Kazakhstan’s Halyk Bank Ups 2016 Profit Guidance To 120 Bln Tenge

Share of NPL 90+ in Halyk Bank exceeded 13% in first 9 months 2017

ASTANA Nov 21 (Reuters) – Kazakhstan’s second-biggest lender, Halyk Bank , raised its 2016 net income guidance to around 120 billion tenge ($353 million) on Monday from a previous forecast of over 100 billion tenge.

The bank said in a presentation on its website it now forecast interest-earning assets to grow 27-30 percent this year, up from the previously expected 15-20 percent.

Remind that Nov 18 Halyk Bank said a merger with top-ranked Kazkommertsbank (KKB) had been considered but said “there can be no certainty that this will lead to commencement of negotiations”.(Reporting by Olzhas Auyezov; Editing by Alexander Winning)