Question 1

What is Halyk Bank?

Accepted Answer

Halyk Bank is Kazakhstan's largest and most prominent universal commercial bank, serving as the country's leading financial institution with a dominant market position. With over $30 billion in assets and a 35% market share, the bank provides comprehensive financial services to millions of retail customers and corporate clients across Kazakhstan.

The bank's full name, Қазақстан Халық Жинақ Банкі (Qazaqstan Halyq Jınaq Banki), translates to "Peoples' Savings Bank of Kazakhstan Joint-Stock Company." Halyk Bank is publicly traded on both the Kazakhstan Stock Exchange and the London Stock Exchange, where its shares have been listed since 2006.

Question 2

When was Halyk Bank founded?

Accepted Answer

Halyk Bank was established in 1923 as the successor to the Soviet-era Savings Bank (Sberbank) in Kazakhstan following independence. The bank underwent significant transformation in July 1998 when it converted from a closed joint stock company with 100% government participation into an open joint stock company.

A major milestone occurred on July 27, 2018, when Halyk Bank merged with Kazkommertsbank, consolidating its position as Kazakhstan's undisputed market leader. This merger strengthened the bank's capital base, expanded its customer reach, and reinforced its systemic importance to the Kazakh economy.

By the mid-1990s, Halyk Bank had already become the largest operating bank in the republic, and it has maintained this leadership position for decades.

Question 3

Where is Halyk Bank headquartered?

Accepted Answer

Halyk Bank is headquartered in Almaty, Kazakhstan's largest city and former capital. Almaty remains the country's financial and commercial hub despite the capital relocating to Astana (now Nur-Sultan) in 1997.

From its Almaty headquarters, the bank coordinates operations across an extensive domestic and international network spanning multiple countries in Central Asia and beyond.

Question 4

Where does Halyk Bank operate?

Accepted Answer

Halyk Bank operates primarily throughout Kazakhstan with a comprehensive distribution network of 572 branches and outlets, including 24 regional branches, 120 sub-regional offices, 328 personal service centers, 49 banking service centers, and 33 business centers dedicated to corporate clients.

The bank's infrastructure includes 4,580 ATMs (36.4% market share) and 275,812 POS terminals (33.8% market share), making it the largest processing bank in Kazakhstan. In 2022, Halyk processed retail transactions totaling 41.9 trillion tenge.

Beyond Kazakhstan, Halyk Bank operates subsidiaries in Kyrgyzstan, Georgia, and Uzbekistan (Tenge Bank), reflecting its strategic regional expansion across Central Asia and the Caucasus. The bank previously maintained operations in Russia and Tajikistan but divested these subsidiaries to improve operational efficiency.

Question 5

What services does Halyk Bank offer?

Accepted Answer

Halyk Bank provides universal banking services across all major segments. Retail banking includes current accounts, savings accounts, deposit products, payment cards (Visa, Mastercard, American Express, UnionPay), consumer loans, mortgage loans, auto loans, and retirement products.

Corporate and SME banking encompasses business lending, trade finance, cash management, payment processing, and working capital financing. The bank actively participates in government support programs through partnerships with development institutions including the Development Bank of Kazakhstan, Agrarian Credit Corporation, and KazakhExport.

Investment banking services are delivered through subsidiary Halyk Finance, which offers brokerage services, securities trading, and capital markets access. The bank has created Kazakhstan's broadest open digital ecosystem, including Halyk Market (e-commerce platform), Halyk Homebank mobile application, online government services integration, and data-driven personalized financial products.

Halyk Insurance Company and Halyk Life provide comprehensive insurance and life insurance products, while Halyk Collection handles debt recovery operations.

Question 6

What makes Halyk Bank unique?

Accepted Answer

Halyk Bank holds the highest credit ratings among private banks in Kazakhstan without foreign ownership, with investment-grade equivalent ratings from major international agencies: BBB- from Fitch (stable outlook), BB+ from Standard & Poor's, and Baa1 from Moody's. Notably, Halyk is the only bank in Kazakhstan to achieve ratings at the sovereign level.

The bank is the sole Kazakhstani representative in the Forbes Global 2000 ranking of the world's largest public companies, rising to position 1522 in 2019. Halyk was named "Best Bank in Kazakhstan" by EMEA Finance magazine and recognized as Kazakhstan's best transaction bank by Euromoney.

With 8.3 million active retail clients and 318,500 B2B active clients, Halyk Bank serves approximately 45% of Kazakhstan's population. The bank processes one of the largest volumes of digital transactions in the region, handling over 600 million personalized stories per month in its mobile app.

Halyk Bank is majority owned (64.5%) by ALMEX Holding Group JSC, which is controlled on a parity basis by Timur Kulibayev and Dinara Kulibayeva, the son-in-law and daughter of former President Nursultan Nazarbayev. International investors comprise approximately 30% of the bank's ownership.

Question 7

What type of financial institution is Halyk Bank?

Accepted Answer

Halyk Bank is a universal bank (универсальный банк), which in Kazakhstan represents the most comprehensive category of financial institution licensed to conduct all forms of banking activities. Universal banks can accept deposits, provide lending across all sectors, conduct foreign exchange operations, offer investment services, and engage in securities trading.

As Kazakhstan's largest second-tier bank (all commercial banks except the National Bank of Kazakhstan are classified as second-tier banks), Halyk Bank is designated as systemically important financial institution subject to enhanced regulatory supervision and capital requirements.

The bank operates under the regulatory oversight of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market. Its market leadership is reflected in dominant positions across key metrics: 30.9% of total banking sector assets, 34.1% of equity, 39.7% of net income, 32.2% of retail deposits, and 32.4% of corporate deposits among second-tier banks.

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