Halyk Finance assigned ratings by Fitch Ratings

/KASE, July 24, 14/ – Subsidiary organization of Halyk Bank of Kazakhstan "Halyk Finance" JSC (Almaty, in the heading – Halyk Finance), a member of Kazakhstan Stock Exchange (KASE), has provided KASE with a press-release of July 24, 2014: quote Fitch Ratings international rating agency has assigned JSC Halyk Finance (hereinafter – "Halyk Finance" or the "Company") the long-term Issuer Default Ratings (IDR) of 'BB' in foreign and national currencies with a Stable Outlook, the short-term IDRs of 'B' in foreign and national currencies and the short-term support rating of '3'. "Over the past 10 years, we have done our utmost to capture and cement our leading position in Kazakhstan's investment banking market, continuously acting as an ice-breaker and a high-quality innovator in everything we do – from implanting the best international market standards into the domestic practice to successful execution of our clients' most sophisticated – and often unique – mandates under very tight deadlines. This time, Halyk Finance has yet again become the one and only investment bank in Kazakhstan which has received an international credit rating." – said Mr. Arnat Abzhanov, the CEO of JSC Halyk Finance. "Halyk Finance being able to secure such a high international credit rating objectively attests to our constant commitment to conducting open and transparent business in the securities market – and our clients are the key beneficiaries of our relentless commitment. Our rating is one of the highest ratings assigned to local investment banks in the whole CIS region, thereby marking a very important and significant achievement for us." Commenting on the assignment of the credit rating, Mrs. Umut Shayakhmetova, the CEO of JSC Halyk Bank, has commented: "The past week has been very eventful for Halyk Group. As you may know, Standard & Poor's Rating Services has upgraded Halyk Bank's long-term counterparty credit rating from "BB" to "BB+". Now Fitch has assigned an international credit rating of "BB" to one of our subsidiaries. It's a positive trend which can't help making our Group companies happy. Halyk Finance is an integral part of Halyk Group's development strategy and we pay strong attention to how Halyk Finance has been able to transform from a regular broker-dealer company into a full-fledged premium investment bank. The assignment of a rating from one of the top international rating agencies is a milestone event for Halyk Finance and confirms correctness of the Company's long-term development strategy." unquote [2014-07-24]