As of August 1, the volume of deposits from individuals and businesses in the country's banks reached 51.7 trillion tenge. This was reported by Qazaqyia.kz citing Kursiv Media.

Over the month, they grew by 948 billion tenge, which is 46% less than in June. At the same time, Freedom Bank and Bank CenterCredit broke into the leaders in attracting deposits from Kazakhstani citizens.

Rating Methodology

Note that our rating refers to the net change in deposits over the month, that is, the total deposits minus withdrawals and vice versa.

Household Deposits

In July, household deposits in net terms grew by 388.7 billion tenge, or 1.3%, reaching 30.5 trillion tenge. This is worse than June's results, when growth was 824.6 billion tenge, and May's 725 billion tenge.

In all ten largest banks except one, household deposits grew in July. In Bereke Bank, they decreased by 16 billion tenge to 863 billion tenge.

In other banks, growth rates were lower than in the previous month, which was a record this year. Kaspi Bank has remained the leader for several consecutive months, with retail deposits growing by 180.9 billion tenge, or 2.4%, to 7.8 trillion tenge.

Unexpectedly, Freedom Bank took second place in attracting household deposits – they grew by 57.8 billion tenge, or 5.8%. This is more than last month, when the bank first entered the top five. Deposits of Kazakhstani citizens in Freedom Bank reached 1 trillion tenge.

Bank CenterCredit closed the top three with an increase in deposits of 51 billion tenge, or 1.4%. This is almost half the growth in June – 94.4 billion tenge. Household deposits in BCC reached 3.7 trillion tenge.

The leaders in growth of household deposits in July were:

  • 01Kaspi Bank: +180.9 billion tenge
  • 02Freedom Bank: +57.8 billion tenge
  • 03Bank CenterCredit: +51 billion tenge

Corporate Deposits

In July, companies were more active than the population, although growth still significantly lags behind June's figure. The volume of corporate deposits grew by 559 billion tenge, or 2.7%, exceeding 21 trillion tenge.

As with households, only one of the ten largest banks saw a decline in business deposits – Bereke Bank, where deposits decreased by 29 billion tenge, or 3%, to 952 billion tenge.

The main recipient of funds from businesses was unexpectedly Forte Bank – by 157.8 billion tenge, to 2.4 trillion tenge. It is followed by Halyk Bank – 148.7 billion tenge, to 6.5 trillion tenge. Together, these banks accounted for more than half of the growth in corporate deposits across the entire sector.

The most significant growth in percentage terms was in Otbasy Bank, where businesses increased deposits by 54% to 241 billion tenge.

The leaders in growth of corporate deposits among the ten largest banks were:

  • 01Forte Bank: +157.8 billion tenge
  • 02Halyk Bank: +148.7 billion tenge
  • 03Otbasy Bank: +54% (241 billion tenge)

Overall Indicators

Combining household and business deposits, Kaspi Bank was the main recipient of funds in July. Its deposit base grew by 254 billion tenge. Forte Bank attracted 190.7 billion tenge, and Halyk Bank – 187 billion tenge.

These three banks accounted for 631.7 billion tenge of deposit growth, or 66.6%.