Press room

19 December 2019, Tbilisi, - Fitch Ratings upgraded its long-term issuer default rating (IDR) on JSC Halyk Bank Georgia from “BB-“ to “BB”, the outlook is positive. The JSC Halyk Bank Georgia rating upgrade follows the revision of the rating on the parent company Halyk Bank (JSC Halyk Bank) - “BB+” / Positive outlook. According to Fitch, the Halyk Bank Georgia IDR and support rating are due to potential support from Halyk Bank. “The fact that JSC Halyk Bank Georgia’s rating even upgrades while Fitch downgrades the ratings on largest players in the banking sector of Georgia, reaffirms the stability of the financial institution,” CEO of Halyk Bank Georgia Nikoloz Geguchadze commented on the Fitch Ratings decision. *** JSC Halyk Bank Georgia is a universal commercial bank providing a wide range of products and services to corporate and retail customers. JSC Halyk Bank Georgia is a principal member of the Visa international payment system and an associate member of the Master Card payment system. As of 1 October 2019, the assets of JSC Halyk Bank Georgia amounted to - GEL* (Georgian lari) 529.6 million, loan portfolio (gross) - 408.6 million, equity - 119.8 million. Halyk Bank (JSC Halyk Bank) is a leading financial group and a leading retail bank in Kazakhstan with the largest customer base and distribution network. The Bank provides a wide range of services (banking insurance, leasing, brokerage and asset management services) to its retail, SME and corporate customers. The Bank also operates in Russia, Georgia, Kyrgyzstan, Tajikistan and Uzbekistan. ____________________________________________ *As of 1 October 2019: 1 USD – 2.9770 GEL