Kazakhstan's KMF bank secures a license, making it the 23rd bank in the country
KMF Bank: A Leading Second-Tier Bank in Kazakhstan
JSC "KMF Bank" is a significant player in Kazakhstan's financial sector, with roots tracing back to 1997 as a microfinance organization. Over the years, KMF has grown and transformed into a second-tier bank, recognised by the National Bank of Kazakhstan.
From Microfinance to Second-Tier Bank
KMF began as a microfinance company, providing financial services to underserved populations, particularly small entrepreneurs and individuals with limited access to traditional banking services. As it expanded and diversified, KMF was able to obtain a banking license, transforming into a second-tier bank.
Focus on SME Financing
KMF Bank has maintained a strategic focus on small and medium-sized enterprises (SMEs), recognising their crucial role in Kazakhstan’s economic development. The bank offers tailored loan products, leasing services, and other financial solutions to support business growth in sectors like trade, agriculture, manufacturing, and services.
Regional Expansion and Product Portfolio
KMF Bank has actively expanded its operations to cover multiple regions across Kazakhstan, with a particular emphasis on underserved areas where access to finance was traditionally limited. This expansion aligns with national development goals to stimulate regional economies. Today, KMF Bank’s product portfolio includes microloans, SME loans, consumer loans, leasing, and deposit products designed to meet the needs of various client segments.
Technology and Service Innovation
The bank has also adopted digital banking and innovative service models to improve accessibility and convenience for its clients.
Current Status
As of August 1, 2025, KMF's assets totaled 395 billion tenge. More than 90% of funds at KMF are directed towards financing small and medium-sized businesses. The Financial Market Regulation and Development Agency has issued a license to JSC "KMF Bank" to conduct banking operations. Over 70% of the bank's employees work in regions.
Servicing of individuals will become possible after joining the Mandatory Deposit Insurance System. KMF Bank prioritises MSME financing, including in rural areas, and expansion of banking services with a focus on blending traditional banking and digital solutions.
Notable Achievements
KMF Bank is considered one of the leading microfinance-origin banks in Kazakhstan, with a solid track record in supporting SME development and contributing to financial inclusion in regional markets. Incidentally, KMF Bank became the second new bank to receive a banking license in 2025, following JSC "Commercial Bank BiEK".
Projects supporting women entrepreneurs account for 55% of loans issued to real sector entities at KMF. Moreover, more than 180,000 people have been educated in financial and business literacy through KMF's social projects.
In summary, JSC "KMF Bank" has successfully transitioned from a microfinance entity into a fully licensed second-tier bank with a strategic emphasis on financing SMEs and expanding its footprint across Kazakhstan’s regions. Its role in promoting regional economic growth and financial inclusion remains central to its mission.
In its evolution from a microfinance organization to a second-tier bank, KMF Bank has maintained a significant presence within Kazakhstan's financial industry, particularly focusing on the banking-and-insurance sector.
The bank's strategic focus on small and medium-sized enterprises (SMEs) in various industries, such as trade, agriculture, manufacturing, and services, has contributed to the growth of these businesses and the overall development of the Kazakhstan economy.
