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Kazakh Halyk Bank Net Profit Jumps by 58% in 2014

Tuesday 17 March 2015

ALMATY (Reuters) – Halyk Bank , Kazakhstan’s second-largest lender by assets, said on Tuesday its net profit jumped by 58% to 114.4 bln tenge ($617 mln) in 2014, above its own forecast of between 95 bln and 100 billion tenge.

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Halyk Group financial results presentation year 2014 (PDF)

Halyk, the Central Asian’s most profitable bank, said its assets grew by 12.1% last year, while net loans issued to customers rose by 11.2%.

Halyk Bank (KASE: HSBK) is a commercial savings bank in Kazakhstan that also has branches in Georgia. It is the legal successor of the Soviet-era Sberbank in Kazakhstan. In July 2014, Standard & Poor’s international rating agency upgraded the Bank’s long-term credit rating to BB+ from BB.

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