September 2026, with all key indicators showing positive momentum, including lending. The combined loan portfolio of the country’s second-tier banks grew by 1.1%, or nearly KZT 500 billion, during the month. This marked one of the largest monthly increases since the beginning of the year, according to Ranking.kz.

However, performance varied considerably across individual banks. Only 12 of Kazakhstan’s 23 second-tier banks managed to expand their loan portfolios in September, while the remaining 11 recorded declines.

The country’s largest banks continue to drive lending activity, accounting for approximately 92% of the sector’s total loan portfolio.

Among Kazakhstan’s major banks, Bank RBK emerged as the leader in loan portfolio growth in September. Its loan book expanded by 5.4% to KZT 1.8 trillion, significantly outpacing the sector’s monthly average. The bank also ranked first in absolute growth, adding KZT 90.3 billion to its loan portfolio over the month. This made Bank RBK the largest contributor to lending growth among the country’s major banking institutions.

Alatau City Bank ranked second in percentage terms, with its loan portfolio growing by 5.1% to KZT 1.3 trillion. In absolute terms, the increase amounted to KZT 64.3 billion.

ForteBank completed the top three, recording growth of 2.5% to KZT 3.2 trillion. Its loan portfolio increased by KZT 77.8 billion during the month.

Home Credit Bank and Otbasy Bank also made the top five, with growth rates of 2% and 1.6%, respectively.

Lending Growth Across All Major Segments

Positive momentum was recorded across all major lending segments. Loans to non-financial companies increased by 0.6% during September, reaching KZT 17.4 trillion, while lending to financial institutions rose by 13.3% to KZT 1.5 trillion. Retail lending also expanded, growing by 0.7% to KZT 26.7 trillion.

On a year-on-year basis, the combined loan portfolio of Kazakhstan’s second-tier banks increased by 12.4%, equivalent to KZT 5.2 trillion.

Despite the uneven performance of individual banks, Kazakhstan’s lending market continues to show an upward trend. Strong portfolio growth among the most active lenders is helping to offset contractions at other institutions and sustain overall sector expansion. As a result, the performance of individual market leaders is playing an increasingly important role in supporting the stability and continued growth of Kazakhstan’s banking industry.

License No. 1.1.821.135 dated July 15, 2026, issued by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market.