State Aid Paid Off in Full by Central Credit Bank
Bank CenterCredit Repays Subordinated Bond, Demonstrates Strong Financial Performance and Digital Commitment
Bank CenterCredit, a leading financial institution in Kazakhstan, has made headlines with its early repayment of a 30 billion tenge subordinated bond issue. This move underscores the bank's robust financial health and its ongoing investments in digital transformation.
In the second quarter of 2025, Bank CenterCredit reported a net interest income of KZT 104,475 million, marking a significant increase from KZT 87,687 million a year earlier. Net income for the same period reached KZT 64,427 million.
The bank has also been at the forefront of digital innovation. It became the first in Kazakhstan to enable card-to-card transfers via UnionPay International, facilitating cross-border payments to China and other countries through its mobile app. This move reflects the bank's commitment to enhancing digital banking services.
Bank CenterCredit is leveraging digital technologies to expand its payment services, aligning with the broader national trend of increasing electronic banking and card transactions. As of July 2025, Kazakhstan saw over 88 million internet and mobile phone banking transactions, with transaction amounts exceeding 1.185 trillion tenge.
The bank's subsidiary, BCC Invest JSC, has also undergone management adjustments, possibly supporting strategic shifts related to investment and digital growth initiatives.
The early repayment of the bond suggests strong liquidity and confidence in the bank’s financial health, supporting ongoing investments in digital transformation and service expansion. However, the tenge currency's historic lows in mid-2025 may pose macroeconomic challenges.
Bank CenterCredit received one of the smallest amounts of state support among systemic banks, amounting to 60 billion tenge with an initial repayment date of November 2032. The repayment decision did not specify the reason for the early repayment. The repaid funds were part of a program to enhance the financial stability of the banking sector in the Republic of Kazakhstan.
Ruslan Vladimirov, President of AO "Bank CenterCredit", commented on the repayment, stating that a reliable reputation is built on fulfilling commitments and fair partnerships. The bank made the decision to repay the funds early after a comprehensive assessment of financial indicators, the impact on ratings, and changes in tax legislation regarding VAT and CIT.
Bank CenterCredit repaid 30 billion tenge of its subordinated bond issue on August 11, 2021. The bank will continue to focus on digitalizing services for clients while integrating AI into its processes and products. The entire amount of the repaid subordinated bond issue by Bank CenterCredit was repaid in three stages: 20 billion tenge in December 2024, 10 billion tenge in April 2025, and 30 billion tenge in August 2025.
The bank did not disclose any information about the source of the funds used for the repayment. Bank CenterCredit had previously stated its intention to repay the funds early. The funds were received by Bank CenterCredit in 2017 with a maturity date of 2032. The state provided support and trust to Bank CenterCredit.
- Bank CenterCredit's early repayment of a 30 billion tenge subordinated bond shows its strong commitment to both finance and business, demonstrating a consistent focus on maintaining its financial health while promoting digital growth.
- With its focus on digitalizing services and integrating AI into processes and products, Bank CenterCredit is synthesizing finance, business, and technology, positioning itself as a trailblazer in the digital banking sector.
