Question 1

What is Bank CenterCredit?

Accepted Answer

Bank CenterCredit is one of the largest universal banks in Kazakhstan, ranking among the top three financial institutions in the country by assets and retail deposits. The bank serves over 3 million individual and corporate clients across all regions of Kazakhstan through an extensive network of 21 branches and more than 150 outlets.

The bank provides a comprehensive range of high-tech financial services to both retail and business customers, with a particular focus on innovation and convenience. Bank CenterCredit holds a banking license (No.1.2.25/195/34) issued by the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan (ARDFM RK).

Question 2

When was Bank CenterCredit founded?

Accepted Answer

Bank CenterCredit was established on September 19, 1988, making it one of the pioneering banks in Kazakhstan's modern financial system. The bank was originally founded on the basis of the Almaty Central Cooperative Bank and was among the first wave of cooperative banks to emerge from the former Soviet system.

The name "CenterCredit" was chosen symbolically, with "credit" derived from the Latin word for "trust," reflecting the bank's mission to become a center of trust and financial support for Kazakhstan's citizens during a transformative period in the country's history. The bank received License No. 4 from the State Bank of the USSR in its founding year.

In 1998, Bank CenterCredit underwent a significant merger with CJSC Zhilstroybank, a larger state housing development bank. This merger temporarily created challenges with loan quality and operational efficiency, but the bank successfully overcame these obstacles and was reregistered as JSC Bank CenterCredit in 2004. More recently, in 2023, the bank completed the acquisition and merger with Eco Centre Bank (formerly Alfa-Bank Kazakhstan), further strengthening its market position.

Question 3

Where is Bank CenterCredit headquartered?

Accepted Answer

Bank CenterCredit is headquartered in Almaty, Kazakhstan, at 38 Al-Farabi Avenue. The bank also maintains significant operations in Astana (the capital city) and has a representative office that was opened in Moscow in 2005.

Additionally, in 2023, Bank CenterCredit obtained a license to carry out regulated activities through a branch in the Astana International Financial Centre (AIFC), Kazakhstan's financial hub designed to connect global capital with emerging markets.

Question 4

Where does Bank CenterCredit operate?

Accepted Answer

Bank CenterCredit operates throughout all regions of Kazakhstan with a comprehensive national footprint. The bank's network includes 21 branches and over 150 outlets serving customers in major cities and regions including Almaty, Astana, Shymkent, Taraz, Karaganda, Pavlodar, Aktobe, Atyrau, Aktau, Uralsk, Kokshetau, Petropavlovsk, Kostanay, Semey, Ust-Kamenogorsk, Taldykorgan, Zhezkazgan, Kyzylorda, and Turkestan.

The bank's infrastructure also includes 776 ATMs, 273 Interactive Payment Terminals (IPT), and over 18,000 POS terminals across the country. In 2023, Bank CenterCredit made a strategic expansion by opening its first branch in the Khorgos International Center for Cross-Border Cooperation, facilitating trade and business between Kazakhstan and China.

Question 5

What services does Bank CenterCredit offer?

Accepted Answer

Bank CenterCredit offers a full range of universal banking services across retail, corporate, and investment banking segments:

Retail Banking: The bank is a market leader in retail lending, holding the #1 position among commercial second-tier banks in mortgage lending with a 57% market share, #1 in auto lending with 25% market share, and #1 in secured lending with 50% market share. Products include savings accounts, deposits, consumer loans, car loans, mortgages (including government-supported programs like "7-20-25" and "Baspana Hit"), credit and debit cards, and payment services.

Corporate and SME Banking: Bank CenterCredit actively participates in nearly all state programs supporting entrepreneurship and has been recognized as the Best SME Bank in Kazakhstan. The bank provides business loans, working capital financing, trade finance facilities, and corporate accounts. It works closely with institutions like the Damu Entrepreneurship Development Fund, Asian Development Bank (ADB), and European Bank for Reconstruction and Development (EBRD).

Digital Services: The bank operates the bcc.kz mobile app with over 1 million downloads, offering online account opening, digital loans up to 7 million tenge, currency exchange, gold and silver trading, stock investments, payment services, and digital wallet functionality. The bank was one of the first in Kazakhstan to launch Apple Pay (2018) and Google Pay contactless payments.

Investment and Wealth Management: Through its subsidiary BCC Invest JSC, the bank provides securities brokerage, asset management, and pension fund management services. Customers can invest in stocks and other financial instruments through the mobile app.

Specialized Services: The bank offers custodian services, insurance products through its subsidiary Sinoasia B&R Insurance JSC, international money transfers through SWIFT, Western Union, and Zolotaya Korona, and cryptocurrency platform integration with Bybit Kazakhstan and ATAIX Eurasia.

Question 6

What makes Bank CenterCredit unique?

Accepted Answer

Several distinctive features set Bank CenterCredit apart in Kazakhstan's banking sector:

Digital Innovation Leadership: Bank CenterCredit has consistently been a first-mover in digital banking. The bank was the first in Kazakhstan to complete the PCI DSS Compliance audit (2017), launch dynamic CVV-code functionality for enhanced security, implement transfers to UnionPay International cards, and integrate with licensed cryptocurrency platforms. In partnership with Visa and the National Payment Corporation of Kazakhstan, the bank successfully completed pilot testing of financial transactions using digital tenge, positioning itself at the forefront of central bank digital currency (CBDC) adoption.

Mortgage Market Dominance: With a commanding 57% market share in mortgage lending among commercial banks, Bank CenterCredit is the clear leader in helping Kazakhs become homeowners. The bank launched innovative products including mortgages without down payment and was the first to issue mortgage loans with lump-sum pension payments.

Sustainability and ESG Commitment: In 2023, Bank CenterCredit became the first bank in Kazakhstan to join the UN Global Compact, demonstrating its commitment to corporate social responsibility and sustainable development. The bank was also the first financial institution in Kazakhstan to purchase International Renewable Energy Certificates (I-REC) on the Astana International Exchange, increasing its green energy consumption to 16% and reducing greenhouse gas emissions by over 25%. The bank received an award for the best ESG report in the financial sector.

Strong International Partnerships: Bank CenterCredit has established significant relationships with international development institutions including EBRD, ADB, and the Eurasian Development Bank, which provide funding for SME development, women in business programs, and trade finance. The bank has been a member of the SWIFT Alliance since 1993 and maintains correspondent relationships with major international banks.

Regional and Cross-Border Expansion: The 2023 opening of a branch in the Khorgos International Center for Cross-Border Cooperation represents a strategic positioning for Kazakhstan-China trade flows, while the AIFC branch provides access to international capital markets.

Question 7

What type of financial institution is Bank CenterCredit?

Accepted Answer

Bank CenterCredit is a universal commercial bank (also known as a second-tier bank in Kazakhstan's banking classification system). Universal banks in Kazakhstan provide a full spectrum of banking services including retail banking, corporate and investment banking, wealth management, and custodian services.

As a universal bank, Bank CenterCredit serves multiple customer segments—individuals, small and medium-sized enterprises, large corporations, and institutional clients—while also maintaining specialized subsidiaries for investment banking (BCC Invest JSC) and insurance services (Sinoasia B&R Insurance JSC). The bank is structured as a joint-stock company (JSC) and is publicly listed, with its shares traded on financial markets. With over 3 million customers and ranking as the third-largest bank in Kazakhstan by assets and retail deposits, Bank CenterCredit operates as a systemically important financial institution in the country's banking sector.

Question 8

What are Bank CenterCredit's credit ratings?

Accepted Answer

Bank CenterCredit maintains investment-grade equivalent ratings from major international rating agencies. As of 2024, S&P Global Ratings affirmed the bank's long-term and short-term issuer credit ratings at BB-/B with a Positive outlook, and a Kazakhstan national scale rating of kzA.

Moody's Investors Service upgraded the bank's long-term deposit ratings from B2 to B1 with a Stable outlook in 2021, and subsequently upgraded ratings to Ba2 with a Positive outlook in 2024. These ratings reflect the bank's strengthened capitalization, solid financial performance, improved asset quality, and high systemic importance in Kazakhstan's financial system.

The positive outlooks indicate potential for further upgrades if industry risks in Kazakhstan continue to ease and the bank maintains its strong capital buffers and asset quality metrics.

Question 9

How does Bank CenterCredit support women's entrepreneurship?

Accepted Answer

Bank CenterCredit has established itself as a champion of women's entrepreneurship in Kazakhstan through dedicated programs and financing facilities. In 2015, the bank concluded a loan agreement with the European Bank for Reconstruction and Development (EBRD) to attract two tranches totaling 3,720 million tenge for the Women in Business programme, with loan proceeds specifically dedicated to financing women-led businesses.

In 2018, the bank received an additional $45 million loan from EBRD, with over 60% of proceeds used to finance SMEs in regional centers outside of Astana and Almaty, including substantial support for women entrepreneurs. The bank launched the Business-Aru project, a comprehensive initiative specifically designed to support women's entrepreneurship through accessible financing, mentoring, and business development resources.

These efforts demonstrate Bank CenterCredit's commitment to promoting gender equality in business and economic empowerment, aligning with both national development priorities and international sustainable development goals.

Bank CenterCredit

in Kazakhstan 🇰🇿

Crypto-Friendliness

All done!

About Bank CenterCredit in Kazakhstan

Bank Center­Credit