PremiumFitch affirms Halyk Bank’s stability, highlighting Kazakhstan’s financial resilience

ASTANA, Kazakhstan, September 22. The international rating agency Fitch Ratings has confirmed Halyk Bank's long-term rating in foreign and national currency at the level of "BBB-" with a "Stable" outlook, Trend reports via Fitch Ratings.

According to information, Halyk Bank's high market share in Kazakhstan’s banking sector, consistently strong profitability indicators, significant capitalization, and stable liquidity are key factors supporting the rating. According to the Agency’s comments, the "Stable" outlook reflects the assessment that Halyk Bank's credit metrics will remain strong in the medium term.

Fitch Ratings emphasizes Halyk Bank’s reliable business model with strong market positions in both corporate and retail businesses, and a balanced loan portfolio, noting that the Bank's asset quality has significantly improved over the past five years. The Agency also expects the Bank to maintain high profitability in 2025-2026 due to a consistently strong margin, high operational efficiency, and low risk costs.

Halyk Bank is a leading financial group in Kazakhstan operating across various segments, including retail, SME and corporate banking services, insurance, leasing, brokerage services, asset management, and lifestyle services. Halyk Bank has been listed on the Kazakhstan Stock Exchange since 1998, on the London Stock Exchange since 2006, and on the Astana International Exchange since 2019.

The Bank's total assets as of June 30, 2025, amounted to approximately 19.616 billion tenge (approximately $35.3 million), making it the largest lender in Kazakhstan. The bank has one of the largest customer bases in the country and the most extensive branch network, consisting of 542 branches and offices throughout the country. In addition, the bank operates in Georgia and Uzbekistan.