In September 2026, corporate deposits in Kazakhstan increased by 1.2 trillion tenge (+5.7% month-on-month), the highest monthly gain this year. This was reported by Qazaqyia.kz citing Kursiv Media.

Annual dynamics: volatile growth

The corporate deposit segment has seen high volatility throughout 2026. In the first two months, the system experienced a net outflow of 1.5 trillion tenge, then from March to July the portfolio grew continuously (+2.2 trillion tenge over 5 months), in August there were again large withdrawals (–0.8 trillion tenge), which in September were replaced by an even stronger inflow (+1.2 trillion tenge).

In relative terms, the September gain (+5.7% month-on-month) was also the highest this year. The record was not hindered by negative currency revaluation resulting from the national currency strengthening by 4.6% during the month (from 462.3 tenge per dollar on September 1 to 440.9 on October 1).

Breakdown by banks: BCC leads

In terms of individual second-tier banks, corporate funds grew in September at 15 out of 23 players for a total of 1.4 trillion tenge. BCC stood out particularly, with its portfolio jumping by 18.0% in a month (+539 billion tenge). Bank RBK (+134 billion tenge; +12.7%) and Alatau City (+97 billion tenge; +12.3%) also posted solid growth for their size. Halyk showed the second nominal increase (+286 billion tenge), but in terms of growth rate (+4.7%) it was not as rapid as the three competitors mentioned above.

Eight banks saw their portfolios decline in September – by a combined 252 billion tenge. Kaspi showed the worst dynamics of the month (–90 billion). The declines at American Citibank (–43 billion) and Korean Shinhan (–35 billion) may have been paper-driven due to the high level of dollarization of these players' liabilities.

Year-to-date results: BCC takes the lead

Since the beginning of the year, corporate funds in the system grew by 1.0 trillion tenge, or 5.0%, against a backdrop of the tenge strengthening by 12.8% against the dollar. BCC captured the lead in the ranking by absolute growth (+414 billion tenge over 9 months). The top 3 also includes Freedom (+282 billion) and Halyk (+239 billion). Next are foreign players: Chinese TPB (+112 billion) and Turkish KZI (+107 billion).

Eleven banks experienced nominal outflows. The largest declines were at Eurasian (–131 billion) and Bereke (–119 billion). The third outsider was Altyn (–74 billion). Among large players, negative dynamics are also shown by Forte (–54 billion) and Bank RBK (–16 billion).

Freedom retained its leadership in growth rate (excluding minor players) (+47.9% year-to-date). It is followed by two fast-growing Chinese institutions: TPB (+35.4%) and Bank of China (+25.6%). BCC (+13.3%), Alatau City (+8.7%) and Citibank (+8.0%) are also growing faster than the market.

The ranking is closed by three banks with double-digit portfolio declines: Bereke (–11.0%), Altyn (–12.2%) and Eurasian (–13.0%).

Retail accounts: symbolic growth

Retail account balances showed symbolic growth of 14 billion tenge (+0.05%) in September. Taking capitalization into account, the real inflow this month could have been zero or even negative.

Kaspi demonstrated the best dynamics of the month (+94 billion tenge). Besides it, only three players achieved noticeable growth: Freedom (+27 billion), Otbasy (+26 billion) and Home Credit (+25 billion). Conversely, the main outsider of September was Bank RBK (–78 billion tenge). Smaller outflows were experienced by Halyk (–13 billion), Alatau City (–18 billion), BCC (–19 billion) and Forte (–20 billion).

Over the nine months, the total retail portfolio increased by 2.4 trillion tenge (+8.6%). Kaspi grew by 877 billion and strengthened its leadership in the ranking by absolute dynamics. Competitors lag significantly: at BCC, individual funds grew by 403 billion, at Halyk – by 285 billion, at Freedom – by 222 billion, at Forte – by 196 billion. The gap between Kaspi and Halyk is narrowing: as of October 1, it shrank to 129 billion tenge versus 721 billion at the beginning of the year.

Retail outflows are observed at eight banks. Alatau City shows the worst dynamics (–51 billion tenge). Among significant universal players, Eurasian (–14 billion) and Altyn (–11 billion) also moved down.

In relative terms (excluding players with a weak presence in the retail segment), the fastest-growing portfolios are Freedom (+25.2% year-to-date) and Home Credit (+21.9%). Double-digit growth rates are also demonstrated by Forte (+14.4%), Kaspi (+12.5%), BCC (+12.1%) and specialized Otbasy (+11.7%). Halyk shows moderate growth (+3.7%). The outsider of the ranking is Alatau City (–6.8%).

Assets: BCC leads

Sector assets increased by 1.14 trillion tenge in September, exactly mirroring the dynamics of client funds (+1.18 trillion). Accordingly, BCC grew the most in size (+480 billion tenge in a month) thanks to ultra-large corporate inflows. Next were China's TPB (+173 billion), Bereke (+138 billion), Halyk (+129 billion) and Bank RBK (+120 billion).

Seven players experienced asset declines. Citibank showed the worst dynamics (–94 billion tenge in a month) amid strong strengthening of the national currency. The same reason may have affected Korean Shinhan (–33 billion). Among large universal second-tier banks, assets declined in September at Forte (–66 billion), Eurasian (–42 billion) and Kaspi (–31 billion).

Since the beginning of the year, total assets grew by 6.1 trillion tenge (+8.6%). Halyk (+1.4 trillion) and Kaspi (+1.2 trillion) are contesting the lead in absolute growth. Non-market Otbasy (+862 billion) and universal BCC (+860 billion) are growing equally. Among second-tier banks, Freedom (+536 billion) shows the best dynamics. Next are the actively growing "Chinese" – TPB (+448 billion) and Bank of China (+307 billion). They are conditionally followed by the affiliated tandem of subsidiary Home Credit (+303 billion) and parent Forte (+275 billion). Bank RBK (+166 billion) closes the top 10.

Eight banks decreased in size as of the end of the reporting period. Eurasian declined the most (–218 billion tenge). It was joined in the list of anti-leaders by Bereke (–108 billion) and Alatau City (–62 billion).

A new leader has emerged in the ranking by asset growth rate (excluding small players with assets under 1 trillion tenge). Chinese TPB grew by 173 billion tenge in September and brought its assets to 1.1 trillion, becoming the 14th bank in the sector whose assets exceed 1 trillion tenge. In relative terms, its assets grew by 72.6% year-to-date.

As for universal players, Home Credit (+23.9%) shows the best growth rates among them.