# Kazakhstan banking sector credit assessments

> Live situation record from CLSTR: https://clstr.news/situations/kazakhstan-banking-sector-credit-assessments
> Updated: 2026-09-09T05:09:03.000Z. Sources: 4. Developments: 2.

Credit rating agencies have issued updated assessments for major financial institutions and the broader banking sector in Kazakhstan. Moody’s Ratings affirmed the local and foreign currency issuer ratings for the government-owned Agrarian Credit Corporation (ACC) at Baa2/Prime-2 with a stable outlook, noting risks such as a weak-performing loan portfolio where problem loans and leases reached 23% as of June 2026.

S&P Global Ratings affirmed the 'BBB-/A-3' issuer credit ratings for Halyk Bank, revising its long-term global scale outlook to positive. The agency anticipates nonperforming loans will trend below 7% by 2027-2028 due to improved banking regulation and resilient macroeconomic prospects. 

Reflecting these developments, S&P Global Ratings improved the Kazakhstani banking industry risk score from 7 to 6 and shifted the country’s separate economic risk assessment trend from stable to positive, citing enhanced supervision and tighter capital and liquidity oversight. These shifts occurred alongside the Astana Finance Days 2026 forum, which hosted 8,000 participants and included discussions by the Islamic Finance Advisory Board regarding the expansion of the Islamic capital market.

## Claims

- The Astana International Financial Centre is hosting the 9th Astana Finance Days forum on September 9 and 10, 2026. (corroborated by 2 sources)
- S&P Global Ratings lowered the industry risk score for Kazakhstan’s banking system from 7 to 6. (single source)
- S&P changed the trend for Kazakhstan’s separate economic risk assessment from stable to positive. (single source)
- The improvement was attributed to tighter capital and liquidity oversight, stress testing, and regular asset-quality reviews. (single source)
- The Astana Finance Days forum attracted 8,000 participants from 90 countries. (single source)
- Major asset managers attending the forum, including BlackRock and Goldman Sachs, collectively manage over US$26 trillion in assets. (single source)
- The Islamic Finance Advisory Board discussed expanding the Islamic capital market and a concept for an Islamic Finance Centre of Excellence. (single source)

## Timeline

### 2026-09-09: Kazakhstan banking risk score improves amid Astana Finance Days forum

S&P Global Ratings improved Kazakhstan’s banking industry risk score to 6, while the Astana Finance Days 2026 forum brings together global asset managers overseeing US$26 trillion.

3 sources. https://clstr.news/cluster/kazakhstan-banking-risk-score-improves-amid-astana-finance-days-forum

### 2026-09-07: Kazakhstan financial institutions receive updated credit ratings

Moody’s affirmed ratings for Kazakhstan’s Agrarian Credit Corporation, while S&P Global Ratings revised Halyk Bank’s outlook to positive, citing resilient economic prospects in the region.

2 sources. https://clstr.news/cluster/kazakhstan-financial-institutions-receive-updated-credit-ratings

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Cite as: Kazakhstan banking sector credit assessments. CLSTR, https://clstr.news/situations/kazakhstan-banking-sector-credit-assessments