The financial institutions of Kazakhstan concluded the previous year with impressive results. The total net profit of the banking sector reached 2.6 trillion tenge, reflecting a 17% increase compared to the previous year's figures.
The majority of the revenue was generated by the largest organizations in the country.
The top ten banks in the republic collectively earned over 2.3 trillion tenge. While there were no new entrants, some banks significantly changed their rankings.
CenterCredit Bank, owned by Bakytbek Baiseitov and Vladislav Li, made it into the top three leaders.
Over the year, its net profit rose by 65 billion tenge, totaling 195 billion tenge. In the previous year, the bank held the 5th position.
ForteBank, owned by Bulat Utemuratov, climbed to the top thanks to a profit increase of 33 billion tenge, which accounts for a quarter of last year's total. In December, this bank surpassed Jusan and moved up to the 4th ranking position.
Despite an increase in revenue of 16 billion tenge, Jusan was unable to maintain its previous position and ultimately dropped to 5th place.
Some participants exhibited negative dynamics.
The state-owned Otbasy Bank lost three positions, falling from 3rd to 6th place.
Citibank and Eurasian Bank also reported a decline in profits, but their rankings remained unchanged.
Freedom Bank, owned by Timur Turlov, demonstrated rapid profit growth of 48%. This enabled it to surpass the Russian VTB in December and secure the 10th position among the most profitable banks in the country.
In 2024, Halyk earned the most at 844.8 billion tenge. Kaspi Bank followed in second place with a profit of 530.8 billion tenge. CenterCredit Bank ranked third with 195 billion tenge. ForteBank took the fourth spot with nearly 160 billion tenge, surpassing Jusan, which reported a profit of 156.7 billion tenge. Otbasy Bank secured the sixth position with 120.8 billion tenge. Citibank Kazakhstan came in seventh with 98.6 billion tenge. The eighth place went to Eurasian Bank, which earned 91 billion tenge. Bank RBK remained in ninth place with a profit of 56.5 billion tenge, while Freedom Bank completed the top ten with 50.7 billion tenge.