Bank RBK leads market in deposit growth amid rising trust
Deposits held with Kazakhstan’s second-tier banks reached KZT 48.2 trillion as of May 1 this year, up 1% compared to the previous month, according to Ranking.kz with reference to the National Bank of the Republic of Kazakhstan. Kazakhstan currently has 23 second-tier banks in operation, including 14 banks with foreign participation, among them 10 subsidiary banks, Qazinform News Agency correspondent reports.
Among the country’s top 10 banks by retail and corporate deposits, Bank RBK recorded the strongest month-on-month growth by a significant margin. Its deposit portfolio increased by 8.9%, or KZT 159.2 billion, reaching KZT 1.95 trillion. On an annual basis, deposits grew by 28.7%, well above the overall second-tier banking sector growth rate of 11.9%.
Bank RBK’s products remain popular among both retail and corporate clients. For individual customers, the bank offers a range of deposit products, including the flexible Depositum account (effective annual interest rate of up to 14.5%), the Dream and Grand savings deposits (up to 19%), and SAFE (up to 17.51%).
Bank RBK also offers a broad range of deposit products for businesses, including corporate deposits, conditional deposits for subsoil users, and short-term Overnight deposits. Notably, the bank’s corporate deposit portfolio posted a record monthly increase of 17.1%, reaching KZT 1.16 trillion, the highest growth rate among Kazakhstan’s largest banks. Such results reflect strong confidence in the bank from both the market and the business community.
Among the country’s largest second-tier banks, Kaspi Bank ranked second in terms of monthly deposit growth, with its portfolio expanding by 3.7% to KZT 8.2 trillion. Freedom Bank came third, posting growth of 2.4% and bringing its deposit portfolio to KZT 1.6 trillion.
Also posting positive monthly growth among the top 10 banks were Halyk Bank, with deposits rising by 1.7%, and Bank CenterCredit, which recorded an increase of 0.7%. The remaining major deposit-taking banks saw a decline in their deposit portfolios during the month.
For reference, corporate deposits across Kazakhstan’s banking sector increased by 0.4% month-on-month to KZT 19.6 trillion, while retail deposits grew by 1.4% to KZT 28.6 trillion.
On an annual basis, corporate deposits expanded by 7%, while retail deposits rose by 15.5%.
License No. 1.2.100/245/41 issued by the Agency for Regulation and Development of the Financial Market on April 5, 2021.
Earlier, Qazinform News Agency reported that Bank RBK successfully issued Eurobonds in the amount of US$300 million.
