A New Bank to Appear in Kazakhstan

The new bank plans to offer a full range of banking services, as well as develop Islamic finance through an “Islamic window” mechanism

The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market has granted permission to Abu Dhabi Commercial Bank PJSC to establish a subsidiary bank in Kazakhstan, Kazinform reports.

According to the Agency, the entry of a new foreign bank aligns with the Head of State’s directive to increase competition in the banking sector and is the result of reforms carried out by the Agency to liberalize banking legislation and create an open, transparent, and competitive environment for attracting reliable foreign banks to Kazakhstan.

ADCB is one of the largest banks in the United Arab Emirates. Its main shareholder is the investment company Mubadala Investment Company PJSC, which is wholly owned by the Government of Abu Dhabi, ensuring a high level of institutional support and reliability.

The bank holds high international credit ratings (A+/F1/Stable by Fitch Ratings). As of December 31, 2025, ADCB’s total assets exceeded USD 210 billion, its equity surpassed USD 24 billion, and its net profit for the year amounted to over USD 3 billion. These financial indicators demonstrate strong financial stability and the bank’s ability to provide long-term support to its subsidiary.

ADCB will act as the sole shareholder of the subsidiary bank. The parent bank will ensure the formation of authorized capital, as well as provide strategic management and financial and operational support in accordance with the legislation of the Republic of Kazakhstan.

The new bank plans to offer a full range of banking services and develop Islamic finance through an “Islamic window,” which will expand the product line and increase the availability of alternative financial instruments in the market. Obtaining a universal banking license in accordance with the requirements of the new Law “On Banks and Banking Activities in the Republic of Kazakhstan” is expected after the creation of internal infrastructure and completion of all preparatory work required to launch banking operations.

Based on the submitted application and document package, the Agency issued Resolution No. 8 dated March 20, 2026, granting ADCB permission to establish a subsidiary bank — Abu Dhabi Commercial Bank (Kazakhstan) Joint Stock Company. The Agency also granted consent for the bank to obtain the status of a banking holding company (Resolution No. 9 dated March 20, 2026) and permission to establish a subsidiary organization (Resolution No. 10 dated March 20, 2026).

The opening of the new bank is expected to promote competition in Kazakhstan’s banking sector, expand the range of financial services available to businesses and the public, and attract international banking capital, the Agency noted.

Photo: gov.kz.

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