8 April, 2024
Halyk Bank (Halyk) fully prepaid KZT 250 billion of historical
state support funds received by Kazkommertsbank (KKB) in
2015
Halyk announces KZT 250 billion full
prepayment of state support funds received by KKB in the form of a
deposit from Kazakhstan Sustainability Fund JSC (KSF).
Earlier, in June and December 2023,
Halyk prepaid a part of the KSF deposit of KZT 68.4 billion, and on
8 April 2024, Halyk prepaid the outstanding KSF deposit of KZT
181.6 billion. Thus, the total amount of funds returned to the
state ahead of the schedule in 2023 and 2024 amounted to KZT 250
billion.
As a reminder, state support funds
in the form of a deposit of KZT 250 billion 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 was transferred to the balance sheet of the the
merged bank.
The KSF deposit funds of KZT 250
billion were repaid ahead of the maturity, which is 2037, as set
forth by the agreement between KKB and Problem Loan Fund
JSC.
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).