/KASE, May 17, 2024/ – Halyk Bank of Kazakhstan JSC (Almaty), whose
securities are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated May 17, 2024:
quote
Joint Stock Company 'Halyk Bank of Kazakhstan' and its subsidiaries (together
"the Bank") (LSE: HSBK) releases consolidated financial information for the
three months ended 31 March 2024.
...
Net profit attributable to common shareholders decreased to KZT 178.0bn in 1Q
2024, down 7.5% compared with KZT 192.5bn in 1Q 2023, despite increase in
lending and transactional businesses, due to one off recognized loss for KZT
66.1bn (pre-tax) in view of expected early repayment of the deposit of JSC
Kazakhstan Sustainability Fund (KSF) in accordance with the IFRS.
Interest income for 1Q 2024 increased by 30.5% vs. 1Q 2023 mainly due to
increase in average rate and balances of loans to customers.
Interest expense for 1Q 2024 increased by 28.6% vs. 1Q 2023 mainly as a result
of the growth in average rate on amounts due to customers and increase in the
share of KZT amounts due to customer. Consequently, net interest income for
1Q 2024 grew by 32.4% vs. 1Q 2023.
In 1Q 2024, net interest margin was affected by the increase in average rates on
both loans to customers and amounts due to customers. Furthermore, the share
of loans to customers in total interest earning assets has increased. Moreover,
there was an increase in the average rate of FX amounts due from credit
institutions and FX interest-earning cash and cash equivalents following the
increase of USD interest rates, as well as increase in the share of KZT
interest- earning cash and cash equivalents. As a result, net interest margin
increased to 7.1% p.a. for 1Q 2024 compared to 6.0% p.a. for 1Q 2023.
unquote
The complete press release is available on:
-
https://kase.kz/files/emitters/HSBK/hsbk_relizs_170524_1.pdf – in Russian;
-
https://kase.kz/files/emitters/HSBK/hsbk_reliz_170524_en.pdf – in English.
[2024-05-17]