/KASE, August 19, 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 August 19, 2024:
quote
Joint Stock Company 'Halyk Bank of Kazakhstan' and its subsidiaries (together
"the Bank") (LSE: HSBK; KASE: HSBK, HSBKd; AIX: HSBK, HSBK.Y) releases
interim condensed consolidated financial information for the six months ended 30
June 2024.
...
Net income attributable to common shareholders for 1H 2024 is up 2.2% year-
on-year. It was negatively impacted by one off effect for KZT 79.3bn (pre-tax)
vs. 1H 2023 for KZT 14.5bn (pre-tax) related to accelerated repayment of
Kazakhstan Sustainability Fund (KSF) deposit. It was also affected by the
increase in credit loss expense.
Interest income for 1H 2024 was up 29.7% vs. 1H 2023 mainly due to increase in
average rate and balances of loans to customers.
Interest expense for 1H 2024 increased by 27.2% vs. 1H 2023 mainly as a result
of the growth in average rate on amounts due to customers and growth in the
share of KZT amounts due to customers. Consequently, net interest income
before credit loss expense for 1H 2024 grew by 32.1% vs. 1H 2023.
In 1H 2024 net interest margin was affected by the increase in average rates on
both loans to customers and amounts due to customers. Furthermore, net
interest margin was positively impacted by the increase in the share of higher
yielding retail loans in total loan portfolio and share of loans to customers in
total interest earning assets. 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 has grown to 7.0% p.a. for 1H 2024 compared to 6.0%
p.a. for 1H 2023.
unquote
The complete press release is available on KASE website:
-
https://kase.kz/files/emitters/HSBK/hsbk_relizs_190824_1.pdf – in Russian;
-
https://kase.kz/files/emitters/HSBK/hsbk_relizs_190824_en.pdf – in English.
[2024-08-19]