Halyk Savings Bank of Kazakhstan fetches awards from Global Finance and Emeafinance
May 25. KASE
Halyk Bank has been awarded two top-prizes at once, from renowned global financial editions. Magazine Emeafinance hails the bank The Best Bank in Kazakhstan for three years in a row, nominating it for Europe Banking Awards 2010, and Global Finance names Halyk Bank “The Best Bank in Kazakhstan” nominated for “World’s Best Emerging Market Banks”.
May editions of both Global Finance and Emeafinance featured reviews including polls amongst leading global experts – financial analysts, banking advisors, with Halyk Bank named the Year Leader in Kazakhstan. The analysis based on assets growth, profitability, strategic relationships, customer service, price competitiveness and innovative products.
– Halyk Group is an important part of Kazakhstan’s finance and banking sector, and is unique in terms of being universal, eventually making it the national champion in Eurasia, – comments C. Moore, Publisher&CEO of EMEA Finance, – Halyk Bank showed financial growth in dire straits, increased its assets, deposit and loan portfolios, and its investment arm Halyk Finance played a key role in tapping global bond markets not only for government-owned corporations like Development Bank of Kazakhstan or Samruk-Kazyna, but also helped KazMunayGaz raise USD1.25 via Eurobonds.
– Kazakh banks are well aware of the downturn over the past several years, – says Tim Burk, editor of Emeafinance, – and the best ones not only lived through those dark times, but also could make an advance. Halyk Bank’s growing share and strong financial indicators were the reason for its becoming “The Best Bank in Kazakhstan”.
Global investors rely very much on Halyk Bank seeing its good performance. In April 2011, Fitch Ratings, upgraded Halyk Bank’s ratings from “B+” to “BB-” after successful placement of Eurobonds amounting to USD500 m. In march 2011 Halyk Bank early repaid government aid by selling part of the purchase option on the bank’s shares and buying back own common shares off Samruk-Kazyna.
– We are grateful to professionals from Emeafinance and Global Finance, – says Umut Shayakhmetova, Chairman of Management Board of Halyk Bank of Kazakhstan, – The high mark confirms the right choice of strategy bringing out financial institution remarkable achievements, earnings – to our clients, shareholders and investors.