Q1 2026 Halyk Bank AO Earnings Call Transcript
Key Points
- Halyk Bank of Kazakhstan JSC (STU:H4L1) reported a strong digital engagement with 8.5 million monthly active users on its Halyk Super-App ecosystem.
- The bank's retail deposit portfolio increased by 10.4% year-on-year, maintaining a strong market position with a 27.4% market share.
- The SME gross loan portfolio grew by 27.7% year-on-year, with digital lending being a significant growth driver.
- The corporate loan portfolio increased by 8.5% year-on-year, with a well-diversified structure across industries.
- The bank maintained a solid market position with a 48% share in loans to legal entities and a 29.6% share of deposits of legal entities.
- Net income for the first quarter of 2026 decreased by 14.6% year-on-year due to increased minimum reserve requirements and tighter regulations in retail lending.
- Loan issuance in the retail segment was down 18.3% year-on-year, reflecting regulatory tightening and its impact on BNPL and unsecured lending.
- Net interest margin declined to 7% from 7.5% in the previous year, primarily due to regulatory impacts.
- Net fee and commission income declined by 26.1% year-on-year, affected by weaker BNPL transactional income and VAT pass-through.
- Operational expenses increased by 7.8% year-on-year, driven by IT development-related costs and VAT increases.
Good day, ladies and gentlemen. Thank you for joining us for the conference call today to discuss Halyk Bank's 1Q unaudited consolidated financial results. I'm Mira Tiyanak, Head of Fan IR.
Joining me 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, Deputy CEO, B2B Banking, Marketing, PR and Acquiring; Mr. Roman Maszczyk, Deputy CEO, Risk Management, Data Science and Collateral; Ms. Olga Vuros, Deputy CEO, Corporate Banking; and Mr. Nariman Mukushev, Deputy CEO, Digital Govt. Services and Ecosystem; Mr. Mikhail Khasin, Deputy CEO, 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 the presentation by our team and will be followed by Q&A. And please note that the call is being recorded.
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