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.

History

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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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.^[1]

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.

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