OCDE - Financing SMEs and Entrepreneurs 2026 - Kazajistán de 2026

Financing SMEs and Entrepreneurs 2026: Kazakhstan

PUBE 1

FINANCING SMES AND ENTREPRENEURS 2026: KAZAKHSTAN © OECD 2026

Key facts on SME financing In 2025, small and medium-sized enterprises accounted for 97.3% of all en terprises in Kazakhstan. The share of employed in SMEs was 48.6% of the total employed population. The share of small and mediumsized businesses in the country's GDP in 2025 was 40.9%. From 2014 to 2017, Kazakhstan saw an increase in lending to small and medium-si zed businesses. In 2017-2019, the loan portfolio of small and medium-sized businesses decreased. A nd in 2025, the loan portfolio of small and medium-sized businesses continued to grow and grew by 18.6%, while loans to small and medium-sized businesses (during this period) also increased by 7.9% over the past year. The interest rate on loans for small and medium-sized businesses fluctuated during the reporting period, gradually increasing from a record low of 11.5% in 2014 to 14.0% in 2016. In 2025 , the rate was 20.0%, while the rate on loans to large enterprises was 17.4%. This increase is due to an incr ease in the base rate by the National Bank of the Republic of Kazakhstan. Among non-bank sources of financing, leasing occupied the largest place in t he market and gradually increased. In 2025, the volume of leasing increased by 14% compared to 2024. The development of leasing and the growth of its indicators are due to several reasons. Firstly, many industrial, transport, and

Among non-bank sources of financing, leasing occupied the largest place in t he market and gradually increased. In 2025, the volume of leasing increased by 14% compared to 2024. The development of leasing and the growth of its indicators are due to several reasons. Firstly, many industrial, transport, and especially agricultural enterprises have a growing need to upgrade and expand their fleet of machinery and equipment. Secondly, due to the inability of a significant part of industrial enterprises to accumulate their own funds. Thirdly, due to the lack of collateral in many enterprises. In addit ion, to reduce the risk of loan non-repayment, banks are tightening loan issuance procedures. The procedure for making lease payments is one of the advantages of leasing transactions. The contract can opt imally take into account the interests of all parties to the transaction, since the amount and timing of pay ments are determined on the basis of a joint agreement. The share of overdue loans with a maturity of more than 90 days (NPL) in bank portfolios of business loans and loans for small and medium-sized businesses increased in 2025 from 2.8% to 3.4%. Commercial banks comply with the requirements of the National Bank of Kazakhstan regarding the maximum allowable level of problem loans, which should not exceed more than 10% of the loan portfolio. An important role in ensuring access to loans for small and medium-sized business es is played by the government, which places funds in commercial banks to provide preferential loans to small and mediumsized businesses during a period of liquidity shortage in the market. The largest amount of funds provided by the government for lending to small and medium-sized businesses occurred in 2018. The main part of the loans are funds allocated in 2014-2016 to support small and medium-sized busi nesses in the manufacturing industry at a rate of 6% per annum, which are issued by banks on a renewable basis. Since 2010, the state, with the help of the Damu Entrepreneurship Development Fund, has been providing subsidised interest rates and loan guarantees for small and medium-sized bus inesses under a single

manufacturing industry at a rate of 6% per annum, which are issued by banks on a renewable basis. Since 2010, the state, with the help of the Damu Entrepreneurship Development Fund, has been providing subsidised interest rates and loan guarantees for small and medium-sized bus inesses under a single comprehensive programme (previously the state programme "Business Roadmap 2025", the Nation al Entrepreneurship Development Project for 2021-2025). A new financial instrument, loan guarantees, gained popularity very quickly. At the same time, as of 01.01.2011, 3 surety agreements were concluded, whereas as of 01.01.2026, 76 919 agreements were concluded Kazakhstan2 

FINANCING SMES AND ENTREPRENEURS 2026: KAZAKHSTAN © OECD 2026

Table 1. Scoreboard for Kazakhstan Indicator Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Debt Outstanding business loans, SMEs KZT billion 1 508 1 571 1 708 1 389 1 341 1 412 1 283 1 788 2 060 3 105 2 789 2 364 2 109 2 515 3 772 6 530 7 796 9 343 Outstanding business loans, total KZT billion 5 220 5 605 5 879 5 892 6 849 7 534 8 110 8 533 9 027 9 234 8 568 8 348 7 771 7 742 8 857 11 599 13 118 15 281 Share of SME outstanding loans % of total outstanding business loans

Share of SME outstanding loans % of total outstanding business loans 28.89 28.02 29.06 23.58 19.58 18.74 15.83 20.95 22.83 33.62 32.55 28.32 27.14 32.49 42.59 56.30 59.43 61.14 New business lending, total KZT billion 7 764 5 373 3 742 3 291 4 795 5 774 6 109 8 044 7 345 7 724 7 615 9 412 9 720 9 757 12 345 13 072 15 972 18 922 New business lending, SMEs KZT billion 1 870 1 273 753 690 794 1 050 890 1 198 1 279 1 984 1 524 1 737 1 670 2 439 3 727 6 273 8 919 10 837 Share of new SME lending % of total new lending 24.08 23.70 20.13 20.97 16.57 18.18 14.56 14.90 17.41 25.68 20.02 18.46 17.18 25.00 30.19 47.99 55.85 57.27 Short-term loans, SMEs KZT billion 297 298 236 206 219 277 199 392 390 826 411 388 335 345 1 923 1 681 1 302 2 193 Long-term loans, SMEs KZT billion 1 212 1 273 1 472 1 183 1 122 1 135 1 084 1 395 1 670 2 279 2 377 1 976 1 774 1 780 1 804 4 849 6 493 7 150

Share of short-term SME lending % of total SME lending 19.7 19.0 13.8 14.8 16.3 19.6 15.5 22.0 18.9 26.6 14.8 16.4 15.9 13.7 51.0 25.7 16.7 23.5 Government loan guarantees, SMEs KZT billion 0.3 2.1 3.9 3.3 7.3 11.0 12.0 17.0 21.7 33.8 103.1 171.1 202.3 164.0 154.4 Government guaranteed loans, SMEs KZT billion 0.7 4.2 11.0 7.1 15.4 27.0 26.9 42.8 51.2 89.1 265.8 349.0 366.3 338.7 310.6 Direct government loans, SMEs KZT billion 5.5 125.2 257.4 132.9 82.7 78.2 85.8 188.4 236.9 247.3 230.5 272.9 239.5 207.6 213.3 184.0 197.9 253.6 Non-performing loans, total % of all business loans 29.80 31.15 23.55 7.95 6.72 9.31 7.38 8.13 7.55 3.30 3.40 2.89 3.05 Non-performing loans, SMEs % of all SME loans 22.33 22.40 11.74 12.69 8.79 9.58 9.33 14.58 11.90 4.40 3.90 3.20 2.80

Non-performing loans, SMEs % of all SME loans 22.33 22.40 11.74 12.69 8.79 9.58 9.33 14.58 11.90 4.40 3.90 3.20 2.80 Interest rate, SMEs % 14.28 15.67 14.01 13.34 12.49 12.10 12.46 11.48 12.95 14.01 13.66 12.71 12.66 12.72 12.92 10.20 12.60 20.04 Interest rate, large firms % 12.77 14.88 14.04 12.72 11.08 10.58 10.07 10.01 13.47 14.49 12.39 11.22 11.32 11.17 11.99 11.10 13.60 17.36 Interest rate spread Percentage points 1.51 0.79 -0.03 0.62 1.41 1.52 2.39 1.47 -0.52 -0.48 1.27 1.49 1.34 1.54 0.93 -0.90 -1.00 2.68 Non-bank finance Leasing and hire purchases KZT billion 60.4 80.1 84.5 106.8 129.0 126.6 167.0 176.5 277.6 347.4 479.3 491.6 653.8 593.7 701.8 Factoring and invoicing KZT billion 7.9 15.1 33.2 37.7 Other indicators Bankruptcies, total Number 0 2 3 8 36 77 125 143 257 516 1 978 3 493 3 129 2 763 3 028 3 029 3 325 2 559

Other indicators Bankruptcies, total Number 0 2 3 8 36 77 125 143 257 516 1 978 3 493 3 129 2 763 3 028 3 029 3 325 2 559 Bankruptcies, total (growth rate) %, Year-on-year growth rate 50 166.67 350 113.89 62.34 14.4 79.72 100.78 283.33 76.59 -10.42 -11.7 9.59 0.03 9.77 -23.04

Source: See Table 4. 3

FINANCING SMES AND ENTREPRENEURS 2026: KAZAKHSTAN © OECD 2026

SMEs in the national economy The different categories of enterprises are provided in the Code on Entrepreneurship of the Republi c of Kazakhstan and are based on the average annual number of employees and average annual revenues of companies (see Table 2). Table 2. Categorisation of firms in Kazakhstan Category Annual average number of employees Average annual income Micro 0-15 Up to MCI 30 thousand or KZT 118 million. Small 16-100 Up to MCI 300 thousand or KZT 1.17 billion. Medium 101-250 Up to MCI 3 million or KZT 11.79 billion. Large More than 250 More than MCI 3 million or KZT 11.79 billion.

Note: MCI (Monthly Calculated Index) is used to calculate pensions, benefits, fines, taxes, etc. in Kazakhstan.

Source: Code on Entrepreneurship of the Republic of Kazakhstan, Article 24.

SMEs make up 97.3% of all entities in Kazakhstan. As of the end of 2025, almost 2.4 million SMEs were registered in the country, including enterprises, individual entrepreneurs and farms. The major sectors of work among SMEs included wholesale and retail, services and agriculture.

SMEs make up 97.3% of all entities in Kazakhstan. As of the end of 2025, almost 2.4 million SMEs were registered in the country, including enterprises, individual entrepreneurs and farms. The major sectors of work among SMEs included wholesale and retail, services and agriculture. Table 3. Distribution of SMEs in Kazakhstan on 01.01.2026 Firm size Number Individual entrepreneurs and farms 1 880 246 Small 476 926 Medium 3 153 Total 2 360 325

Source: Agency for Strategic planning and reforms of the RK Bureau of National statistics As of the end of 2025, SMEs employed 4.5 million people in Kazakhstan, or 48 .6% of the total employed population in the country. SMEs produced a total output of KZT 104.8 trillion in 2025 and contributed 40.9% to the country’s GDP.

SME lending In 2025, new lending to SMEs (over the period) increased by 7.9% compared with last year, and the outstanding SME loans also increased by 18.6%. The share of SMEs in the portfolio of all business loans decreased from 57.3% to 52.5%. At the same time, the share of loans granted to SMEs in the total volume of business loans also increased by 17.8% in 2025. Significant improvements in the operating environment, new product offerings, and development of digital channels and ecosystems have increased the SME loan portfolio and its sha re of the total business loan portfolio.4 

FINANCING SMES AND ENTREPRENEURS 2026: KAZAKHSTAN © OECD 2026

Credit conditions The National Bank of Kazakhstan conducts a quarterly survey to Banks’ managers who are responsible for the implementation of the general monetary policy and (or) risk management. The purpose of the survey is to assess trends in supply and demand of loan resources and risk ma nagement systems.

Credit conditions The National Bank of Kazakhstan conducts a quarterly survey to Banks’ managers who are responsible for the implementation of the general monetary policy and (or) risk management. The purpose of the survey is to assess trends in supply and demand of loan resources and risk ma nagement systems. According to the results of the survey, in 2007-09, terms for SME lending by banks became tougher. This was generally expressed through higher interest rates and collateral requirements. In 2010-13, when the economy was expanding rapidly, the amount of deposits in Kazakhstan doubled, and banks softened the terms for lending to SMEs. Since 2014, as the local currency has been depreciating, banks have reverted to a tough loan policy again. This trend is also reflected in the interest rate data. In 2007-2009, interest rates for small and mediumsized businesses exceeded 14%. In 2010-2014, rates decreased, dropping to a mini mum of 11.5% in

2014. Since then, interest rates have been rising and exceeded 14% in 2016. In 2023, we see that the interest rate has decreased to 12.6%. In 2024, it became 20.04% Alternative sources of SME financing Bank loans are the main source of external financing for SMEs. Among alternative s ources of financing, other forms of debt financing prevail.

Since 2010, volumes of lease financing have increased steadily. In 2021, total leasing and hire purchases stood at KZT 491.6 billion, which is 2.6% more than in 2020. The microfinance market in Kazakhstan is developing well. In 2012, the legis lation “On Microfinance Organisations" was adopted, replacing the earlier “On Microcredit Organisations” law in Kazakhstan. This provided a strong growth impetus in the market. Microfinancial activity is now r egulated by the National Bank of Kazakhstan, which has already registered 2 13 microfinance organisations. As of the end 2025 , microfinance organisations provided over KZT 1 488 million in total microcredit for business purposes.

provided a strong growth impetus in the market. Microfinancial activity is now r egulated by the National Bank of Kazakhstan, which has already registered 2 13 microfinance organisations. As of the end 2025 , microfinance organisations provided over KZT 1 488 million in total microcredit for business purposes. Other indicators Until 2009, the maximum number of enterprises that overcame bankruptcy was 1 enterprise pe r year. In 2009, government measures to simplify the procedures for closing enterprises and reso lving bankruptcy reduced the duration of these processes from 3.3 years to 1.5 years. As a result, t he number of bankruptcies has increased from year to year over the past 10 years. In 2018, there was a maximum value of 3,493 bankruptcies. In 2025, there was a 135 decrease in the number of bankrup tcies compared to 2024, amounting to 2,171 bankruptcies. By the end of 2025, the share of loans with a debt of more than 90 days in bank portfolios increased compared to last year. The total volume of non-performing business loans decreased from 3.05% to 3.20%, while the volume of non-performing loans to SMEs increased from 2.8% to 3.4%. Thus, commercial banks, fulfilling the requirements of the National Bank of Kazakhstan regarding the maximum appropriate level of personal income, carry out high-quality work to reduce the volume of non-performing loans. Government policy response The government of Kazakhstan has been working to ensure a favourable business climate and engage more entrepreneurs to establish start-ups. To expand SMEs’ access to finance, a number of programmes are in place in the country to provide concessional lending, microfinance, subsidi sed interest rates, loan 5

FINANCING SMES AND ENTREPRENEURS 2026: KAZAKHSTAN © OECD 2026

guarantees and grants to start a business. The main operator of financial support programmemes for SMEs is the Damu Entrepreneurship Development Fund.

FINANCING SMES AND ENTREPRENEURS 2026: KAZAKHSTAN © OECD 2026

guarantees and grants to start a business. The main operator of financial support programmemes for SMEs is the Damu Entrepreneurship Development Fund. The Unified Comprehensive Programme (ETCP) has been in operation since 2024 and was adopted by the Ministry of National Economy of the Republic of Kazakhstan. The implementation of the programme includes both central and local authorities, the Damu Entrepreneurship Development Fund and commercial banks. The types of support the programme offers include interest rate subsidies, loan guarantees, grants, and meets the basic needs of entr epreneurs, making it the most popular government programme. Thus, in 2024, the following conditions were provided for under the programme: Subsidising the remuneration rate To date, the subsidy instrument provides state support to business entities in accordance with the following regulatory legal acts:

1. Rules for subsidising part of the remuneration rate, approved by Resolution of the G overnment of the Republic of Kazakhstan dated 12/30/2025 No. 1176 "On Approval of the Unified Pro gramme for Small Business Support "Isker Aimak" (hereinafter referred to as the EP Programme) (a subsidy tool with the Ministry of National Economy of the Republic of Kazakhstan);

2. Subsidy rules approved by Resolution of the Government of the Republic of Kazakhstan dated 09/17/2024 No. 754 "On certain measures of state support for private Entrepreneurship "

(hereinafter referred to as the Programme) (a subsidy tool with the Ministr y of National Economy of the Republic of Kazakhstan);

3. The Rules for Providing State support to Private Entrepreneurship to Subjects of Internal Trade, approved by the Order of the Minister of Trade and Integration of the Republic of Kazakhstan dated 06/21/2024 No. 262-NK "On Approval of the Rules for Providing State Support to Pr ivate Entrepreneurship to Subjects of Internal Trade" (hereinafter referred to as the CBT Program me)

approved by the Order of the Minister of Trade and Integration of the Republic of Kazakhstan dated 06/21/2024 No. 262-NK "On Approval of the Rules for Providing State Support to Pr ivate Entrepreneurship to Subjects of Internal Trade" (hereinafter referred to as the CBT Program me) (subsidy and guarantee instruments with the Ministry of Education and Science of the Republ ic of Kazakhstan);

4. Rules for subsidising interest rates on loans issued and leasing transactions made by second-tier banks, the Development Bank of Kazakhstan, and other legal entities engaged in leasing activities to foreign buyers of high-tech goods and services of Kazakhstani origin in the ma nufacturing industry, which are subject to insurance by the Export Credit Agency of Kazakhstan, taking into account accepted international obligations, approved by the order of the Deputy Prime Mi nisterMinister of Trade and Integration of the Republic of Kazakhstan dated 30.09.2022 No. 389NK

(hereinafter referred to as the Trade Finance Programme) (a subsidy tool w ith the Ministry of Education and Science of the Republic of Kazakhstan). As of the end of 2025, 120,701 subsidy agreements were signed for a total amount of loans of 9,096 billion tenge. The amount of subsidies paid amounted to 280 billion tenge. Loan guarantee Guarantees are also provided with different conditions depending on the target segment: • for SME projects within the framework of Guarantee Fund 1, the maximum guarantee amount is up to 85% of the financing amount, but not more than 3.5 billion tenge. The maximu m amount of financing is up to 7 billion tenge. The guarantee period is the financing peri od extended by 5 months. The cost of the guarantee is 1.5% of the guarantee amount, which is paid by the entrepreneur at a time and annually from the remaining amount of the guarantee issued.;6 

FINANCING SMES AND ENTREPRENEURS 2026: KAZAKHSTAN © OECD 2026

entrepreneur at a time and annually from the remaining amount of the guarantee issued.;6 

FINANCING SMES AND ENTREPRENEURS 2026: KAZAKHSTAN © OECD 2026

• for large infrastructure projects under Guarantee Fund 2, the maximum guarantee amount is up to 30% of the project cost. The amount of financing is over 7 billion tenge. The warranty per iod is up to 20 years. The cost of the guarantee is 1.5% of the guarantee amount, which is paid by the entrepreneur at a time for the entire term of the guarantee.; • for subjects of the agro-industrial complex for the implementation of investment pr ojects, the maximum guarantee amount is up to 50% of the loan amount, while for priority projects before the project is put into operation - up to 85% of the loan amount, but not more than 2,550 billion teng e, after the project is put into operation and the entrepreneur submits it as collateral to the lender, the amount of Guarantees are reduced to 50% of the loan amount, but not more than 1.5 billion tenge.

The maximum loan amount is not more than 5 billion tenge. The term of the guarantee is not more than the term of the loan. The loan term is no more than 10 years. The cost per guarantee is 0.01% of the sum of the guarantee at a time; • for subjects of the agro-industrial complex for spring field and harvesting operations, the maximum guarantee amount is 85% of the loan amount, but not more than 1.275 billion tenge. The maximum loan amount is not more than 1.5 billion tenge. The guarantee period is the loan term extended by 4 months. The loan term is no more than 18 months. The cost per guarantee is 0.01% of t he sum of the guarantee at a time; Credit guarantees are rapidly becoming popular in the financial market of Kazakhstan as a new product.

4 months. The loan term is no more than 18 months. The cost per guarantee is 0.01% of t he sum of the guarantee at a time; Credit guarantees are rapidly becoming popular in the financial market of Kazakhstan as a new product. The number of signed guarantee contracts increased from 3 in 2010 to 76 919 by the b eginning of 2025, the amount of guarantees amounted to 1 621 billion tenge on loans in the amount of 3 097 billion tenge. Financing of SMEs in the manufacturing industry under the Nurly Zhol programme an d joint action plans of the Government and the National Bank of the Republic of Kazakhstan The Government of Kazakhstan allocated funds in the amount of 200,000 million tenge in 2014-15 to support SMEs in the manufacturing industry through commercial banks. Thus, SMEs can receive loans at a rate of 6% in the amount of up to 1 850 million tenge for a period of up to 10 years. As of the end of 2025, 2 228 projects totaling 1 336 billion tenge were supported. Programmes of the Damu Entrepreneurship Development Fund The Damu Entrepreneurship Development Fund implements a number of its own programmes, which are funded by the company's own capital or by attracting funds from local authorities and international financial organisations. Within the framework of regional programmes, loans are provided with a ma ximum rate of up to 8.5%. The industry is determined depending on the specifics of the eco nomy of each region. Under international programmes, loans are granted on market terms and without restrictions by sector. As part of its own programmes, the Damu Entrepreneurship Development Fund and its partner organisations (banks, leasing companies, microfinance organisations) have financed mor e than 66,808 projects totaling 1 200 billion tenge as of the end of 2025. In 2017, the Damu Entrepreneurship Development Fund, together with other government organi sations, began operating the Enbek Employment and Mass Entrepreneurship Development Progra mme for 2017projects totaling 1 200 billion tenge as of the end of 2025. In 2017, the Damu Entrepreneurship Development Fund, together with other government organi sations, began operating the Enbek Employment and Mass Entrepreneurship Development Progra mme for 20172021. The Damu Entrepreneurship Development Fund is responsible for providing preferential loans at a rate of up to 6% per year for urban entrepreneurs. As of the end of 2025, 4 917 projects in urban areas were supported for a total amount of loans of 74 937million tenge. In 2017, the Damu Foundation also raised USD 5 million in UNDP funds to sti mulate investment in urban energy-efficient projects. These funds are used to provide subsidies and loan guarantees for SMEs. By the end of 2025, 81 subsidy agreements were signed for a total amount of loans of 6 631 millio n tenge. 7

FINANCING SMES AND ENTREPRENEURS 2026: KAZAKHSTAN © OECD 2026

Figure 1. Trends in SME and Entrepreneurship Finance in Kazakhstan

0 2000000 4000000 6000000 8000000 10000000 12000000 14000000 16000000 18000000

A. SME loans and total business loans Annual, in KZT million Business loans, SMEs Business loans, total

0 5 10 15 20 25 30 35

B. Non-performing loans Annual, as a percentage Non-performing loans, total Non-performing loans, SMEs

0 100000 200000 300000 400000 500000 600000 700000 800000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

E. Leasing and hire purchases Annual, in KZT million Leasing and hire purchases

0 500 1 000 1 500 2 000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

E. Leasing and hire purchases Annual, in KZT million Leasing and hire purchases

0 500 1 000 1 500 2 000 2 500 3 000 3 500

F. SME bankruptcies Annual, number

SME Bankruptcies 0 50000 100000 150000 200000 250000 300000 350000 400000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

D. SME government guarantees and guaranteed loans Annual, in KZT million Government loan guarantees, SMEs Government guaranteed loans, SMEs

• 5

0 5 10 15 20 25

C. Interest rates and interest rate spread, Annual, in percent Interest rate spread Interest rate, SMEs Interest rate, large firms8 

FINANCING SMES AND ENTREPRENEURS 2026: KAZAKHSTAN © OECD 2026

Table 4. Sources and definitions of the Kazakhstan’s Scoreboard Indicator Definition Source Debt Outstanding business loans, SMEs Portfolio of SME loans, as of the year-end National bank of RK Outstanding business loans, total Portfolio of total business loans, as of the year-end National bank of RK, estimation New business lending, SMEs Amount of new loans for SMEs provided during a year National bank of RK New business lending, total Amount of new business loans provided during a year National bank of RK, estimation Short-term loans, SMEs Portfolio of SME short-term loans, as of the year-end National bank of RK Long-term loans, SMEs Portfolio of SME long-term loans, as of the year-end National bank of RK State loan guarantees, SMEs Amount of new loan guarantees provided by State during a year Damu Fund

Short-term loans, SMEs Portfolio of SME short-term loans, as of the year-end National bank of RK Long-term loans, SMEs Portfolio of SME long-term loans, as of the year-end National bank of RK State loan guarantees, SMEs Amount of new loan guarantees provided by State during a year Damu Fund State guaranteed loans, SMEs Amount of new loans guaranteed by State during a year Damu Fund Direct State loans, SMEs Amount of new loans for SMEs under State support programmes provided during a year Damu Fund Interest rate, SMEs Weighted average interest rate on new SME loans provided during a year National bank of RK Interest rate, business loans total Weighted average interest rate on new business loans provided during a year National bank of RK, estimation Non-performing loans, total Non-performing loans out of total bank loans, as of the yearend National bank of RK Non-performing loans, SMEs Non-performing SME loans out of total SME loans, as of the year-end National bank of RK Non-bank finance Leasing and hire purchases Amount leasing contracts signed during a year Committee on statistics of Ministry of national economy of RK Factoring and invoice discounting Amount of accounts receivable resold to factors during a year Expert RA Kazakhstan Rating agency Other indicators Bankruptcies, total Number of enterprises declared bankrupt during a year State revenue committee of Ministry of finance of RK

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