JSC Halyk Bank: Business Overview, Financials & Competitive Analysis
JSC Halyk Bank scores 8/10 on the AskCyborg Cyborg Score (Strong). Market-leading Central Asian bank with exceptional profitability, improving efficiency, digital momentum, and regional expansion driving sustainable growth. The bank reported record high profit of KZT921 billion for 2024 (32.8% YoY increase) with 34% return on equity. Cost-to-income ratio improved to 17.6% and total assets grew 19.7%. Strong execution with.
What is JSC Halyk Bank's industry? JSC Halyk Bank (halyk.kz) operates in Commercial Banking & Financial Services. AskCyborg classifies JSC Halyk Bank under Commercial Banking & Financial Services in its company registry.
Halyk Bank of Kazakhstan JSC is engaged in retail, corporate, and SME banking services, and also provides insurance, cash collection, asset management, brokerage, telecommunication, and leasing services. The bank is t...
Cyborg Score thesis
Market-leading Central Asian bank with exceptional profitability, improving efficiency, digital momentum, and regional expansion...
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Get Current Report FreeJSC Halyk Bank Overview
Pro stress-test →Halyk Bank of Kazakhstan JSC is engaged in retail, corporate, and SME banking services, and also provides insurance, cash collection, asset management, brokerage, telecommunication, and leasing services. The bank is the largest financial services provider in Kazakhstan with a dominant market position and expanding regional presence.
Strategic Profile
Pro stress-test →The bank's digital platforms show significant growth, with the B2C Super-App's payment volume rising 39% and the B2B online bank's payment volume growing 16% year-on-year. The bank's MSCI ESG rating was upgraded to BBB, it became the first Kazakhstani commercial bank to issue green bonds, and its total loan exposure to Uzbekistan increased by 45% year-on-year, highlighting strategic expansion in Central Asia.
Competitive Landscape
Pro stress-test →Halyk Bank operates in Kazakhstan's concentrated banking sector as the market leader. Primary competitors include BTA Bank, Kaspi Bank (digital-focused fintech), and Alfa Bank. The bank's competitive advantages include strongest market share, most extensive branch network, superior digital platforms (B2C Super-App and B2B online banking), and lowest cost-to-income ratio (17.6%) among major peers.
Industry Context
JSC Halyk Bank operates in Commercial Banking & Financial Services.
Key facts
Founded: 1996 · Headquarters: Almaty, Kazakhstan