Halyk Bank Net Rose 50% to 31.6 Billion Tenge in First Half

AO Halyk Savings Bank (HSBK), the lender controlled by Kazakh President Nursultan Nazarbayev’s daughter and son-in-law, said first-half profit climbed 50 percent from a year earlier because of lower impairment charges and an increase in fees and commissions.

Net income was 31.6 billion tenge ($212 million) compared with 21.1 billion tenge in the first six months of last year, Halyk Bank said today in a statement. The lender’s second- quarter net income advanced 41 percent from a year earlier to 14.8 billion tenge, Halyk said on its website.

To contact the reporter on this story: Nariman Gizitdinov in Almaty at ngizitdinov@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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