Fitch Ratings upgraded ratings of JSC "Halyk Bank"

PRESS RELEASE

Fitch Ratings upgraded ratings of JSC "Halyk Bank"

24 January 2013

On 23 January 2013, the international rating agency Fitch Ratings (hereinafter - Fitch) announced the upgrade of Long-Term Issuer Default Ratings (hereinafter - IDRs) of JSC "Halyk Bank" (hereinafter the "Bank" or "Halyk Bank") to 'BB' from 'BB-' and removed the ratings from Rating Watch Evolving (RWE). The Outlook on the Bank's ratings is Stable.

The upgrade of Halyk Banks's Long-Term IDRs to 'BB' reflects Fitch's view "of the Bank's strong nationwide franchise, solid profitability and capitalisation, comfortable liquidity position and limited refinancing risks".

The Bank's new ratings are one of the highest among Kazakhstan banks and confirm Halyk Bank's leading position in the market.

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JSC Halyk Bank is the leading financial services group and the leading retail bank in Kazakhstan with the largest customer base and the broadest branch network. The Bank holds the first place in net income among second tier banks of Kazakhstan. The Bank is developing as a universal financial services group rendering a wide range of services (banking services, insurance, leasing, brokerage services and asset management) to its retail, SME and corporate clients. The Bank also operates in Russia, Georgia and Kyrgyzstan.