As of the first half of 2026, the volume of deposits of individuals in Kazakh banks exceeded 30 trillion tenge for the first time. Against this backdrop, the Kazakhstan Deposit Insurance Fund (KDIF) increased its special reserve by 10% to 1.73 trillion tenge. This was reported by Qazaqyia.kz citing Kursiv Media.
According to the fund, over six months, household deposits in banks participating in the deposit insurance system grew by 7%. The main growth was driven by deposits in national currency, which increased by 9.5%. Foreign currency deposits, on the contrary, decreased by 3.4%.
The fastest-growing products were time deposits with the option to top up. Their volume grew by more than 2.5 times, or 167%, over the half-year. Savings deposits with replenishment increased by 159%. Housing and educational savings deposits grew by 12%, and time deposits without replenishment by 6%. At the same time, the volume of savings deposits without replenishment and demand deposits decreased.
Amid the growth of the deposit base, the KDIF increased its special reserve to 1.73 trillion tenge. The fund's chairman, Adil Utembayev, noted that this amount is about 6% of the total volume of household deposits.
According to him, the current size of the reserve meets the requirements of legislation and international practice.
"By law, the reserve must be at least 5% of the volume of guaranteed deposits. At the end of the first half-year, this indicator indeed reached 5.8%," Utembayev said.
He recalled that since the creation of the deposit insurance system in Kazakhstan, 11 banks have ceased operations. At the same time, the fund independently fulfilled its obligations to depositors. For example, obligations to Tengri Bank clients amounted to 17.8 billion tenge with a reserve of 604 billion tenge, and to Capital Bank Kazakhstan depositors – 1.7 billion tenge with a reserve of 650 billion tenge.
According to the head of the KDIF, the legislation provides for at least three additional sources of financing, but in practice the fund managed with its own funds. None of the mechanisms involve the use of budget funds.
Utembayev emphasized that the fund's financial model remains fully autonomous. The special reserve is formed at the expense of the banking sector and does not depend on the state budget or current economic reforms.
Currently, 37% of the reserve is provided by regular contributions from participating banks, another 62% comes from investment income. The rest is formed from other sources provided by law.
The fund's funds are placed in highly liquid assets. More than half of the reserves (56%) are invested in government securities of Kazakhstan. Another 11% is in US Treasury bonds. The rest is invested in money market instruments, quasi-public sector securities, and international development institutions.
The head of the KDIF also reminded about the current limits of guaranteed compensation. The maximum payout for savings deposits in tenge is 20 million tenge per depositor in one bank. For other types of deposits, current accounts, and payment cards in national currency, the limit is set at 10 million tenge. For foreign currency accounts, up to 5 million tenge in equivalent is guaranteed.
If a client has several different deposits in one bank, the total payout cannot exceed 20 million tenge.
According to the fund, taking into account current limits, the KDIF today fully protects 99.8% of all deposit accounts of Kazakhstanis, including payment cards.
Earlier, Kursiv wrote that Kazakhstanis will get money from deposits of problem banks returned faster.