Here is a concise answer to the query “List of Banks in Kazakhstan”: Some of the major banks in Kazakhstan include Citibank Kazakhstan, Shinkhan Bank Kazakhstan, The National Bank of the Republic of Kazakhstan, Eurasian Bank, Home Bank, Bank CenterCredit, ForteBank JSC, and First Heartland Jusan. Kazakhstan is a country in Central Asia that has emerged as a major player in the global economy due to its vast energy and mineral resources.
The country has a well-developed banking system that caters to individuals, businesses, and governments. Kazakhstan’s banks offer a wide range of financial services, including traditional banking, investment banking, and insurance. We will provide an overview of the banking sector in Kazakhstan and list out some of the major banks operating in the country.
Major Local Banks In Kazakhstan
Kazakhstan offers a variety of major local banks, including Citibank Kazakhstan in Almaty, Shinkhan Bank and The National Bank of the Republic of Kazakhstan in Astana. Other notable banks in the country include Eurasian Bank, Home Bank, Bank CenterCredit, ForteBank JSC, and First Heartland Jusan.
If you’re doing business or planning to work in Kazakhstan, having a bank account in the country can be very advantageous. With its growing economy, Kazakhstan has become an attractive destination for many foreign investors and businesses. In this blog post, we will be discussing the major local banks in Kazakhstan that you can consider opening an account with. These banks offer various services that cater to different needs such as foreign currency exchange, loans, credit cards, and more.
Kaspi Bank
Kaspi Bank is one of the largest and fastest-growing banks in Kazakhstan. It was founded in 1997 and has since expanded its operations to cover the majority of the country. Kaspi Bank offers a wide range of services, including deposit accounts, loans, credit cards, and insurance products. It also has an online banking platform that lets customers perform transactions and manage their accounts easily.
Halyk Bank
Halyk Bank is the largest bank in Kazakhstan in terms of assets and deposits. It was founded in 1923 and has a vast network of branches and ATMs across the country. Halyk Bank offers services such as deposit accounts, loans, credit cards, and foreign currency exchange. It also provides online banking services that enable customers to perform transactions, pay bills and transfer money.
Atf Bank
ATF Bank is another major local bank in Kazakhstan. It was established in 1995 and has a wide network of branches and ATMs. ATF Bank provides services such as deposit accounts, loans, mortgages, and credit cards. It also offers internet and mobile banking services for customers who prefer to manage their accounts online.
Fortebank
ForteBank was established in 1994 and is one of the fastest-growing banks in Kazakhstan. It has a wide range of services, including deposit accounts, loans, credit cards, and foreign currency exchange. ForteBank is also known for its innovative solutions, such as its mobile banking application that provides customers with real-time access to their accounts, transactions, and other banking information. In conclusion, these are the major local banks in Kazakhstan that you can consider when opening a bank account. Each bank has its unique services and offers, so it’s important to assess your needs and choose the bank that aligns with them. Whether you’re a local or a foreigner, having a bank account in Kazakhstan can help you conduct business efficiently and manage your finances with ease.
International Banks Operating In Kazakhstan
Several international banks operate in Kazakhstan, including Citibank Kazakhstan, Ao “Shinkhan Bank Kazakhstan,” and the National Bank of the Republic of Kazakhstan. Other notable banks in the country are Eurasian Bank, Home Bank, Bank CenterCredit, ForteBank JSC, and First Heartland Jusan.
Non-residents can open an account in Kazakhstan by obtaining an IIN in NJSC “State Corporation “Government for Citizens” (PSC).
International Banks Operating in Kazakhstan Kazakhstan, located in Central Asia, is one of the fastest-growing economies in the region. As the country continues to develop, more and more international banks have started to operate in Kazakhstan. In this section, we will take a closer look at four of the most popular international banks operating in Kazakhstan.
Citibank Kazakhstan
Citibank Kazakhstan is a subsidiary of Citibank and has been operating in Kazakhstan since 1993. The bank offers a wide range of services, including corporate and investment banking, trade finance, treasury, and cash management.
Hsbc Kazakhstan
HSBC Kazakhstan is a subsidiary of HSBC and has been operating in the country since 1998. The bank provides a range of services, including corporate banking, investment banking, trade finance, and treasury and capital markets.
Raiffeisen Bank Kazakhstan
Raiffeisen Bank Kazakhstan is a subsidiary of Raiffeisen Bank International and has been operating in Kazakhstan since 1997. The bank offers a broad range of services, including corporate and investment banking, trade finance, and treasury.
Sberbank Kazakhstan
Sberbank Kazakhstan is a subsidiary of Sberbank and has been operating in Kazakhstan since 2006. The bank provides a range of services, including corporate banking, trade finance, and capital markets. Overall, these international banks have different areas of focus and provide various services to corporate and individual clients in Kazakhstan. As the economy develops, more and more international banks are expected to enter the market, offering more options to consumers.
Public Banks In Kazakhstan
Kazakhstan has a range of public banks to choose from, such as Citibank Kazakhstan, AO “Shinkhan Bank Kazakhstan”, and The National Bank of the Republic of Kazakhstan. Other notable banks in the country include Halyk Bank, Home Bank, Bank CenterCredit, ForteBank JSC, and First Heartland Jusan.
Public Banks in Kazakhstan are the entities that are owned and operated by the government. Among these, two major public banks are Development Bank of Kazakhstan and National Bank of Kazakhstan. Development Bank of Kazakhstan is the major development financial institution in the country, focusing on financing economic projects essential for the growth of the nation. National Bank of Kazakhstan, on the other hand, is the central bank and serves as a regulator for the country’s banking and financial services sector.
Development Bank Of Kazakhstan
Development Bank of Kazakhstan is a subsidiary of the National Welfare Fund, “Samruk-Kazyna” JSC. It is the largest development financial institution in Kazakhstan, established in 2001 with the purpose of funding the country’s projects related to economic growth. The bank offers diverse services, including project financing, loans, credit guarantees, and investments in corporate securities. In addition, the bank is actively promoting the development of Kazakhstan’s green economy by investing in renewable energy projects.
National Bank Of Kazakhstan
National Bank of Kazakhstan is the central bank and serves as a regulatory body for the country’s banking and financial services sector. The bank started its operations in 1993, and since then, it has been instrumental in ensuring monetary stability and economic growth of the country. It regulates and supervises Kazakhstan’s banking system, provides guidance on monetary policy, and oversees the financial stability of the country. The National Bank of Kazakhstan is responsible for maintaining the country’s foreign reserves and exchange rate policy, besides issuing currency.
Islamic Banks In Kazakhstan
Kazakhstan is home to a variety of banks, including Islamic banks such as Al-Hilal Islamic Bank. Other notable banks in the country include Citi, Halyk, and Bank CenterCredit.
In Kazakhstan, Islamic banking is becoming increasingly popular, with the country now boasting two dedicated Islamic banks. Al Hilal Islamic Bank and Al Baraka Bank Kazakhstan are leading the way in providing Shariah-compliant banking services to Kazakhstan’s Muslim population.
Al Hilal Islamic Bank
Al Hilal Islamic Bank, established in 2010, operates under Bahraini regulation and is a subsidiary of Al Hilal Bank PJSC. The bank offers a range of Islamic financial services, including Retail Banking, Corporate Banking, and Treasury activities.
Al Baraka Bank Kazakhstan
Al Baraka Bank Kazakhstan, established in 2008, is a subsidiary of Al Baraka Banking Group, providing a range of customized Shariah-compliant banking products and services for both individuals and corporate clients. Its services include Housing Finance, Trade Finance, and Investment Banking. Apart from these two Islamic banks, traditional banks in Kazakhstan also provide Islamic banking products and services to cater to the requirements of the Muslim community. Kazakhstan’s traditional banks with Shariah-compliant finance facilities include Bayterek Bank, Kaspi Bank, and Qazkom. With the increasing demand for Islamic banking, more banks are expected to join the bandwagon and offer Islamic banking services in Kazakhstan.
Conclusion
To conclude, Kazakhstan has a diverse range of banks, catering to the financial needs of its citizens and businesses. From local banks like Eurasian Bank and ForteBank JSC to international banks like Citibank and HSBC, there are numerous options available to choose from.
It is notable that foreign nationals can also open bank accounts in Kazakhstan, provided they have obtained an IIN in NJSC “State Corporation Government for Citizens” (PSC). Therefore, it appears that the banking sector in Kazakhstan is robust, competitive, and poised for future growth.