The head of state heard a report on the financial market's development results for 2025 and the objectives for the coming period.
Madina Abylkasymova reported that the banking sector's stability was ensured by the end of the year, and the annual supervisory assessment cycle was completed. Bank assets increased by 11% to 68.3 trillion tenge, and the capital adequacy ratio stands at 20.7%.
The head of state was informed about the new law that had been developed on banks, laws on investment funds and rating activities.
The President was informed that business loans increased by 17.9% as of November 2025, reaching 14.8 trillion tenge. New loans totaling 17.5 trillion tenge have been issued to businesses. Banks are co-financing eight syndicated projects totaling 2.3 trillion tenge. To support small and medium-sized businesses, the SME Loan Guarantee Fund was established in June 2025 within the Damu Fund. Loan guarantees totaling 505 billion tenge have been issued.
Kassym-Jomart Tokayev was informed that consumer lending has slowed by half compared to 2024. A ban on loans with terms exceeding five years in case of overdue payments has been introduced, the issuance of loans with terms of three to five years and high-risk loans has been limited, and a new total debt-to-income ratio has been established.
To reduce household debt burden, banks and microfinance organizations have settled and partially forgiven loans for 703,000 borrowers. Since the bankruptcy law was introduced, banks have forgiven 209.7 billion tenge in debt for 56,000 individuals under the personal bankruptcy mechanism. Support for 1,200 borrowers has been provided under the Mortgage Refinancing Program.
To combat financial fraud, a "cooling-off period" has been introduced at the legislative level when issuing loans, mandatory personal presence has been established when receiving the first loan, and the grounds for judicial and extrajudicial loan write-offs in cases of fraud have been expanded.
As part of its supervisory activities, the Agency conducted 49 inspections and documentary audits of banks, 47 of insurance market participants, 54 of securities market participants, and 260 of microfinance entities and collection agencies in 2025. 628 supervisory measures were applied and fines totaling 641.3 million tenge were imposed. Fifty-eight entities in the microfinance and collection agency markets had their licenses revoked, including 23 forcibly, and nine had their licenses suspended.
Following the meeting, the Head of State issued a number of instructions aimed at ensuring financial stability, increasing lending to the real sector of the economy, and strengthening the protection of the rights of consumers of financial services.
By the Kazakhstanskaya Pravda
