Halyk bank of Kazakhstan Halyk bank

Universal Commercial Bank of the Republic of Kazakhstan. Halyk Bank of Kazakhstan Joint Stock Company was founded on the basis of the reorganization Savings Bank of the Republic of Kazakhstan and for several years was an agent of the Government of the Republic of Kazakhstan for the payment of pensions and benefits.

The Halyk Group, which includes Halyk Bank, Qazkom and is Altyn Bank one of the largest private financial groups in the CIS in terms of assets. The group operates in various segments, including retail, SMEs and corporate banking services, insurance, leasing, brokerage and asset management. Halyk Group is also represented in,,, and Georgia. Kyrgyzstan Tajikistan Russia

Halyk Bank of Kazakhstan JSC, the oldest financial institution, is the No. 1 bank in Kazakhstan in terms of assets and equity. The bank leads in many areas of business, in particular, in servicing payment cards with a market share of 45.6%. The number of users of the Internet banking system for individuals is 1 million Kazakhstanis.

Owners

As of January 2022, the owners of the bank are Timur Kulibaev and his wife Dinara Kulibaeva, the middle daughter of the first president of Kazakhstan Nursultan Nazarbayev.

Performance indicators

2024

Net profit growth by a third to $1.7 billion

In 2024, the People's Bank of Kazakhstan recorded a net profit of 920.99 billion tenge ($1.71 billion at the exchange rate as of August 11, 2025). This is about a third more compared to the previous year, when the figure was 693.44 billion tenge. The relevant data are contained in the financial statements, which TAdviser reviewed in mid-August 2025.

Interest income on an annualized basis rose by 30% - from 1.67 trillion tenge to 2.17 trillion tenge ($4.02 billion). The positive dynamics, as noted, is mainly due to an increase in the average rate and balance of loans. Interest expenses increased from 872.64 billion tenge to 1.06 trillion tenge ($1.97 billion), that is, by 21.8%. The increase was influenced by the growth of the share of customer funds in tenge and the share of deposits in total liabilities.

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Фото: Halyk bank

Net interest margin rose from 6.1% to 7.2% per annum. This indicator was positively affected by an increase in average rates on both loans to customers and their funds. In addition, there was an increase in the share of higher-yielding loans to retail clients in the total loan portfolio and the share of loans to clients in total interest rate assets, as well as an increase in the share of interest-bearing cash and its equivalents denominated in tenge.

Despite the negative impact of the transition to depreciation of package offers for legal entities from November 2023 and the revision of some retail tariffs in the second half of 2023, revenues from services and commissions for 2024 increased by 5.8% as a result of an increase in the number of customers, an increase in their transactional activity, as well as an increase in commissions for issued guarantees and letters of credit. The final result amounted to 211.73 billion tenge ($392.1 million) against 200.06 billion tenge in 2023.^[1]

9th place in terms of assets among banks in Kyrgyzstan

History

2025

Click purchase for $176.4 million

Kazakhstan People's Bank (Halyk Bank) has concluded a strategic agreement on the acquisition of a 49% stake in the Uzbek fintech company Click for $176.4 million as part of a mutual exchange of assets. The deal assumes that the Uzbek side will receive a similar stake in the Kazakhstan subsidiary of Tenge Bank for $60.76 million, the bank said on July 23, 2025. Read more here

Detention of bank robbers. They turned out to be Russians

In February 2025, law enforcement agencies detained suspects in the robbery of a branch of the People's Bank in. Pavlodar The crime was committed in November 2024, the police department said. To solve the case Ministry of Internal Affairs of Kazakhstan , together with Russian colleagues, he created an investigative and operational group within the framework of international cooperation. The suspects were citizens. Russia By decision of the Kazakh court, they were arrested, a pre-trial investigation is underway.^[2]

2024: Sale of a Kyrgyz subsidiary for $38 million

Halyk Bank in Kyrgyzstan sold to international investment group Visor for $38 million. This was announced on June 18, 2024 by the new chairman of the board of directors of the bank Almas Chukin. The transaction, completed in April 2024, took place through the Kyrgyz Stock Exchange.

Halyk Bank Kyrgyzstan was sold at a price of about 3.3 billion soms. In the process of assessing the value of the bank, a company from the Big Four participated. The final value of the transaction was agreed back in July 2023. The new chairman of the board of directors of the bank, Almas Chukin, noted that the deal passed on about 0.9 Price-to-Book Value.

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Фото: DigitalBusiness.kz

Chukin stressed that the sale of Halyk Bank to Kyrgyzstan has become part of the strategy of Kazakhstan's Halyk Bank to curtail international activities. As a result of the transaction, Halyk completely left the Kyrgyz market, retaining its subsidiary banks in Uzbekistan and Georgia. Chukin also noted that the deal represents a compromise beneficial to both sides.

As a result of the deal, Visor plans to create a new financial system in Kyrgyzstan that will include various financial services and products, Chukin said. The bank will become an important part of this ecosystem, ensuring the integration of all financial transactions into a single mobile application.

The new chairman of the board of directors stressed that the creation of a financial system in Kyrgyzstan is Visor's strategic goal. The company plans to integrate the bank's IT systems, rebrand and launch a new mobile application in July 2024.

The purchase of Halyk Bank Kyrgyzstan will allow Visor to expand its financial services and improve the quality of customer service. The bank will work to expand its corporate business and branch network by creating modern branches without traditional elements such as iron doors and security guards, Chukin said.^[3]

2022

Sale of a 100% stake in Russian Moskommertsbank

Halyk Bank of Kazakhstan (Halyk Bank) in December 2022 sold a 100% stake in its subsidiary in Russia - Moskommertsbank.

Purchase of Sberbank's subsidiary loan portfolio for 330 billion tenge

The People's Bank of Kazakhstan (Halyk Bank) bought out the loan portfolio of Kazakhstan's subsidiary Sberbank for 330 billion tenge (about $733.5 million at the exchange rate as of April 13, 2022 - the day when the deal became known). It is specified that under the cession agreement, part of the loan portfolio of Sberbank's retail clients was purchased, including car loans issued under the concessional lending program of the Development Bank of Kazakhstan, as well as part of unsecured loans, loans for urgent needs and mortgage loans. Read more here.

Notes