Loans to Customers

12 Months Ended

Dec. 31, 2025

Loans to customers [abstract]

Loans to Customers

12.Loans to customers

	2024			2025
Gross loans to customers		6,042,443			7,543,926
Less: allowance for impairment losses (Note 7)		(295,843	)		(371,764	)
Total loans to customers		5,746,600			7,172,162

All loans to customers issued by the Group were allocated to the Fintech segment for internal segment reporting purposes.

The Group did not provide loans which individually exceeded 10% of the Group’s equity.

Movements in allowances for impairment losses on loans to customers for the years ended 31 December 2023, 2024, and 2025 are disclosed in Note 7.

As at 31 December 2024 and 2025, accrued interest of KZT 68,558 million and KZT 106,348 million, respectively, was included in loans to customers.

Loans with principal or accrued interest in arrears for more than 90 days are classified as non-performing loans (“NPL”). These loans were classified in Stage 3. Allowance for impairment losses to NPLs reflects the Group’s total provision as a percentage of NPL’s. Considering the ratio represents allowance for impairment losses for all loans as a percentage of NPLs, the ratio can be more than 100%.

The following table sets forth the Group’s outstanding NPLs as compared to the total allowance for impairment losses on total loans to customers:

	Gross NPLs		Total allowance for impairment losses		Total allowance for impairment losses to Gross NPLs
As at 31 December 2024		327,730		295,843		90	%
As at 31 December 2025		466,845		371,764		80	%

Provision expenses on loans to customers:

	2023			2024			2025
Provision expenses on loans to customers		(76,888	)		(110,293	)		(158,408	)

The gross carrying amount and related allowance for impairment losses on loans to customers by stage were as follows:

	Stage 1			Stage 2			Stage 3
	12-month ECL			Lifetime ECL			Lifetime ECL			POCI			Total
Gross loans to customers		5,447,804			86,251			485,252			23,136			6,042,443
Less: allowance for impairment losses		(77,521	)		(22,378	)		(193,759	)		(2,185	)		(295,843	)
Carrying amount as at    31 December 2024		5,370,283			63,873			291,493			20,951			5,746,600

	Stage 1			Stage 2			Stage 3
	12-month ECL			Lifetime ECL			Lifetime ECL			POCI			Total
Gross loans to customers		6,691,163			129,800			703,082			19,881			7,543,926
Less: allowance for impairment losses		(74,162	)		(26,061	)		(270,058	)		(1,483	)		(371,764	)
Carrying amount as at    31 December 2025		6,617,001			103,739			433,024			18,398			7,172,162

During the years ended 31 December 2024 and 2025, the Group has restructured loans to customers, which were classified as NPL, in the amount of KZT 137,728 million and KZT 185,388 million, respectively, by providing an interest free extended repayment schedule.

During the years ended 31 December 2024 and 2025, KZT 58,615 million and KZT 103,119 million of restructured loans were collected, respectively.

As at 31 December 2024 and 2025, the Group’s restructured loans in Stage 3 amounted to the gross carrying amount of KZT 94,556 million and KZT 145,302 million, respectively.

As at 31 December 2024 and 2025, the Group’s restructured loans in Stage 2 amounted to the gross carrying amount of KZT 18,009 million and KZT 26,505 million, respectively.

As at 31 December 2024 and 2025, the Group’s restructured loans in Stage 1 amounted to the gross carrying amount of KZT 15,364 million and KZT 27,653 million, respectively.

As at 31 December 2024 and 2025, the Group recognized restructured loans as POCI loans with gross carrying amount of KZT 23,136 million and KZT 19,881 million, respectively.