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 the Republic of Kazakhstan.

The entry of a new foreign bank is in line with the instruction of the Head of State, Kassym-Jomart Tokayev, to enhance competition in the banking sector and reflects the outcomes of the Agency’s reforms aimed at liberalising banking legislation and creating an open, transparent, and competitive environment to attract reputable foreign banks to Kazakhstan.

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

The bank holds strong international credit ratings (A+/F1/Stable by Fitch Ratings). As of 31 December 2025, ADCB’s total assets exceeded USD 210 billion, equity amounted to over USD 24 billion, and net profit for the year exceeded USD 3 billion. These financial indicators demonstrate the bank’s strong financial position and its capacity 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 the authorised capital, as well as provide strategic, financial, and operational support in accordance with the legislation of the Republic of Kazakhstan.

The new bank intends to offer a full range of banking services and to develop Islamic finance through an “Islamic window”, which will expand the range of products and increase the availability of alternative financial instruments in the market. A universal banking licence, in accordance with the new Law “On Banks and Banking Activities in the Republic of Kazakhstan”, is expected to be obtained following the establishment of internal infrastructure and completion of all preparatory activities for the launch of operations.

Based on the submitted application and supporting documentation, the Agency, by Resolution of the Board No. 8 dated 20 March 2026, granted ADCB permission to establish a subsidiary bank — Joint Stock Company “Abu Dhabi Commercial Bank (Kazakhstan)”, as well as consent for the newly established bank to acquire the status of a banking holding company (Resolution No. 9 dated 20 March 2026) and permission to establish a subsidiary organisation (Resolution No.10 dated 20 March 2026).

The establishment of the new bank will contribute to increased competition in the banking sector of the Republic of Kazakhstan, expansion of financial services for businesses and the public, and attraction of international banking capital.

External Communications Directorate

press@finreg.kz

Source : https://www.gov.kz/memleket/entities/ardfm/press/news/details/1187342?lang=kk