Last checked at 28 Dec 2023 11:02
Halyk Bank (Halyk) partially prepaid KZT40billion of historical state support funds received by Kazkommertsbank (KKB) in 2015
Halyk announces a KZT40billion partial prepayment of state support funds received by KKB in the form of a deposit from Kazakhstan Sustainability Fund JSC (KSF).
Previously, on 5th of June, 2023, Halyk prepaid part of the KSF deposit in the amount of KZT28.4billion. Thus, the total amount of funds returned to the state ahead of the schedule in 2023 amounted to KZT68.4billion.
Let us recall that state support funds in the form of a deposit for KZT250billion 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 transferred to the balance sheet of the merged bank.
The return of funds on the KSF deposit for KZT68.4billion was carried out ahead of the maturity, which is 2037, established by the agreement concluded between KKB and Problem Loans Fund JSC.
About Halyk Bank
Halyk Bank is Kazakhstan's leading financial services group, operating across a variety of segments, including retail, SME & 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 Astana International Exchange since October 2019.
With total assets of KZT 14,249.6bn as at September 30, 2023, Halyk Bank is Kazakhstan's leading lender. The Bank has the largest customer base and broadest branch network in Kazakhstan, with 571 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 - Stable);
· BBB: (Outlook - Stable)