JSC Halyk Bank: Moody's Upgrades Halyk Bank to Baa2 from Baa3, outlook Stable

Moody's Upgrades Halyk Bank to Baa2 from Baa3, outlook Stable

On August 17, 2021, Moody's Investors Service ("Moody's") has upgraded Halyk Bank's long-term bank deposit ratings to Baa2 from Baa3, the outlook is Stable. The upgrade was driven by Moody's view of the increased government capacity to support the bank's depositors in case of need, which was reflected in the upgrade of the long-term issuer ratings of the Government of Kazakhstan to Baa2 from Baa3 on August 11, 2021.

Specifically, Moody's has upgraded Halyk Bank's bank deposit and Counterparty Risk Ratings (CRRs) to Baa2/P-2 from Baa3/P-3, Counterparty Risk Assessments (CR Assessment) to Baa2(cr)/P-2(cr) from Baa3(cr)/P-3(cr). All other Halyk Bank's ratings and assessments were affirmed. Following the upgrade, the outlook on the long-term bank deposit ratings was changed to stable from positive

***

About Halyk Bank

Halyk Bank is Kazakhstan's leading financial services group, operating across a variety of segments, including retail, SME & 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 Astana International Exchange since October 2019.

With total assets of KZT 10,389.6 bn as at 31 March 2021, Halyk Bank is Kazakhstan's leading lender. The Bank has the largest customer base and broadest branch network in Kazakhstan, with 600 branches and outlets across the country. The Bank operates in Georgia, Kyrgyzstan, Russia and Uzbekistan.

For more information on Halyk Bank, please visit https://www.halykbank.com

- ENDS-

For further information, please contact: