Last checked at 8 Apr 2024 13:19
8 April, 2024
Halyk Bank (Halyk) fully prepaid KZT 250 billion of historical state support funds received by Kazkommertsbank (KKB) in 2015
Halyk announces KZT 250 billion full prepayment of state support funds received by KKB in the form of a deposit from Kazakhstan Sustainability Fund JSC (KSF).
Earlier, in June and December 2023, Halyk prepaid a part of the KSF deposit of KZT 68.4 billion, and on 8 April 2024, Halyk prepaid the outstanding KSF deposit of KZT 181.6 billion. Thus, the total amount of funds returned to the state ahead of the schedule in 2023 and 2024 amounted to KZT 250 billion.
As a reminder, state support funds in the form of a deposit of KZT 250 billion was received by KKB back in 2015. After the merger of KKB with Halyk in 2018, Halyk became the legal successor of the deposit, and the amount of state support funds was transferred to the balance sheet of the the merged bank.
The KSF deposit funds of KZT 250 billion were repaid ahead of the maturity, which is 2037, as set forth by the agreement between KKB and Problem Loan Fund JSC.
Halyk Bank is Kazakhstan's leading financial services group, operating across a variety of segments, including retail, SME and corporate banking, insurance, leasing, brokerage, and asset management. Halyk Bank has been listed on the Kazakhstan Stock Exchange since 1998, on the London Stock Exchange since 2006, and on Astana International Exchange since October 2019.
With total assets of KZT 15,494.4 billion as of 31 December 2023, Halyk Bank is Kazakhstan's leading lender. The Bank has the largest customer base and broadest branch network in Kazakhstan, with 570 branches and outlets across the country. The Bank also operates in Georgia, Kyrgyzstan, and Uzbekistan.
Currently, international rating agencies highly evaluate the reliability and stability of the Bank:
- Moody's Investors Service: Baa2 (Outlook - Positive);
- Standard and Poor`s: BB+ (Outlook - Positive);
- Fitch Ratings: BBB- (Outlook - Stable).