Press room
Euromoney ranks Halyk as the best bank in Kazakhstan
The 18th day of July saw the Euromoney Awards for Excellence ceremony in London. Halyk was recognized as the winner in the Best Bank in Kazakhstan category.
As analysts of the publication note, Halyk stands out for not only its market-leading growth rate and the highest net profit, but also for the development of its banking business, which ensured its victory in the category “Outstanding Achievement in the Country”.
“By the end of December 2023, the bank's net profit was up 22% year-on-year. The profit growth was mainly driven by a 7.6% increase in total assets, with lending up 18%. These figures formed the basis of the bank's average return on equity of 32.5% last year, surpassing the 28.1% return on equity of the entire banking sector in Kazakhstan” - said analysts of Euromoney. “The bank recorded impressive growth in activity on its main digital platforms, with the average monthly active users of Halyk app increasing by 46% through 2023 and the volume of payments and transfers growing by 48% to KZT 11.7 trillion”.
The publication added, “Sustainable financing is another key area in which Halyk has achieved impressive results. Following the “green lending” policy, the bank has financed projects in areas such as the electric vehicle production, waste oil recovery, and the reconstruction and expansion of the water supply system. The total amount of “green loans” was KZT 191 billion”.
“It is highly valuable for the bank's team that we have been honored by the respected publication Euromoney for the second decade. The current award is particularly significant for us, as it reflects a high recognition of the bank's performance in a challenging geopolitical environment. We are not only maintaining our positions and demonstrating growth across all key indicators, but we are also the leader in Kazakhstan's banking sector. Undoubtedly, this requires continuous improvement of all business processes and consistent efforts to implement innovative solutions. Therefore, we are pleased that our efforts have been duly recognized by the international financial community”, said CEO of Halyk, Umut Shayakhmetova
The Euromoney Awards for Excellence are now in their 33rd year and are one of the most prestigious awards in the global financial industry. The magazine's experts analyze financial indicators and evaluate key strategic initiatives of the participating banks. According to analysts, profitability is crucial, but so is the ability to demonstrate growth, relative performance against competitors and the ability to adapt to changing market conditions and customer needs.