Long-term rating has improved to BB +.
16 Apr 2021
According to the International Rating Agency, Fitch Ratings, Halyk Bank Georgia's long-term rating has improved from BB to BB +. Outlook fell from stable to negative, similar to Georgia's sovereign rating "BB".
According to Fitch, the improvement of the bank's rating to BB + level is due to the strength and stability of "Halyk Bank Kazakhstan", whose subsidiary is "Halyk Bank Georgia". Fitch confirms that Halyk Bank Georgia is a strategically important subsidiary of Halyk Group.
At the same time, it should be noted that despite the pandemic year and the global economic challenges, Halyk Bank Kazakhstan itself has improved its rating to BBB-, with outlook "stable". This rating is the highest in the history of Kazakhstan and is also the best in the history of Halyk Group. Halyk Bank Kazakhstan is represented in the financial markets of Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Russia and Georgia.
Halyk Bank Kazakhstan is the largest financial market institution in Kazakhstan and has been in existence for more than 97 years. Its shares have been listed on the London Stock Exchange since 2006. Halyk Bank Georgia has been present on the Georgian market since 2008 as a universal commercial bank, offering a wide range of products and services to corporate, small and medium and retail clients.