Halyk Savings Bank of Kazakhstan reports consolidated financial results for the six months ended 30 June 2020

17.08.20 15:05
/KASE, August 17, 2020/ – Halyk Savings Bank of Kazakhstan (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE as follows: quote Joint Stock Company ‘Halyk Savings Bank of Kazakhstan’ and its subsidiaries (together “the Bank”) (LSE: HSBK) releases condensed interim consolidated financial information for the six months ended 30 June 2020. Net income decreased by 16.5% to KZT 74.9bn for 2Q 2020 compared to KZT 89.7bn for 2Q 2019 mainly as a result of increase in credit loss expenses. Interest income slightly increased by 0.3% to KZT 180.5bn for 2Q 2020 compared to KZT 179.9bn for 2Q 2019 mainly as a result of increase in average balances of interest-earning assets. Interest expense decreased by 7.4% compared to 2Q 2019. In comparison with 2Q 2019, net interest margin decreased by 0.1% as a result of decline in interest rates on FX interbank deposits and increase in share of placement in lower yielding FX instruments. Cost of risk increased to 1.0% compared to 0.3% in 2Q 2019 due to the additional allowances for expected credit losses reflecting the increased risk and uncertainty from COVID-19 outbreak and lockdown restrictions. unquote Full version is available on KASE website at: - https://kase.kz/files/emitters/HSBK/hsbk_reliz_170820_1.pdf – in Russian; - https://kase.kz/files/emitters/HSBK/hsbk_reliz_170820_eng_1.pdf – English. [2020-08-17]