Q2 2026 Halyk Bank AO Earnings Call Transcript
Key Points
- Strong digital engagement with 8.6 million monthly active users and 6.1 million monthly transacting users, driving a 14.1% increase in transaction volumes.
- Robust retail loan growth of 10.7% year-on-year, with a recovery in origination activity in Q2 2026.
- SME segment is a key growth driver, with a 24.7% year-on-year increase in gross loan portfolio and strong digital lending growth.
- Corporate loan portfolio grew 11.3% year-on-year, with strong asset quality (NPL 90+ at 2.6%) and high client engagement.
- Management expects a positive impact from the National Bank's rate-cutting cycle, with potential for margin expansion as liabilities reprice faster than assets.
- Net income declined 15.3% year-on-year due to increased minimum reserve requirements, tighter retail lending regulations, and higher deposit costs.
- Net fee and commission income decreased 19.6% year-on-year, impacted by BNPL regulatory changes and VAT pass-through, with a full-year guidance of a 10% decline.
- Net interest margin compressed to 6.8% from 7.3%, pressured by higher funding costs and regulatory changes.
- Retail NPL ratio rose to 9.2% due to a moratorium on selling problem loans and slower portfolio growth, with coverage declining.
- Insurance income was weak in Q2 due to higher loss ratios and one-off model revisions, negatively impacting consolidated results.
Good day, ladies and gentlemen. Thank you for joining us today for the conference call to discuss Halyk Bank's the first half 2026 consolidated financial results. I'm Mira Tiyanak, Head of FI abf IR, and joining on the call today are Mr. Umut Shayakhmetova, Chief Executive Officer; Mr. Murat Koshenov, CFO, Deputy CEO, Finance, Subsidiaries, Compliance, and International Activities; Mr. Dauren Sartayev, First Deputy CEO, B2B Banking, Marketing, PR, and Acquiring and Transactional Banking; Ms. Olga Vuros, Deputy CEO, Corporate Banking; Mr. Nariman Mukushev, Deputy CEO, Digital GovTech and Ecosystem; Mr. Mikhail Khasin, Deputy CEO of IT; Mr. Kiril Bachvarov, Deputy CEO of B2C Banking; Mr. Almas Makhanov, Financial Director; Mr. Viktor Skryl, Strategy Director; and Mr. Rustam Telish from IR team.
The session will start with a presentation by our team and will be followed by a Q&A, and please note that the call is being recorded.
Let me start with our B2C business update. The first half of 2026 continued to demonstrate strong
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
