Preparation continues in Kazakhstan for the launch of Abu Dhabi Commercial Bank (Kazakhstan) JSC. Representatives from Abu Dhabi Commercial Bank PJSC (ADCB) and the management of the Agency for Regulation and Development of the Financial Market (ARDFM) discussed the next stages of establishing the bank and matters related to obtaining a licence.
WHAT THE PARTIES DISCUSSED
The Chairperson of the Agency for Regulation and Development of the Financial Market (ARDFM), Madina Abylkassymova, held a meeting with representatives of Abu Dhabi Commercial Bank PJSC (ADCB), one of the largest banks in the United Arab Emirates (UAE).
The parties discussed organisational and regulatory issues related to the establishment and launch of Abu Dhabi Commercial Bank (Kazakhstan) JSC, as well as obtaining a banking licence in accordance with the legislation of the Republic of Kazakhstan.
WHAT IS KNOWN ABOUT THE BANK
Previously, the ARDFM had granted Abu Dhabi Commercial Bank PJSC (ADCB) permissions to open a subsidiary bank, acquire the status of a banking holding company in relation to the financial organisation being created, and establish a subsidiary company.
Abu Dhabi Commercial Bank (Kazakhstan) JSC was registered with the judicial authorities on 20 April 2026.
HOW THE BANK IS REPRESENTED IN KAZAKHSTAN
Currently, the banking sector of Kazakhstan includes 23 banks, of which 10 are subsidiaries. ADCB Islamic Bank JSC, which is a subsidiary of Abu Dhabi Commercial Bank PJSC (ADCB), also operates in the country.
As of 1 April 2026, the Islamic bank ranked 21st in terms of assets, 20th in terms of deposits, and 16th in terms of the loan portfolio among 23 second-tier banks.
For the 2025 financial year, the bank's financial result amounted to 6.3 billion tenge. The ARDFM noted that the bank's activities are characterised by a high level of capitalisation and compliance with all prudential regulations.
WHAT POSITION DOES ADCB HOLD IN THE UAE
Abu Dhabi Commercial Bank PJSC (ADCB) is among the largest banks in the UAE. The majority shareholder of the financial organisation is the sovereign investment fund Mubadala Investment Company, which is wholly owned by the Government of Abu Dhabi.
The bank holds international credit ratings of S&P 'A+' and Fitch 'A+', and as of 1 April 2026, it ranked third among 56 UAE banks by asset size.
WHAT THIS MEANS FOR THE FINANCIAL MARKET
The ARDFM noted that the opening of the new bank will help promote competition in Kazakhstan's banking sector, expand the range of financial services for businesses and the public, and attract international banking capital.
It was additionally reported that the new bank intends to develop Islamic finance through the 'Islamic window' mechanism, which, according to the Agency's assessment, will broaden the availability of alternative financial instruments in the country's financial market.