
What smart money is saying about JSC Halyk Bank
1 fund in our archive has pitched JSC Halyk Bank — most recently Quercus Fund in March 2025.
Halyk Bank of Kazakhstan Joint Stock Company, together with its subsidiaries, provides corporate and retail banking services primarily in the Republic of Kazakhstan, Kyrgyzstan, Georgia, and Uzbekistan. It operates through four segments: Corporate Banking, SME Banking, Retail Banking, and Investment Banking. The company's products and services include current and correspondent accounts; various deposit products; investment savings products; credit and debit cards; consumer loans and mortgages; custody, and foreign currency related services; overdrafts; other credit facilities; and letters of credit, trade finance products, foreign exchange, interbank operations, cash services, and documentary services. It trades in securities and foreign currencies; executes transfers; and offers cash and payment card processing, and other banking services. In addition, the company offers leasing, telecommunications, broker and dealer, cash collection, and asset management services; and motor and property, and life insurance products, as well as online banking services. It serves individuals, corporate clients, and SME clients and individual entrepreneurs. The company was formerly known as Halyk Savings Bank of Kazakhstan Joint Stock Company and changed its name to Halyk Bank of Kazakhstan Joint Stock Company in June 2023. Halyk Bank of Kazakhstan Joint Stock Company was founded in 1923 and is headquartered in Almaty, the Republic of Kazakhstan. Halyk Bank of Kazakhstan Joint Stock Company is a subsidiary of JSC Holding Group ALMEX.
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Fund coverage · 1 thesis
- Quercus FundMarch 2025
Halyk is expected to deliver a 30%-33% ROE in 2025, offering significant potential returns through dividends and share appreciation despite being undervalued in the frontier market of Kazakhstan.
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