Risk Management Policy (Tables)

12 Months Ended

Dec. 31, 2025

Disclosure of detailed information about financial instruments [line items]

Significant Changes in Gross Carrying Amount of Loans to Customers

The tables below present information about the significant changes in the gross carrying amount of loans to customers during the period that contributed to changes in the allowance for impairment losses during the years ended 31 December 2024 and 2025:

	Stage 1			Stage 2			Stage 3
	12-month ECL			Lifetime ECL			Lifetime ECL			POCI			Total
Loans to customers at amortized cost
Gross carrying amount as at 1 January 2024		4,048,478			55,804			363,703			10,504			4,478,489
Changes in the gross carrying amount
- Transfer to Stage 1		65,305			(13,657	)		(51,648	)		—			—
- Transfer to Stage 2		(76,678	)		102,681			(26,003	)		—			—
- Transfer to Stage 3		(266,377	)		(24,694	)		291,071			—			—
New loans to customers originated or    purchased		4,507,341			—			—			21,310			4,528,651
Loans to customers that have been repaid or    derecognized		(2,830,265	)		(33,883	)		(18,736	)		(8,678	)		(2,891,562	)
Write-offs		—			—			(89,272	)		—			(89,272	)
Recovery from off-balance loans to customers		—			—			16,137			—			16,137
Gross carrying amount as at 31 December    2024		5,447,804			86,251			485,252			23,136			6,042,443

	Stage 1			Stage 2			Stage 3
	12-month ECL			Lifetime ECL			Lifetime ECL			POCI			Total
Loans to customers at amortized cost
Gross carrying amount as at 1 January 2025		5,447,804			86,251			485,252			23,136			6,042,443
Changes in the gross carrying amount
- Transfer to Stage 1		78,937			(17,388	)		(61,549	)		—			—
- Transfer to Stage 2		(118,983	)		153,117			(34,134	)		—			—
- Transfer to Stage 3		(378,113	)		(55,316	)		433,429			—			—
New loans to customers originated or purchased		5,348,309			—			—			(1,934	)		5,346,375
Loans to customers that have been repaid or    derecognized		(3,719,369	)		(41,284	)		(24,301	)		(1,321	)		(3,786,275	)
Write-offs		—			—			(118,895	)		—			(118,895	)
On acquisition of subsidiary		32,578			4,420			4,944			—			41,942
Recovery from off-balance loans to customers		—			—			18,336			—			18,336
Gross carrying amount as at 31 December    2025		6,691,163			129,800			703,082			19,881			7,543,926

Summary of External Credit Ratings

Financial assets, other than loans to customers and other financial assets, are graded according to their external credit ratings issued by an international rating agencies, such as Standard and Poor’s, Fitch and Moody’s Investors Services. The highest possible rating is AAA.

	A- and higher		BBB+ to BBB-		BB+ to B-		CCC+ and lower		Not  rated		Total
Gross carrying value
31 December 2024
Cash and cash equivalents, excluding    cash on hand		203,364		210,591		1,077		273		7,247		422,552
Mandatory cash balances with NBRK		—		57,307		—		—		—		57,307
Due from banks		36,457		1,328		—		—		130		37,915
Investment securities and derivatives		48,687		1,378,268		4,957		—		75,620		1,507,532
31 December 2025
Cash and cash equivalents, excluding    cash on hand		137,756		445,137		133,683		—		5,203		721,779
Mandatory cash balances with NBRK		—		305,126		—		—		—		305,126
Due from banks		41,946		962		2,420		—		6,631		51,959
Investment securities and derivatives		243,712		867,317		24,039		—		43,012		1,178,080

Summary of financial assets and liabilities liquidity and interest rate risks

An analysis of the financial assets and liabilities liquidity and interest rate risks is presented in the following table on discounted basis:

	Up to 1 month			1 month to 3 months			3 months to 1 year			1 year to 5 years		Over 5 years		2024 Total
Cash and cash equivalents		388,707			6			—			—		—		388,713
Due from banks		2,267			2,315			33,016			310		—		37,908
Investment securities		153,419			81,250			358,229			627,589		268,718		1,489,205
Loans to customers		485,611			728,514			2,242,972			2,039,044		250,459		5,746,600
Total interest bearing financial assets		1,030,004			812,085			2,634,217			2,666,943		519,177		7,662,426
Cash and cash equivalents		230,757			—			—			—		—		230,757
Mandatory cash balances with    National Bank of the Republic of    Kazakhstan		57,307			—			—			—		—		57,307
Derivative financial assets		1,011			2,340			7,126			6,672		—		17,149
Investment securities		417			—			—			—		60		477
Other financial assets		29,793			—			—			—		—		29,793
Total non-interest bearing financial    assets		319,285			2,340			7,126			6,672		60		335,483
Total financial assets		1,349,289			814,425			2,641,343			2,673,615		519,237		7,997,909
Due to banks		24,474			—			—			—		—		24,474
Customer accounts		672,334			970,692			3,738,339			46,994		5,776		5,434,135
Debt securities issued		51,050			—			—			—		—		51,050
Subordinated debt		3,300			—			59,116			—		—		62,416
Total interest bearing financial    liabilities		751,158			970,692			3,797,455			46,994		5,776		5,572,075
Customer accounts		1,127,815			—			—			—		—		1,127,815
Trade liabilities		—			22,454			—			—		—		22,454
Derivative financial liabilities		133			129			—			—		—		262
Other financial liabilities		18,992			—			—			—		—		18,992
Total non-interest bearing financial    liabilities		1,146,940			22,583			—			—		—		1,169,523
Total financial liabilities		1,898,098			993,275			3,797,455			46,994		5,776		6,741,598
Guarantees issued and similar    commitments		250			32			423			5,251		—		5,956
Total financial liabilities and    commitments		1,898,348			993,307			3,797,878			52,245		5,776		6,747,554
Liquidity surplus/(gap)		(549,059	)		(178,882	)		(1,156,535	)		2,621,370		513,461
Cumulative liquidity surplus/(gap)		(549,059	)		(727,941	)		(1,884,476	)		736,894		1,250,355
Interest sensitivity surplus/(gap)		278,846			(158,607	)		(1,163,238	)		2,619,949		513,401
Cumulative interest sensitivity    surplus/(gap)		278,846			120,239			(1,042,999	)		1,576,950		2,090,351

	Up to 1 month			1 month to 3 months			3 months to 1 year			1 year to 5 years		Over 5 years		2025 Total
Cash and cash equivalents		706,448			—			—			—		—		706,448
Due from banks		2,135			1,930			47,886			—		—		51,951
Investment securities		54,601			270,644			177,690			500,541		151,325		1,154,801
Loans to customers		882,217			919,753			2,705,255			2,662,182		2,755		7,172,162
Total interest bearing financial assets		1,645,401			1,192,327			2,930,831			3,162,723		154,080		9,085,362
Cash and cash equivalents		196,695			—			—			—		—		196,695
Mandatory cash balances with    National Bank of the Republic of    Kazakhstan		305,126			—			—			—		—		305,126
Derivative financial assets		22,378			2,073			6			—		80		24,537
Investment securities		418			—			—			—		63		481
Other financial assets		57,019			40,406			—			—		—		97,425
Total non-interest bearing financial    assets		581,636			42,479			6			—		143		624,264
Total financial assets		2,227,037			1,234,806			2,930,837			3,162,723		154,223		9,709,626
Due to banks		15,712			471			—			—		—		16,183
Customer accounts		1,496,544			1,414,973			3,379,009			37,009		5,776		6,333,311
Debt securities issued		—			—			5,420			326,572		—		331,992
Total interest bearing financial    liabilities		1,512,256			1,415,444			3,384,429			363,581		5,776		6,681,486
Customer accounts		1,197,975			—			—			—		—		1,197,975
Trade liabilities		255,758			84,530			6,113			—		—		346,401
Derivative financial liabilities		1,010			1,747			4,302			—		—		7,059
Other financial liabilities		39,485			373			4,773			9,224		—		53,855
Total non-interest bearing financial    liabilities		1,494,228			86,650			15,188			9,224		—		1,605,290
Total financial liabilities		3,006,484			1,502,094			3,399,617			372,805		5,776		8,286,776
Guarantees issued and similar    commitments		—			218			—			5,055		—		5,273
Total financial liabilities and    commitments		3,006,484			1,502,312			3,399,617			377,860		5,776		8,292,049
Liquidity surplus/(gap)		(779,447	)		(267,506	)		(468,780	)		2,784,863		148,447
Cumulative liquidity surplus/(gap)		(779,447	)		(1,046,953	)		(1,515,733	)		1,269,130		1,417,577
Interest sensitivity surplus/(gap)		133,145			(223,117	)		(453,598	)		2,799,142		148,304
Cumulative interest sensitivity    surplus/(gap)		133,145			(89,972	)		(543,570	)		2,255,572		2,403,876

Schedule of Foreign Currency Exchange Rate Risk

The Group’s exposure to foreign currency exchange rate risk is presented in the table below:

	Tenge			USD USD 1 = KZT 525.11			EUR EUR 1 = KZT 546.74			Other currency			2024 Total
Non-derivative financial assets
Total non-derivative financial    assets		7,552,496			388,027			25,336			14,899			7,980,758
Non-derivative financial    liabilities
Total non-derivative financial    liabilities		6,153,015			579,664			6,247			2,673			6,741,599
NET POSITION ON NON-    DERIVATIVE FINANCIAL    INSTRUMENTS		1,399,481			(191,637	)		19,089			12,226
Derivative financial instruments
Accounts payable on spot and    derivative contracts		(251,281	)		(95,760	)		(59,595	)		(2,709	)		(409,345	)
Accounts receivable on spot and    derivative contracts		69,674			316,929			43,192			1,340			431,135
NET POSITION ON DERIVATIVE    FINANCIAL INSTRUMENTS		(181,607	)		221,169			(16,403	)		(1,369	)		21,790
NET POSITION		1,217,874			29,532			2,686			10,857

	Tenge			USD USD 1 = KZT 505.53			EUR EUR 1 = KZT 593.44			TRY TRY 1= KZT 11.80			Other currency			2025 Total
Non-derivative financial assets
Total non-derivative financial assets		8,883,016			563,151			20,214			199,829			18,883			9,685,093
Non-derivative financial    liabilities
Total non-derivative financial    liabilities		7,060,636			903,121			9,884			310,435			2,861			8,286,937
NET POSITION ON NON-    DERIVATIVE FINANCIAL    INSTRUMENTS		1,822,380			(339,970	)		10,330			(110,606	)		16,022
Derivative financial    instruments
Accounts payable on spot and    derivative contracts		(299,866	)		(21,304	)		(70,085	)		—			(63,232	)		(454,487	)
Accounts receivable on spot and    derivative contracts		17,418			316,357			62,938			537			61,127			458,377
NET POSITION ON DERIVATIVE    FINANCIAL INSTRUMENTS		(282,448	)		295,053			(7,147	)		537			(2,105	)		3,890
NET POSITION		1,539,932			(44,917	)		3,183			(110,069	)		13,917

Total for all internal credit grades [member]

Disclosure of detailed information about financial instruments [line items]

Schedule of Internal Rating Model to Classify Individually Significant Loans to Customers in Different Risk Categories

The Group uses an internal rating model to classify individually significant loans to customers in different risk categories:

	Stage 1			Stage 2			Stage 3
	12-month ECL			Lifetime ECL			Lifetime ECL			POCI			Total
Loans to customers that are individually    assessed for impairment
Grades: Low to fair risk		5,120			—			—			—			5,120
Grade: Impaired		—			—			5,260			—			5,260
Loans to customers that are collectively    assessed for impairment		5,442,684			86,251			479,992			23,136			6,032,063
Total gross carrying amount		5,447,804			86,251			485,252			23,136			6,042,443
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
Loans to customers that are individually    assessed for impairment
Grades: Low to fair risk		4,172			—			—			—			4,172
Grade: Impaired		—			—			4,428			—			4,428
Loans to customers that are collectively    assessed for impairment		6,686,991			129,800			698,654			19,881			7,535,326
Total gross carrying amount		6,691,163			129,800			703,082			19,881			7,543,926
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

	Stage 1			Stage 2		Stage 3
	12-month ECL			Lifetime ECL		Lifetime ECL		Total
Due from banks
High grade (A- and higher)		36,464			—		—		36,464
Investment grade (BBB+ - BBB-)		1,328			—		—		1,328
Investment grade (BB+ - B-)		123			—		—		123
Total gross carrying amount		37,915			—		—		37,915
Allowance for impairment losses		(7	)		—		—		(7	)
Carrying amount as at 31 December 2024		37,908			—		—		37,908

	Stage 1			Stage 2		Stage 3
	12-month ECL			Lifetime ECL		Lifetime ECL		Total
Due from banks
High grade (A- and higher)		49,946			—		—		49,946
Investment grade (BBB+ - BBB-)		962			—		—		962
Not rated		1,051			—		—		1,051
Total gross carrying amount		51,959			—		—		51,959
Allowance for impairment losses		(8	)		—		—		(8	)
Carrying amount as at 31 December 2025		51,951			—		—		51,951

	Stage 1		Stage 2		Stage 3
	12-month ECL		Lifetime ECL		Lifetime ECL		Total
Investment debt securities
High grade (A- and higher)		36,415		—		—		36,415
Investment grade (BBB+ - BBB-)		1,373,391		—		—		1,373,391
Non-Investment grade (BB+ - B-)		4,957		—		—		4,957
Not rated		70,614		567		3,261		74,442
Сarrying amount as at 31 December 2024		1,485,377		567		3,261		1,489,205

	Stage 1		Stage 2		Stage 3
	12-month ECL		Lifetime ECL		Lifetime ECL		Total
Investment debt securities
High grade (A- and higher)		243,391		—		—		243,391
Investment grade (BBB+ - BBB-)		867,166		—		—		867,166
Non-Investment grade (BB+ - B-)		2,395		—		—		2,395
Not rated		37,624		3,663		561		41,848
Сarrying amount as at 31 December 2025		1,150,576		3,663		561		1,154,800

Loans to Customers

Disclosure of detailed information about financial instruments [line items]

Significant Changes in Gross Carrying Amount of Loans to Customers

The following tables refer to modified loans to customers where modification does not result in derecognition.

Loans to customers (with allowance for impairment losses based on lifetime ECL) modified during the years ended 31 December 2024 and 2025:

	2024			2025
Gross carrying amount of loans to customers that are impaired    after modification but not NPL as at 1 January		68,029			80,012
Gross carrying amount of modified loans to customers within period		157,179			201,556
Loans to customers transferred to non impaired category (cured loans)		(92,276	)		(121,395	)
Loans to customers transferred to NPL		(33,178	)		(46,539	)
Repaid loans to customers		(19,742	)		(43,644	)
Gross carrying amount of loans to customers that are impaired    after modification but not NPL as at 31 December		80,012			69,990