Rating agency Expert RA Kazakhstan affirms reliability ratings of Accumulative pension fund of Halyk Bank of Kazakhstan, subsidiary organization of Halyk Bank of Kazakhstan, at level А++

May 30. KASE

Rating agency Expert RA Kazakhstan affirms reliability ratings of Accumulative pension fund of Halyk Bank of Kazakhstan, subsidiary organization of Halyk Bank of Kazakhstan, at level А++Rating agency “Expert RA Kazakhstan” affirmed the reliability rating of JSC “APF of Halyk Bank of Kazakhstan” at level А++ “Exclusively high (highest) reliability level” in the course of monitoring as of April 1, 2012.

A positive impact on the level of rating of JSC “APF of Halyk Bank of Kazakhstan” is made by strong market position of the fund (market share as of April 1, 2012 – 33.3%), an increase in the equity in the first quarter, high liquidity and diversification of investment portfolio, as well as growing income (as of April 1, 2012 – KZT3.8 bn).

Among restricting factors discovered in the course of the rating evaluation there are negative balance of pension savings transfers in the first quarter (KZT7 bn as of April 1, 2012) and low ratio of nominal profitability (K2 (12) = 0.56).

“Base on results of the first quarter, we can see improvement of investment activities’ indicators, followed by a reduction of accounts payable, and lower pressure upon the ratio of sufficiency of equity”, – points out expert of the ratings unit of “Expert RA Kazakhstan” Vasiliy Kalabin.

JSC “APF of Halyk Bank of Kazakhstan” has been operating at the pension services market since January 1998 across the country. According to Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan (FSC NBK), as of April 1, 2012, pension savings of the fund made up KZT923.6 bn, pension contributions – KZT39.7 equity – KZT31.2 bn.

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