23 December 2016, PRESS RELEASE On 20 December 2016, the international rating agency Fitch Ratings (hereinafter - Fitch) affirmed the long-term foreign and local currency Issuer Default Ratings (hereinafter - IDRs) of JSC Halyk Bank and its 100%-owned subsidiaries JSC Halyk Finance and JSC Altyn Bank at 'BB'. Fitch also affirmed Stable outlook for Halyk Bank and Halyk Finance, maintaining Rating Watch Positive for Altyn Bank.

The affirmed IDRs reflect Fitch's view of Halyk Bank's strong franchise, large liquidity cushion - the strongest among its peers, solid profitability and capitalisation. Fitch acknowledged that due to Halyk Bank's solid pre-impairment profitability and a large buffer of core capital it 'retains the strongest loss absorption capacity among large Kazakh banks.'

The IDRs of Halyk Finance and Altyn Bank are aligned to the ratings of their parent. Fitch expects that both companies would receive support from Halyk Bank should it become necessary. Meanwhile Fitch outlined Halyk Finance's prominent market positions in investment banking and brokerage services to domestic clients, as well as the company's healthy balance sheet which 'makes it relatively easy to support.' Fitch also expects the upside potential for credit ratings of Altyn Bank from an acquisition of its 60% equity stake by China Citic Bank (BBB/Stable) in 2017.

The affirmed ratings of Halyk Bank and Altyn Bank are the highest among Kazakh local banks, proving their position of the most sustainable domestic financial institutions. Halyk Finance is the first and only brokerage company in Kazakhstan rated by an international credit rating agency.

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JSC Halyk Bank is the leading financial services group and the leading retail bank in Kazakhstan with the largest customer base and the broadest branch network. The Bank is developing as a universal financial services group rendering a wide range of services (banking, insurance, leasing and brokerage services) to its retail, SME and corporate clients. The Bank also operates in Russia, Georgia and Kyrgyzstan.

Altyn Bank JSC (Subsidiary of Halyk Bank JSC), previously known as HSBC Bank Kazakhstan, established in Kazakhstan since 1998, has been acquired by and became a wholly owned subsidiary of Halyk Bank JSC in November 2014. With offices in four major cities in Kazakhstan and being a universal bank, Altyn Bank provides full range of products and services to corporate and retail clients across the country.

Halyk Finance is Kazakhstan's leading investment bank providing the full range of investment and banking services, including financial consulting and underwriting (arranging the issues and placements of corporate issuers' securities), corporate finance (including M&A consultancy on share/participatory interest purchases and sale, and corporate debt restructuring), brokerage and trade in securities, market making at KASE, investment portfolio management, and research.

For further information please contact:

Halyk Bank

Mira Kasenova +7 727 259 04 30

Head of Financial Institutions

Halyk Finance

Farkhad Okhonov

Director, Consulting and Underwriting +7 727 357 3169

Altyn Bank

Margarita Rudakova

Head of Business Management/Financial Institutions +7 727 330 36 73

JSC Halyk Savings Bank of Kazakhstan published this content on 23 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 December 2016 07:37:11 UTC.

Original documenthttps://halykbank.kz/en/investor-relations/press-releases/6821

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