Fitch Ratings Affirms Halyk Bank’s BBB- Credit Rating with Stable Outlook

The international rating agency Fitch Ratings has confirmed Halyk Bank’s long-term rating in both foreign and national currencies at BBB- with a Stable Outlook, Orda.kz reports.

According to Fitch, the rating is supported by the bank’s high market share in Kazakhstan’s banking sector, consistently strong profitability, significant capitalisation, and solid liquidity.

The agency explained that the Stable Outlook reflects expectations that Halyk Bank’s credit metrics will remain strong in the medium term. Fitch highlighted the bank’s robust business model, with strong positions in both corporate and retail banking, a balanced loan portfolio, and improved asset quality over the past five years.

The agency also expects Halyk Bank to maintain high profitability in 2025–2026, supported by strong margins, high operational efficiency, and a low cost of risk.

The affirmation of the credit rating by Fitch Ratings reflects the bank’s effective performance in the face of a changing economic environment and external challenges. The agency’s assessment underscores Halyk’s financial stability and reliability as a leading player in Kazakhstan’s banking market. It also confirms the trust and confidence the market places in Halyk, the bank said in a statement.

Partner material

Original Author: Maria Kravtsova