/KASE, July 16, 14/ – Halyk Savings Bank of Kazakhstan (Алматы), securities
of which are officially listed on Kazakhstan Stock Exchange (KASE), provided
to KASE the following press release of July 16, 2014:
quotation
On 16 July 2014, the international rating agency Standard & Poor's Ratings
Services (hereinafter – Standard & Poor's) announced the upgrade of Long-
Term Counterparty Credit Rating (hereinafter - CCR) of JSC “Halyk Bank”
(hereinafter the “Bank” or “Halyk Bank”) to ‘BB+’ from ‘BB’. Standard & Poor's
affirmed the ‘B’ Short-Term CCR. The Outlook on the Bank’s ratings is Stable.
The upgrade of Halyk Banks’s Long-Term CCR to ‘BB+’ reflects Standard &
Poor's view “that Halyk's competitive position has strengthened over the past
four years, leading us to revise our assessment of the bank's business position
to strong from adequate”
Standard & Poor's pointed out Halyk Bank’s relatively unscathed emergence
from the severe crisis in 2007-2008, superior business position in the
Kazakhstan banking sector, operating the only universal banking model in
Kazakhstan, above-peer profitability, lower funding sensitivity, and lower
concentrations in the lending book.
ends
The press release full version is available on KASE website at:
-
http://www.kase.kz/files/emitters/HSBK/hsbk_reliz_160714.pdf – in
Russian;
-
http://www.kase.kz/files/emitters/HSBK/hsbk_reliz_160714_en.pdf – in
English.
[2014-07-17]