Abu Dhabi Commercial Bank to open subsidiary in Kazakhstan

ASTANA. March 26 (Interfax) - Kazakhstan's Agency for Regulation and Development of the Financial Market has cleared Abu Dhabi Commercial Bank (ADCB) to establish a subsidiary in the country, the regulator said.

The new bank, JSC Abu Dhabi Commercial Bank (Kazakhstan, will be fully owned by the parent bank, which will provide capitalization, strategic management and operational support.

The regulator said the move is part of Kazakhstan's strategy to boost competition in the banking sector and follows the liberalization of local banking legislation.

"ADCB is one of the largest banks in the United Arab Emirates. Its main shareholder, Mubadala Investment Company PJSC, is fully owned by the government of Abu Dhabi, providing strong institutional backing and reliability," the agency said.

The bank holds A+/F1/Stable ratings from Fitch Ratings. At the end of 2025, ADCB reported assets of over $210 billion, capital of $24 billion, and net profit exceeding $3 billion.

ADCB (Kazakhstan) plans to offer a full suite of services, including Islamic financing through an Islamic window, with a universal banking license expected after infrastructure preparations are complete.