Kazakhstan · Delayed Price · Currency is KZT Halyk Bank of Kazakhstan Joint Stock Company Earnings Call Transcripts
Fiscal Year 2025
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Delivered 14.9% net income growth in 2025, with strong digital momentum and robust asset quality. 2026 guidance was revised downward due to higher rates and regulatory tightening, but profitability and capital remain strong.
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Strong digital and financial growth in 2025, with net income driven by higher interest and fee income despite increased taxes and reserve requirements. Updated guidance targets over KZT 1 trillion net income for 2025 and KZT 1.1 trillion for 2026, factoring in regulatory changes.
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Digital platforms drove strong user and transaction growth, with net interest income up 27.2% and NIM at 7.2%. Strategic expansion into Uzbekistan and robust capital position support a 60% dividend payout, while regulatory changes and higher reserve requirements pose headwinds.
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Strong Q1 2025 results driven by robust net interest income and digital growth, with rising NPLs due to a moratorium on retail loan sales and upcoming regulatory changes. Capital and liquidity remain strong, while guidance will be updated after six months.
Fiscal Year 2024
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Record net income and robust growth in loans, deposits, and digital engagement marked 2024, with strong profitability and capital metrics. 2025 guidance anticipates continued double-digit loan growth, stable margins, and resilient asset quality despite inflation and regulatory changes.
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Strong digital growth and robust lending drove a 53.7% year-on-year net income increase in Q3, with improved asset quality and a higher net interest margin. Dividend policy remains unchanged, and regulatory changes are postponed to 2026.
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Strong digital and retail growth drove higher net income and robust loan portfolio expansion, despite one-off costs and increased provisioning. Guidance for 2024 was fine-tuned, with net income expected around KZT 800 billion and continued focus on digitalization and capital strength.