Eurasian Bank demonstrated strong capital and asset growth in 2024
30 May 2025, Almaty
The capital of Eurasian Bank increased by 31%, the amount of which amounted to 399 billion tenge by the end of 2024. The Bank assets increased by 16% during this period, exceeding the target of 3 trillion tenge, and amounted to 3.1 trillion tenge, with a profit of 82.7 billion tenge.
The financial results of Eurasian Bank JSC Group have been published in consolidated financial statements prepared in accordance with IFRS standards and confirmed by an international auditor’s report.
The Bank’s unconsolidated profit for 2024 in the amount of 84.9 billion tenge was capitalized into retained earnings of previous years by the decision of the shareholders. It was resolved not to pay dividends on ordinary shares of Eurasian Bank JSC.
“2024 was an important milestone for us: we continued to increase the Bank capitalization, strengthening its sustainability. The influx of funds into accounts and deposits demonstrated the high level of trust of our customers. It was an anniversary year for the Bank, and we focused on the quality of the customer experience and implemented a number of social and cultural initiatives. We thank our customers and partners for their long-term cooperation and are confident that our sustainability will continue to work for the benefit of society,” said Lyazzat Satiyeva, CEO of Eurasian Bank.
In September 2024, the Moody’s Investors Service international rating agency upgraded the long-term deposit rating of Eurasian Bank to Ba2 from Ba3, as well as its baseline credit rating to Ba3 from b1 with a stable outlook, noting the Bank’s efficient work to reduce non-performing assets and the ability to generate profits.
Key indicators of the consolidated financial statements:
The assets of Eurasian Bank Group increased by 16% in 2024 to 3.1 trillion tenge from 2.7 trillion tenge in 2023, including due to the growth of the Bank’s loan portfolio.
The expansion of lending in the 12 months of 2024 increased by 9% to 1.48 trillion tenge from 1.36 trillion tenge.
A 7% increase in funds on deposits and customer accounts was up to 2.288 trillion tenge from 2.144 trillion tenge, which the Bank regards as a high degree of customer confidence.
An increase in the Bank equity by 31% to 398.8 billion tenge due to the investment of retained earnings from previous years.
The equity capital adequacy ratio is 27.7% with a standard of 10.5%, one of the best indicators on the market, which allows for continued active growth.
ADDITIONAL INFORMATION*
Market shares
In 2024, the Bank confidently maintained its position on key financial indicators:
assets — with a share of 5.1% (7th place)
loan portfolio — with a share of 4.5% (6th place)
capital — with a share of 4.6% (7th place)
customer funds — with a share of 5.3% (6th place)
individual deposits — with a share of 4.9% (5th place)
deposits of legal entities — with a share of 5.9% (4th place)
RETAIL BUSINESS
The Bank holds the leadership — No. 1 with a combined market share of 23.6% — in lending to new and used cars, with significant increased competition in this segment.
The focus on digitalization, the improvement of the customer path and the expansion of the product line allowed us to increase:
— customer funds by 19%;
— the volume of the loan portfolio increased by 6%.
The Bank is in the top 5 banks that have exceeded 1 trillion tenge in deposits from individuals (5th in terms of deposits, with an increase in absolute terms of + 137 billion tenge per year).
CORPORATE BUSINESS
Loans issued to corporate customers increased by 12% or 55 billion tenge in 2024.
Customer funds increased by 1.5% or 16 billion tenge and amounted to 1,077.2 billion tenge. The portfolio of documentary operations increased by 6.7% or 3 billion tenge and amounted to 48.1 billion tenge.
The Bank’s acquiring turnover increased by 249% in 2024 and amounted to 503 billion tenge.
The Bank efficiently worked to improve and develop the Smart Business app. It also launched premium corporate Visa Signature for Business cards and implemented tokenization of all business cards (adding cards to electronic wallets).
INFORMATION TECHNOLOGY DEVELOPMENT
During 2024, Eurasian Bank continued its active work on the development of Smart Business and Smartbank mobile apps.
In 2024, the Smart Business app, a key tool for small, medium and large businesses, was completely redesigned with a large-scale refactoring aimed at improving stability and productivity. The Bank also updated the user interface, strengthened security measures and implemented several services.
In order to optimize the customer experience and increase the availability of government services, we implemented 35 integrations with government information systems in 2024. This made it possible to significantly expand the Public Services section in the Smartbank mobile app and bring it closer in functionality to the solutions of leading market players.
*The information is based on data from the NBRK and the Bank’s internal analytics.