Kazakhstan Markets Snapshot

As businesses consider potential funding sources in Kazakhstan, it's helpful to keep in mind the differences in relative sizes of the different markets and the funding pools.

In my visualization below I've attempted to take a snapshot of each market size as of 31 December 2024. Though this type of comparison may be akin to comparing apples and oranges, it serves as a quick proxy for the available funding in the country.

Note: KZT billions.
Sources: National Bank of Kazakhstan, KASE, AIX. AIX market capitalization of USD76.2 billion represented as the amount converted into KZT at the KZT/USD exchange rates as of 31 December 2024. The data for banking, microfinance, insurance and investment management sectors is as of 1 January 2025.