In June 2026, Kazakhstani banks earned 159.9 billion tenge ($302 million) in net profit, down 33.3% from 239.8 billion tenge ($452.5 million) in May. This was the weakest monthly result since the beginning of the year, Kursiv.kz reported.
At the end of the first half of the year, banks' total profits amounted to 1.19 trillion tenge ($2.25 billion), down 13.3% year-on-year. Interest income increased by 19.6%, non-interest income by 24%, while expenses increased by 11.4%.
The decline in June profits does not indicate a systemic deterioration in the banking sector: despite a high interest rate environment, revenues continue to grow, and capitalization remains stable. As of June 1, bank capital reached 11.1 trillion tenge ($20.9 billion), with capital adequacy ratios significantly exceeding minimum requirements.
Top 5 banks of Kazakhstan by net profit in June:
- Halyk Bank
- Kaspi Bank
- ForteBank
- Alatau City Bank
- Bank CenterCredit
These five banks maintain their leading positions, but profit dynamics highlight the differences in the business models of the largest players. Halyk remains one of the most resilient systemic banks, while Kaspi maintains a strong position thanks to its extensive digital ecosystem and high profitability in its retail business.
Overall, the June decline reflects a normalization after an exceptionally strong May rather than a sharp deterioration in the sector's financial position. However, rising expenses and declining profits remain a factor that banks will have to consider in the second half of the year. For the sector, this means maintaining the quality of the loan portfolio and controlling funding costs amid persistently high interest rates.
CentralasianLIGHT.org
July 31, 2026