13th Dec 2011 09:44
PRESS RELEASE
Standard & Poor's upgraded ratings of JSC "Halyk Bank"
On 12 December 2011, the international rating agency Standard & Poor's (hereinafter - S&P) announced the upgrade of long-term issuer credit rating of JSC "Halyk Bank" (hereinafter - the Bank or Halyk) to 'BB' from 'B+'. The short-term issuer credit rating was affirmed at 'B'. The outlook on the Bank's ratings remains stable.
Halyk's stand-alone credit profile (SACP) is 'bb-'. Thus, its issuer credit rating of 'BB' is one notch higher than its SACP, reflecting Halyk's "high systemic importance in Kazakhstan and S&P's assessment of the Government as supportive".
The above ratings reflect S&P's view of "adequate business position, moderate capital and earnings, and adequate risk position, above average funding, and adequate liquidity" of Halyk under S&P's revised bank criteria.
The Bank's new ratings are one of the highest among Kazakhstan banks and confirm Halyk's leading position in the market.
About Halyk Bank
Halyk Bank is one of Kazakhstan's leading financial services groups and a leading retail bank with the largest customer base and distribution network among Kazakhstan banks. The Bank is developing as a universal financial group offering a broad range of services (banking, pensions, insurance, leasing, brokerage and asset management) to its retail customers, small and medium enterprises and corporate clients. As at 30 September 2011, Halyk Bank had total assets of KZT 2,240 billion and shareholders' equity of KZT 301 billion.
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For further information please contact:
Halyk Bank Assel Atinova Head, Financial Institutions |
+7 727 259 04 30 |
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