JSC Halyk Bank  / Miscellaneous

16.07.2014 13:47

Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS, LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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PRESS RELEASE

Standard & Poor's Ratings Services upgraded ratings of JSC 'Halyk Bank'
16 July 2014

On 16 July 2014, the international rating agency Standard & Poor's Ratings Services (hereinafter - Standard & Poor's) announced the upgrade of Long-Term Counterparty Credit Rating (hereinafter - CCR) of JSC 'Halyk Bank' (hereinafter the 'Bank' or 'Halyk Bank') to 'BB+' from 'BB'. Standard & Poor's affirmed the 'B' Short-Term CCR. The Outlook on the Bank's ratings is Stable.

The upgrade of Halyk Banks's Long-Term CCR to 'BB+' reflects Standard & Poor's view 'that Halyk's competitive position has strengthened over the past four years, leading us to revise our assessment of the bank's business position to strong from adequate'. Standard & Poor's pointed out Halyk Bank's relatively unscathed emergence from the severe crisis in 2007-2008, superior business position in the Kazakhstan banking sector, operating the only universal banking model in Kazakhstan, above-peer profitability, lower funding sensitivity, and lower concentrations in the lending book.
The Bank's upgraded ratings are one of the highest among Kazakhstan banks and confirm Halyk Bank having the leading position in the market and being the strongest domestic financial institution.

Halyk Bank was assigned 'kzAA-' Kazakhstan national scale rating.
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JSC Halyk Bank is the leading financial services group and the leading retail bank in Kazakhstan with the largest customer base and the broadest branch network. The Bank holds the first place in net income among second tier banks of Kazakhstan. The Bank is developing as a universal financial services group rendering a wide range of services (banking services, insurance, leasing, brokerage services) to its retail, SME and corporate clients. The Bank also operates in Russia, Georgia and Kyrgyzstan.



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Language:           English
Company:            JSC Halyk Bank
                    109V, Abay ave
                    050008 Almaty
                    Kazakhstan
Phone:              +7 727 259 04 27
Fax:                +7 727 259 04 64
E-mail:             halykteam@halykbank.kz
Internet:           http://halykbank.kz
ISIN:               US46627J3023
Category Code:      MSC
TIDM:               
Sequence Number:    2124
Time of Receipt:    Jul 16, 2014 13:46:52
 
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