ASTANA, Kazakhstan, August 20. In the second quarter of 2025, Kazakhstan saw an increase in demand for all retail lending products, highlighted Dinara Tazetdinova, Director of the Financial Stability and Research Department of the National Bank of Kazakhstan, Trend reports via Kazakhstan’s National Bank.
As Dinara Tazetdinova notes in her commentary to the Kazakhstani National Bank, the increase in demand for mortgage loans in the reporting quarter was facilitated by the collection of applications for the state mortgage lending program and the launch of partnership programs subsidized by developers.
The total number of mortgage loan applications remained at the
same level quarter-on-quarter (QoQ), totaling 242,000, while the
average loan size increased by 5 percent to 17.4 million tenge
($33,060).
“Demand for consumer loans secured by collateral has increased. The
number of applications for this product rose by 2 percent QoQ to
52,000, and the average loan amount grew by 17 percent QoQ to 15
million tenge ($28,500),” the National Bank stated, citing
Tazetdinova.
Per the specialist's analysis, following an extended downturn in
the appetite for non-collateralized consumer credit, there was a
marginal uptick in demand for this financial instrument in the
second quarter of 2025. Nevertheless, a number of sizable and
mid-tier financial institutions have recalibrated the parameters
for unsecured lending, especially regarding the cost of capital,
which has resulted in a contraction of demand expansion within this
particular sector.
“The trajectory of auto loan demand is on an upward trend,
propelled by the initiation of collaborative frameworks between
select financial institutions and automotive retailers, which
provide partial loan subsidies, alongside the strategic
amplification of the partner ecosystem by various banking
entities.” The volume of automotive financing requests surged by 16
percent quarter-over-quarter, reaching 1.6 million applications,
whereas the mean loan disbursement contracted by 8 percent
quarter-over-quarter to 7.25 million tenge ($13,775),” the report
articulates.
Furthermore, there was a notable uptick in approval metrics for
mortgage instruments, escalating by 5 basis points (b.p.)
quarter-over-quarter (QoQ) to a total of 29 percent. Similarly,
secured consumer loan approvals surged by 9 b.p. to reach 45
percent, while unsecured loan authorizations experienced a marginal
increase of 1 b.p., culminating at 32 percent. Additionally, auto
loan approvals advanced by 4 b.p., achieving a rate of 19
percent.
During the third quarter of 2025, financial institutions anticipate
a marginal uptick in the appetite for collateralized consumer
lending and automotive financing solutions. Concurrently, there is
an expectation of a tempered contraction in the appetite for
mortgage financing and non-collateralized consumer credit
products.
