Press room

Halyk announces full early repayment of state support funds of KZT 250 billion received by Kazkommertsbank in the form of a deposit from Kazakhstan Sustainability Fund JSC (KSF) in 2015.

Earlier, in June and December 2023, Halyk repaid a part of the KSF deposit totaling KZT 68.4 billion. Today, the bank repaid outstanding state support funds of KZT 181.6 billion. Thus, as of now, Halyk has performed its obligations in full by repaying KZT 250 billion to the state ahead of the schedule.

In commenting on the repayment of state funds, Umut Shayakhmetova, head of Halyk, once again emphasized that the bank did not receive state support – financial support was provided to BTA and Kazkommertsbank as part of the rescue of these two financial institutions.

As a reminder, state support funds in the form of a deposit from Kazakhstan Sustainability Fund JSC in the amount of KZT 250 billion was received by Kazkommertsbank back in 2015. After the merger of Qazkom with Halyk in 2018, Halyk became the legal successor of the deposit, which was recognized by the merged bank.

“It was a proper scenario at that time: Kazkommertsbank was the largest bank in the system, and the state could not let it collapse. Halyk accomplished its mission by becoming a strategic investor. The market stabilized, and what is most important – depositors, both individuals, millions of them, and legal entities – were not affected”, – Umut Shayakhmetova noted.

CEO of Halyk also drew attention to the fact that KSF deposit funds of KZT 250 billion were repaid in full before maturity, which is 2037, as set forth by the agreement between Kazkommertsbank JSC and Problem Loan Fund JSC.

“The fact that Halyk returned state funds much earlier than the term specified in the agreement is a good signal for the financial market and investors, thus demonstrating the sustainability and stability of the backbone bank of Kazakhstan. High level of capitalization and profitability were highlighted by international rating agencies, which in late March confirmed the status of Halyk as a leader of the domestic banking system,” – the head of the bank added.

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).