Retail deposits across Kazakhstan’s banks grew 8.3% to top 30.5 trillion tenge between January and August 2026, with the entire increase driven by local-currency funds.
Tenge deposits climbed 12.2% to 24.7 trillion tenge, while foreign currency deposits contracted by 5.6% to 5.9 trillion tenge. The dollarization share of the retail deposit base slipped from 22% at the start of the year to 19.2%.
Demand deposits remain the largest product category at 14.0 trillion tenge, or nearly half the retail base, but stable funding—comprising term and savings deposits—is gaining ground, rising from 15.6% in the first quarter of 2025 to 30.9% in the second quarter of 2026.
Accounts holding over 20 million tenge represent 45% of all household funds. The weighted average rate on new retail deposits in tenge dipped by 0.7 percentage points to 14.6%, against a 1.75-percentage-point cut in the base rate down to 16.25%.