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Analyst Handout 2Q 2012 _final_

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					Analyst Handout                             01.01.2011 – 01.07.2012




                   ANALYST HANDOUT
                  01.01.2011 – 01.07.2012
                          quarterly

back to content             Halyk Bank                           1
Analyst Handout                                                                             01.01.2011 – 01.07.2012




                     Table of contents

                  ● Macroeconomic Data of Kazakhstan…………………………… 3
                  ● Banking Sector of Kazakhstan ………………………………..... 4
                  ● Ratings ……………………………………………………………. 6
                  ● Industry Ranking – Top 5 Kazakhstan Banks…………………. 7
                  ● Halyk Bank vs. Sector……………………………………………. 8
                  ● Market Position of Halyk Bank………………………………….. 10
                  ● Market Penetration of Halyk Bank……………………………… 13
                  ● Shareholder Structure of Halyk Bank ………………………….. 14
                  ● Board of Directors of Halyk Bank ………………………………. 15
                  ● Management Board of Halyk Bank………...............................   15
                  ● Financial Overview of Halyk Bank……………………………...                     16
                  ● Key Subsidiaries of Halyk Bank…………………………….......                   26




back to content                                   Halyk Bank                                                     2
Analyst Handout                                                                                                                                                                     01.01.2011 – 01.07.2012

   Macroeconomic Data of Kazakhstan
   KZT/USD Exchange Rate                                                                                       International Reserves
                                                                                                        USD bn
                                                                                                          90




 153                                                                                                                                                                                       81              84
                                                                                                          80




 152                                                                                                                                           73                73           73
                                                                                                          70
                                                                                                                                  69
 151
                                                                                                                      59
 150                                                                                                      60




                                                                                                                                                                                                           51
                                                                                                                                                                                           48
 149                                                                                         149.42       50                      34            39               40            44
 148                                                                                                      40
                                                                                                                      31
 147                                                                                                      30




 146
                                                                                                          20




 145                                                                                                                              35            35               32                        32              32
                                                                                                                      28                                                       29
 144                                                                                                      10




 143                                                                                                       0




  01.01.2011     01.04.2011    01.07.2011   01.10.2011    01.01.2012     01.04.2012    01.07.2012                01.01.2011   01.04.2011   01.07.2011         01.10.2011   01.01.2012   01.04.2012      01.07.2012
                                                                                                                                 Gross international reserves         Assets of the National Oil Fund

Source: National Bank of Kazakhstan                                                                     Source: National Bank of Kazakhstan


   Refinance Rate                                                                                              Max. Interest Rates on Newly Opened Retail Deposits
 11.0%                                                                                                   11.0%

 10.0%                                                                                                   10.0%

  9.0%                                                                                                         9.0%                                                                                                  9%
  8.0%                                                                                                         8.0%

  7.0%                                                                                                         7.0%

  6.0%                                                                                                         6.0%                                                                                                  6%
                                                                                                 5.5%
  5.0%                                                                                                         5.0%

  4.0%                                                                                                         4.0%

  3.0%                                                                                                         3.0%
    01.01.2011    01.04.2011   01.07.2011   01.10.2011   01.01.2012    01.04.2012   01.07.2012                  01.01.2011    01.04.2011   01.07.2011     01.10.2011       01.01.2012   01.04.2012      01.07.2012
                                                                                                                                                     in KZT                 in FX

Source: National Bank of Kazakhstan                                                                     Source: Kazakhstan Deposit Insurance Fund


back to content                                                                                     Halyk Bank                                                                                                       3
Analyst Handout                                                                                                                                                                      01.01.2011 – 01.07.2012

    Banking Sector of Kazakhstan
   Total Assets                                                                                                     Equity
KZT tn                                                                                                     KZT tn
  15.0
                                                                                                                    1.8
  14.5
                                                                                                                    1.6
  14.0                                                                                                                                                                                                                1.6
                                                                                                                    1.4
  13.5
                                                                                               13.5                 1.2
  13.0
                                                                                                                    1.0
  12.5
  12.0                                                                                                              0.8

  11.5                                                                                                              0.6
  11.0                                                                                                              0.4                                                                                               0.4
  10.5                                                                                                              0.2
  10.0                                                                                                              0.0
        01.01.2011    01.04.2011    01.07.2011   01.10.2011   01.01.2012   01.04.2012    01.07.2012                   01.01.2011       01.04.2011    01.07.2011    01.10.2011     01.01.2012    01.04.2012    01.07.2012

                                                                                                                                         Sector           Sector excl. BTA Bank, Alliance Bank, Temir Bank



   Total Deposits                                                                                                   Deposits by Currency
KZT tn
                                                                                                             100%




  9.0
                                                                                                8.5
                                                                                                             90%




  8.0                                                                                                        80%
                                                                                                                             35%           31%           31%            33%           31%           34%           31%
  7.0                                                                                                        70%




  6.0                                                                                                        60%




  5.0                                                                                                        50%




  4.0                                                                                                        40%




                                                                                                                             65%           69%           69%            67%           69%           66%           69%
  3.0                                                                                                        30%




  2.0                                                                                                        20%




  1.0                                                                                                        10%




   -                                                                                                          0%




   01.01.2011        01.04.2011    01.07.2011    01.10.2011   01.01.2012    01.04.2012    01.07.2012                      01.01.2011    01.04.2011    01.07.2011     01.10.2011    01.01.2012    01.04.2012    01.07.2012
                                                                                                                                                               KZT                   FX
Source: National Bank of Kazakhstan, unconsolidated, KAS


back to content                                                                                       Halyk Bank                                                                                                     4
Analyst Handout                                                                                                                                                                   01.01.2011 – 01.07.2012

    Banking Sector of Kazakhstan
   Loan Portfolio                                                                                              Loans by Currency
KZT tn
                                                                                                               100%




  12.0
                                                                                                     11.0      90%




  10.0                                                                                                                                                               37%          35%            34%           33%
                                                                                                               80%



                                                                                                                          42%           41%           39%
                                                                                                               70%




   8.0
                                                                                                               60%




                                                                                                      7.0
   6.0                                                                                                         50%




                                                                                                               40%




   4.0                                                                                                                                                               63%          65%            66%           67%
                                                                                                               30%



                                                                                                                          58%           59%           61%
                                                                                                               20%




   2.0
                                                                                                               10%




    -                                                                                                           0%




    01.01.2011        01.04.2011     01.07.2011    01.10.2011      01.01.2012    01.04.2012   01.07.2012               01.01.2011    01.04.2011    01.07.2011    01.10.2011    01.01.2012     01.04.2012    01.07.2012
                                        Gross loans                  Net loans                                                                                 KZT                      FX


   Loan to Deposit Ratio                                                                                       NPLs 90+
  100%                                                                                                        35%

                                                                                                              30%                                                                                                31%
   95%
                                                                                                              25%
   90%
                                                                                                              20%
                                                                                                                                                                                                                 18%
   85%                                                                                                        15%
                                                                                                      83%     10%
   80%
                                                                                                              5%

   75%                                                                                                        0%
         01.01.2011     01.04.2011    01.07.2011      01.10.2011   01.01.2012    01.04.2012   01.07.2012              01.01.2011    01.04.2011    01.07.2011    01.10.2011    01.01.2012     01.04.2012    01.07.2012

                                                                                                                           Total banking sector           Banking sector excl. BTA Bank, Alliance Bank, Temir Bank
Source: National Bank of Kazakhstan, unconsolidated, KAS


back to content                                                                                        Halyk Bank                                                                                                 5
Analyst Handout                                                                                            01.01.2011 – 01.07.2012

   Ratings, 01.07.2012
  Sovereign Credit Ratings of Kazakhstan                                 Credit Ratings of Halyk Bank
  Moody's Investors Service                                              Moody's Investors Service
  Country Ceiling: Foreign Currency Debt            Baa2 / P-2           Long Term Bank Deposits Rating               Ba2
  Country Ceiling: Foreign Currency Bank Deposits    Ba1 / NP            Short Term Bank Deposits Rating            Not prime
  Government Bonds                                    Baa2               Bank Financial Strength Rating                D-
  Outlook                                             Stable             Outlook                                     Stable

  Fitch Ratings                                                          Fitch Ratings
  Long Term Issuer Default Rating                     BBB                Long Term Issuer Default Rating              BB-
  Short Term Issuer Default Rating                     F3                Short TermIssuer Default Rating               B
  Local Currency Long Term Issuer Default Rating      BBB+               Viability Rating                             bb-
  Country Ceiling                                     BBB+               Support Rating                                4
  Outlook                                            Positive            Outlook                                     Stable

  Standard and Poor`s                                                    Standard and Poor`s
  Foreign Long Term                                  BBB+                Long Term Rating                             BB
  Foreign Short Term                                  A-2                Short Term Rating                             B
  Local Long Term                                    BBB+                Outlook                                     Stable
  Local Short Term                                    A-2
  Outlook                                            Stable




back to content                                                  Halyk Bank                                                     6
Analyst Handout                                                                                                                                             01.01.2011 – 01.07.2012


    Industry Ranking – Top 5 Kazakhstan Banks

   Total Assets,01.07.2012              Amount,    Market   Total Deposits, 01.07.2012 *             Amount,    Market   Total Liabilities, 01.07.2012                Amount,    Market
                                         KZT bn     share                                             KZT bn     share                                                 KZT bn     share
  1   Halyk Bank                           2,513    18.7%   1   Halyk Bank                              1,807   21.4%    1   BTA Bank                                   2,657    20.3%
  2   KKB                                  2,457    18.2%   2   KKB                                     1,365   16.1%    2   Halyk Bank                                 2,233    17.1%
  3   BTA Bank                             1,444    10.7%   3   Bank CenterCredit                        696     8.2%    3   KKB                                        2,011    15.4%
  4   Bank CenterCredit                    1,058     7.8%   4   BTA Bank                                 671     7.9%    4   Bank CenterCredit                            973     7.4%
  5   ATF Bank                               930     6.9%   5   ATF Bank                                 536     6.3%    5   ATF Bank                                     869     6.6%
                                                                * excluding SPV deposits

  GrossLoans,01.07.2012                 Amount,    Market   Total Corporate Deposits, 01.07.2012 *   Amount,    Market   Net Income, 1H 2012 *                        Amount,    Market
                                         KZT bn     share                                             KZT bn     share                                                 KZT bn     share
  1   KKB                                  2,369    21.6%   1   Halyk Bank                              1,182    21.8%   1   Halyk Bank                                  26.5     38.7%
  2   BTA Bank                             2,070    18.9%   2   KKB                                       779    14.4%   2   Tsesna Bank                                  7.4     10.8%
  3   Halyk Bank                           1,391    12.7%   3   BTA Bank                                  413     7.6%   3   Kaspi Bank                                   7.0     10.3%
  4   Bank CenterCredit                      832     7.6%   4   Sberbank                                  356     6.6%   4   Sberbank                                     5.4      7.9%
  5   ATF Bank                               815     7.4%   5   ATF Bank                                  352     6.5%   5   HomeCreditBank                               4.4      6.4%
                                                                * excluding SPV deposits                                     * excluding banks with negative income


  Net Loans,01.07.2012                  Amount,    Market   Total Retail Deposits, 01.07.2012        Amount,    Market   Fee and Commission Income, 1H 2012 *         Amount,     Market
                                         KZT bn     share                                             KZT bn     share                                                 KZT bn      share
  1   KKB                                  1,496    21.3%   1   Halyk Bank                               625    20.5%    1   Kaspi Bank                                   16.1     21.8%
  2   Halyk Bank                           1,063    15.2%   2   KKB                                      586    19.2%    2   Halyk Bank                                   14.2     19.2%
  3   Bank CenterCredit                      698    10.0%   3   Bank CenterCredit                        382    12.5%    3   KKB                                           9.0     12.3%
  4   ATF Bank                               639     9.1%   4   Kaspi Bank                               267     8.8%    4   Bank CenterCredt                              7.6     10.4%
  5   Sberbank                               423     6.0%   5   BTA Bank                                 258     8.5%    5   Tsesna Bank                                   5.0      6.8%
                                                                                                                             * excluding banks with negative income




Source: National Bank of Kazakhstan, unconsolidated, KAS




back to content                                                                            Halyk Bank                                                                                     7
Analyst Handout                                                                                                                                                         01.01.2011 – 01.07.2012



     Halyk Bank vs. Sector
    Growth Rate of Total Assets                                                                             Growth Rate of Equity
   140%                                                                                                    140%

   130%                                                                                                    120%
                                                                                                   124%
   120%                                                                                                                                                                                                104%
                                                                                                           100%
   110%                                                                                            110%
                                                                                                            80%
   100%
                                                                                                            60%
    90%
                                                                                                            40%
    80%
                                                                                                            20%
    70%
                                                                                                                                                                                                       13%
    60%                                                                                                         0%
       01.01.2011   01.04.2011     01.07.2011   01.10.2011      01.01.2012     01.04.2012   01.07.2012           01.01.2011   01.04.2011    01.07.2011   01.10.2011   01.01.2012    01.04.2012   01.07.2012

                                  Halyk Bank          Sector excl. Halyk Bank                                                               Halyk Bank         Sector excl. Halyk Bank


    Growth Rate of Gross Loans                                                                              Growth Rate of Net Loans
   140%                                                                                                    140%

   130%                                                                                                    120%
                                                                                                   121%                                                                                               113%
   120%
                                                                                                           100%
   110%                                                                                            114%
                                                                                                            80%
   100%
                                                                                                            60%
    90%
                                                                                                            40%
    80%

    70%                                                                                                     20%

    60%                                                                                                         0%
       01.01.2011    01.04.2011    01.07.2011   01.10.2011       01.01.2012    01.04.2012   01.07.2012           01.01.2011   01.04.2011    01.07.2011   01.10.2011   01.01.2012   01.04.2012    01.07.2012

                                  Halyk Bank                Sector excl. Halyk Bank                                                        Halyk Bank           Sector excl. Halyk Bank
 Source: National Bank of Kazakhstan, unconsolidated, KAS

back to content                                                                                    Halyk Bank                                                                                          8
Analyst Handout                                                                                                                                                       01.01.2011 – 01.07.2012



       Halyk Bank vs. Sector
      Growth Rate of Total Deposits                                                                      Loan to Deposit Ratio
    140%                                                                                                120%

    130%                                                                                         129%   100%
                                                                                                                                                                                                  89%
                                                                                                 123%
    120%                                                                                                 80%

    110%                                                                                                 60%                                                                                      59%

    100%                                                                                                 40%

     90%                                                                                                 20%

     80%                                                                                                 0%
         01.01.2011   01.04.2011     01.07.2011   01.10.2011    01.01.2012    01.04.2012   01.07.2012         01.01.2011   01.04.2011   01.07.2011   01.10.2011   01.01.2012   01.04.2012   01.07.2012

                                   Halyk Bank            Sector excl. Halyk Bank                                                    Halyk Bank             Sector excl. Halyk Bank



      Growth Rate of Corporate Deposits                                                                  Growth Rate of Retail Deposits
    140%                                                                                                140%
                                                                                                                                                                                                  137%
    130%                                                                                        130%    130%                                                                                      129%

    120%                                                                                                120%
                                                                                                 115%
    110%                                                                                                110%

    100%                                                                                                100%

     90%                                                                                                 90%

     80%                                                                                                 80%
         01.01.2011   01.04.2011    01.07.2011    01.10.2011   01.01.2012     01.04.2012   01.07.2012         01.01.2011   01.04.2011   01.07.2011   01.10.2011   01.01.2012   01.04.2012   01.07.2012

                                   Halyk Bank             Sector excl. Halyk Bank                                                  Halyk Bank              Sector excl. Halyk Bank


   Source: National Bank of Kazakhstan, unconsolidated, KAS


back to content                                                                                  Halyk Bank                                                                                          9
Analyst Handout                                                                                                                                                                                   01.01.2011 – 01.07.2012

           Market Position of Halyk Bank
   4,000
           Total Assets                                                                                            25.0%
                                                                                                                                     Total Deposits *
                                                                                                                                                                                                          21.7%
                                                                                                                                                                                                                                        25.0%




                                                                                                                                        20.5%        21.2%                                                               21.4%
                                                                                  18.7%         18.7%                                                             20.2%                     19.5%
                           17.5%                                   17.3%
   3,500




              16.8%                     16.9%         16.8%
                                                                                                                   20.0%


                                                                                                                                                                               18.7%                                                    20.0%




                                                                                                                                                                                                           1,805         1,807
                                                                                                                             2,000




   3,000




                                                                                                                   15.0%




                                                                                  2,486          2,513                                               1,538                                  1,519
                                                                                                                                                                                                                                        15.0%




                                                                                                                                                                  1,500        1,464
   2,500




                            2,163        2,149        2,187        2,222                                                     1,500
                                                                                                                                        1,397
              2,024                                                                                                10.0%



                                                                                                                                                                                                                                        10.0%




   2,000




                                                                                                                   5.0%


                                                                                                                                                                                                                                        5.0%
                                                                                                                             1,000


   1,500




                                                                                                                   0.0%

                                                                                                                                                                                                                                        0.0%


   1,000




                                                                                                                              500




                                                                                                                   -5.0%
                                                                                                                                                                                                                                        -5.0%
    500




      -
              #2            #2           #2            #2           #2             #1             #1               -10.0%        0
                                                                                                                                         #2           #1           #1           #1           #1              #1           #1            -10.0%




            01.01.2011   01.04.2011   01.07.2011   01.10.2011    01.01.2012     01.04.2012    01.07.2012                              01.01.2011   01.04.2011   01.07.2011   01.10.2011   01.01.2012    01.04.2012     01.07.2012

                                       KZT bn                      Market share                                                                                 KZT bn                     Market share

                                                                                                                            * excluding SPV deposits


           Gross Loans                                                                                                               Net Loans
                                                                                                                             1,300                                                                                                               20.0%




              13.5%
   1,700




                           13.3%        13.4%                     13.1%
                                                     12.6%                      12.7%          12.7%       14.0%
                                                                                                                                        15.0%        14.7%        14.7%                      14.7%                        15.2%
   1,600
                                                                                                                             1,200
                                                                                                                                                                                14.2%                        13.8%                               15.0%




                                                                                                           12.0%


   1,500




                                                                                               1,391                         1,100



                                                                                                                                                                                              1,046                        1,063
                                                                  1,372
                                                                                 1,342                                                                                                                       1,009
                                                                                                                                                                                                                                                 10.0%

   1,400                                                                                                   10.0%




                                        1,255        1,275                                                                   1,000




                                                                                                                                         939                        949          959
              1,224                                                                                                                                    922
   1,300




                           1,217                                                                           8.0%

                                                                                                                                                                                                                                                 5.0%




   1,200                                                                                                                       900




                                                                                                           6.0%




                                                                                                                                                                                                                                                 0.0%
   1,100




                                                                                                                               800


                                                                                                           4.0%




   1,000




                                                                                                                                                                                                                                                 -5.0%


                                                                                                                               700

                                                                                                           2.0%


    900




               #3           #3           #3            #3          #3             #3            #3                             600
                                                                                                                                         #2           #2            #2           #2           #2              #2            #2                   -10.0%
    800                                                                                                    0.0%




            01.01.2011   01.04.2011   01.07.2011   01.10.2011   01.01.2012    01.04.2012     01.07.2012                               01.01.2011   01.04.2011   01.07.2011   01.10.2011    01.01.2012     01.04.2012    01.07.2012

                                       KZT bn                    Market share                                                                                    KZT bn                       Market share


 Source: National Bank of Kazakhstan, unconsolidated, KAS



back to content                                                                                            Halyk Bank                                                                                                              10
Analyst Handout                                                                                                                                                                         01.01.2011 – 01.07.2012


          Market Position of Halyk Bank
          Total Retail Deposits                                                                                           Total Corporate Deposits *
    700                                                                                               22.5%
                                                                                                                                                                                                                                     25.0%




                                                                                            625                                                                                                    22.1%        21.8%
                          22.0%                                                  596                              1,400

                                                                                                                                                20.9%
    600

                                                                  559                                 22.0%
                                                                                                                                 19.9%                       19.7%
                                        527          540                                                                                                                               19.1%
                           512                                                                                                                                            17.6%                     1,209                            20.0%




              486                                                                                                                                                                                                1,182
                                                                                                                  1,200
    500                                                                                               21.5%




                                                                                                                                                1,026
             21.6%                                                                                                                                            973
                                                                                                                                                                                                                                     15.0%


    400




                                       21.2%        20.7%                       20.7%                 21.0%


                                                                                                                                                                                        960
                                                                                                                  1,000




                                                                                                                                    911                                    924
                                                                                           20.5%
    300


                                                                 20.2%                                20.5%



                                                                                                                                                                                                                                     10.0%




                                                                                                                   800




    200                                                                                               20.0%




                                                                                                                                                                                                                                     5.0%

                                                                                                                   600




    100                                                                                               19.5%




      0
              #1            #1           #1          #1           #1             #1         #1        19.0%        400
                                                                                                                                    #2           #1           #2            #1          #1             #1         #1                 0.0%




          01.01.2011    01.04.2011   01.07.2011   01.10.2011   01.01.2012   01.04.2012   01.07.2012                              01.01.2011   01.04.2011   01.07.2011   01.10.2011   01.01.2012   01.04.2012   01.07.2012
                                      KZT bn                      Market share                                                                              KZT bn                      Market share

                                                                                                                 * excluding SPV deposits


          Retail Current Accounts                                                                                         Corporate Current Accounts
                                                                                38.7%      38.8%                          1200


                                                                                                                                                                                                               35.4%        40.0%




    200



                          37.6%                     37.8%                                                39.0%

                                                                                                                                                                                                  32.9%                     35.0%




                                                                 36.7%                                                                           29.0%
    180



                                       36.1%                                                160                           1000

                                                                                                                                                             27.6%
                                                                                                                                                                                                                863
                                                                                                         37.0%
                                                                                                                                                                                                                            30.0%




                                                                                                                                                                         24.5%        24.8%        843
             34.7%                                                                                                                  22.5%
    160




                                                                  139            140                                                                                                                                        25.0%


                                                                                                         35.0%
                                                                                                                           800




                                                     122
    140




                                        120
                           109
                                                                                                                                                                                                                            20.0%



    120



              103                                                                                        33.0%
                                                                                                                                                  576         566          548         544
                                                                                                                           600                                                                                              15.0%



    100




                                                                                                                                      382
                                                                                                         31.0%                                                                                                              10.0%


     80




                                                                                                                           400



                                                                                                                                                                                                                            5.0%

     60
                                                                                                         29.0%




                                                                                                                                                                                                                            0.0%
     40

                                                                                                                           200



                                                                                                         27.0%



                                                                                                                                                                                                                            -5.0%
     20




      0
              #1           #1            #1           #1           #1            #1          #1          25.0%               0
                                                                                                                                      #2           #1          #1          #1          #1           #1          #1          -10.0%




           01.01.2011   01.04.2011   01.07.2011   01.10.2011   01.01.2012   01.04.2012   01.07.2012                               01.01.2011 01.04.2011 01.07.2011 01.10.2011 01.01.2012 01.04.2012 01.07.2012

                                     KZT bn                      Market share                                                                              KZT bn                       Market share


back to content                                                                                    Halyk Bank                                                                                                          11
Analyst Handout                                                                                                                                                           01.01.2011 – 01.07.2012
            Market Position of Halyk Bank
   Source: National Bank of Kazakhstan, unconsolidated, KAS


            Gross Fee and Commission Income                                                                                   Net Fee and Commission Income
     12.0                                                                                            25.0%                      28.3%
               21.1%        19.5%                                                                                      14.0

                                                                                                                                         25.7%
                                             17.7%        17.1%                          16.9%       20.0%




     10.0

                                                                              15.7%                                    12.0
                                                                                                                                                        21.9%
                                                                                           8.3       15.0%

                                                                                                                                                                   20.3%                      20.0%
                                                              7.7                                                                                                                   18.3%
      8.0


                             7.1               7.3                              7.0                  10.0%
                                                                                                                       10.0




                6.0                                                                                                                                                                            7.7
                                                                                                                        8.0




                                                                                                                                                            6.8     7.1
      6.0                                                                                            5.0%

                                                                                                                                           6.6                                       6.5
                                                                                                                        6.0
                                                                                                                                 5.6
                                                                                                     0.0%




      4.0




                                                                                                                        4.0
                                                                                                     -5.0%




      2.0




                                                                                                     -10.0%             2.0




      0.0
                #1            #1               #1             #1                #2         #2        -15.0%
                                                                                                                                 #1        #1               #1      #1                #2       #2
                                                                                                                        0.0




              1Q 2011      2Q 2011           3Q 2011     4Q 2011             1Q 2012     2Q 2012                               1Q 2011   2Q 2011       3Q 2011    4Q 2011          1Q 2012   2Q 2012

                                      KZT bn                           Market share
                                                                                                                                                   KZT bn                  Market share *




            Net Interest Income                                                                                               Net Income
                                                                                                              30.0%    25.0




     35.0

                            23.1%                                                                                                        49.8%
               20.6%                          19.4%           19.7%             19.6%
                                                                                                              25.0%

                                                                                                                                41.6%                             31.0%                      33.4%
     30.0
                                                                                           17.9%              20.0%    20.0
                                                                                                                                                       25.4%
                             24.2                                                                                                                                                   10.1%
     25.0
                                                                                                              15.0%


                                                                                                                                                                                              15.6
                                               20.9            20.5              21.6       20.8
               19.9                                                                                           10.0%    15.0




     20.0




                                                                                                              5.0%


                                                                                                                                           10.6                                      10.9
     15.0
                                                                                                              0.0%     10.0
                                                                                                                                                            9.2     9.2
                                                                                                                                 7.4
                                                                                                              -5.0%



     10.0




                                                                                                              -10.0%    5.0




      5.0



                                                                                                              -15.0%




      0.0
                #2            #2                #2             #2                #2          #2               -20.0%
                                                                                                                                 #1        #1               #2      #1               #2        #1
                                                                                                                        0.0




              1Q 2011      2Q 2011           3Q 2011      4Q 2011              1Q 2012    2Q 2012                              1Q 2011   2Q 2011       3Q 2011    4Q 2011          1Q 2012   2Q 2012
                                     KZT bn                           Market share *                                                               KZT bn                   Market share *

    * excluding banks with negative income

    Source: National Bank of Kazakhstan, unconsolidated, KAS


back to content                                                                                    Halyk Bank                                                                                    12
Analyst Handout                                                                                                                        01.01.2011 – 01.07.2012

   Market Penetration of Halyk Bank
  Outlets (total – 566), 01.07.2012                                                     POS-terminals (total – 5,365), 01.07.2012
                                   29        33           22                                                                 175         497
                         37                                                                              210         202
                                                                32                                                                                368
           23      28                                                                       244    213




 16                                                                                   349
                                                                          69                                                                                   271




                                                                     33                                                                                  193
                              22                                                                               119
                                              71    28                                                                            480 206
                  23                    43                                                        275                      217
                                                               57                                                                                1,346




  ATMs (total – 1,913), 01.07.2012                                                      Multikiosks (total – 590), 01.07.2012
                         81        74        88       166                                                21                      24         47
                                                                                                                     22
                                                               118                                                                                44
      67           102                                                                      25     29




 93                                                                                    20                                                                      45
                                                                          169




                                                                     81                                                                                   27
                                                                                                               25
                              81
                                              186   112                                                                           71   49
                  126                   118                                                       36                       40
                                                               251                                                                                65




back to content                                                                 Halyk Bank                                                                      13
 
Analyst Handout                                                                                                            01.01.2011 – 01.07.2012

     Shareholder Structure of Halyk Bank, 05.07.2012
                                                                                                                                  Preferred shares
                                                                                           Common shares
                                                 Total shares owned                                            Preferred shares     owned as % of
                                                                       Common shares         owned as % of
                              Total number of   as % of total shares                                                owned (NIN    preferred shares
 №           Name                                                         owned (NIN        common shares
                               shares owned          outstanding (on                                           KZ1P33870117,       outstanding (on
                                                                       KZ1C33870011)        outstanding (on
                                                 consolidated basis)                                           KZ1P33870216)          consolidated
                                                                                         consolidated basis)
                                                                                                                                             basis)

     JSC Holding Group
 1                               755,997,382                 59.8%        755,997,382                69.4%                    -                   -
     ALMEX

     JSC Accumulated
 2   Pension Fund of Halyk       162,851,804                 12.9%         66,136,771                 6.1%          96,715,033              55.1%
     Bank

     held through GDR
     program (ISIN:
 3                               249,622,388                 19.7%        249,622,388                22.9%                    -                   -
     US46627J3023,
     US46627J2033)

     JSC “Sovereign Wealth
 4                                 6,232,499                  0.5%                   -                     -         6,232,499               3.6%
     Fund “Samruk-Kazyna”

 5   Other                        90,393,768                  7.1%         17,820,167                 1.6%          72,573,601              41.3%

 6   Total issued              1,698,500,612                      -     1,308,415,960                      -       390,084,652                    -

     held as treasury stock
 7                             (433,402,771)                       -    (218,839,252)                      -     (214,563,519)                    -
     by the Bank

     held by Group
 8                              (26,239,252)                       -      (1,805,041)                      -      (24,434,211)                    -
     Companies

     Total outstanding (on
 9                             1,265,097,841                  100%      1,089,338,798                 100%         175,521,133               100%
     consolidated basis)




back to content                                                         Halyk Bank                                                                14
Analyst Handout                                                                                         01.01.2011 – 01.07.2012


  Board of Directors of Halyk Bank, 01.07.2012              Management Board of Halyk Bank, 01.07.2012
Alexander Pavlov                                         Umut Shayakhmetova
Chairman, Independent Director                           Chairperson of the Management Board

Umut Shayakhmetova                                       Marat Almenov
Member of the Board, Chief Executive Officer             Deputy Chairman: Retail Banking

Kadyrzhan Damitov                                        Dauren Karabayev, CFA
Member of the Board, Independent Director                Deputy Chairman: International Activities, Treasury and Subsidiaries

Franciscus Cornelis Wilhelmus Kuijlaars                  Aliya Karpykova
Member of the Board, Independent Director                Deputy Chairperson: Finance and Accounting

Christof Ruehl                                           Saule Kishkimbayeva
Member of the Board, Independent Director                Deputy Chairperson: Corporate Banking

Kairat Satylganov                                        Stanislav Kosobokov
Member of the Board, CEO of JSC Holding Group Almex      Deputy Chairman: SME Banking

Ulf Wokurka                                              Askar Smagulov
Member of the Board, Independent Director                Deputy Chairman: Operating Activity and Information Technologies

                                                         Kozhamurat Uskimbayev
                                                         Deputy Chairman: Security and Bad Loan Recovery




back to content                                       Halyk Bank                                                            15
Analyst Handout                                                                                                                                                                                 01.01.2011 – 01.07.2012



     Financial Overview of Halyk Bank
    Balance Sheet (KZT mln)                                                                                            Balance Sheet (USD mln)

                      01.01.2011   01.04.2011   01.07.2011   01.10.2011   01.01.2012   01.04.2012   01.07.2012                              01.01.2011   01.04.2011   01.07.2011   01.10.2011     01.01.2012   01.04.2012   01.07.2012
ASSETS                2,097,935    2,279,402    2,241,817    2,239,654    2,274,053    2,544,519    2,580,710       ASSETS                    14,223       15,644       15,373       15,134         15,324       17,219       17,272
Cash and cash                                                                                                       Cash and cash
                        392,898      278,562      380,870      518,435      519,991      813,011      842,600                                   2,664        1,912        2,612        3,503          3,504        5,502        5,639
  equivalents                                                                                                         equivalents
Obligatory                                                                                                          Obligatory
                         27,284       31,272       52,108       51,351       52,533       58,874       59,849                                     185          215          357          347            354          398          401
  reserves                                                                                                            reserves
Financial assets                                                                                                    Financial assets at
  at fair value                                                                                                       fair value
                          6,051        5,059        4,352        4,703        3,752        3,305        2,514                                      41           35           30           32             25           22           17
  through profit or                                                                                                   through profit or
  loss                                                                                                                loss
Amounts due                                                                                                         Amounts due from
                                                                                                                                                  136          146          140          170            142          150          169
  from credit            20,123       21,217       20,462       25,090       21,096       22,119       25,314         credit institutions
  institutions                                                                                                      Available-for-sale
Available-for-sale                                                                                                    investment                1,907        2,813        2,219        2,400          2,061        2,034        1,963
  investment            281,294      409,791      323,591      355,181      305,890      300,587      293,255         securities
  securities                                                                                                        Investments held
                                                                                                                                                1,183        2,158        1,713          520            531          610          412
Investments held                                                                                                      to maturity
                        174,419      314,402      249,856       77,013       78,854       90,077       61,531
  to maturity
                                                                                                                    Precious metals                11           17           11           14             12           20           11
Precious metals            1665        2,476        1,673        2,000        1,710        2,960        1,630
                                                                                                                    Loans to
Loans to                                                                                                                                        7,385        7,408        7,542        7,423          7,980        7,761        7,920
                      1,089,273    1,079,357    1,099,851    1,098,501    1,184,240    1,146,815    1,183,468         customers
  customers                                                                                                         Property and
Property and                                                                                                                                      434          437          437          434            428          423          422
                         63,988       63,642       63,704       64,264       63,515       62,471       63,078         equipment
  equipment                                                                                                         Assets held for
Assets held for                                                                                                       sale
                                                                                                                                                   66           66           66           65             64           64           49
                           9770        9,669        9,633        9,609        9,500        9,479        7,378
  sale
                                                                                                                    Goodwill                       21           21           21           21             21           21           21
Goodwill                  3,085        3,085        3,085        3,085        3,085        3,085        3,085
Intangible assets         5,834        5,711        5,716        5,707        5,914        5,836        5,694       Intangible assets              40           39           39           39             40           39           38
Insurance assets          9,274       12,880       15,324       12,111       13,550       16,795       19,929       Insurance assets               63           88          105           82             91          114          133

Other assets             12,977       12,279       11,592       12,604       10,300        9,105       11,385       Other assets                   88           84           79           85             69           62           76




Source: Halyk Bank’s Consolidated Financial Statements




back to content                                                                                                  Halyk Bank                                                                                                    16
 Analyst Handout                                                                                                                                                                                   01.01.2011 – 01.07.2012

    Financial Overview of Halyk Bank
   Balance Sheet (KZT mln)                                                                                                 Balance Sheet (USD mln)
                           01.01.2011   01.04.2011   01.07.2011     01.10.2011   01.01.2012   01.04.2012   01.07.2012                              01.01.2011   01.04.2011   01.07.2011   01.10.2011   01.01.2012   01.04.2012   01.07.2012
   LIABILITIES AND                                                                                                         LIABILITIES AND
                           2,097,935    2,249,402    2,241,817      2,239,654    2,274,053    2,544,519    2,580,710                                 14,223       15,439       15,373       15,134       15,324       17,219       17,272
EQUITY                                                                                                                  EQUITY
   Amounts due to                                                                                                          Amounts due to
                           1,415,755    1,561,490    1,528,754      1,490,847    1,557,476    1,835,776    1,835,312                                   9,598      10,717       10,483       10,074       10,495       12,423       12,283
customers                                                                                                               customers
   Amounts due to                                                                                                          Amounts due to
                              71,403       21,962         41,855      61,434       41,634       24,936       79,219                                      484          151          287          415          281          169          530
credit institutions                                                                                                     credit institutions
   Financial liabilities                                                                                                   Financial liabilities
at fair value through          2,910        3,356          2,342        2,950        2,547        2,055          623    at fair value through             20           23           16           20           17           14            4
profit or loss                                                                                                          profit or loss
   Debt securities                                                                                                         Debt securities
                             252,167      326,355        323,837     331,717      311,069      299,259      299,308                                    1,710        2,240        2,221        2,241        2,096        2,025        2,003
issued                                                                                                                  issued
   Provisions                  3,861        4,801          5,185        5,162        3,388        3,063        4,854      Provisions                      26           33           36           35           23           21           32
  Deferred tax liability       8,242        8,264          8,778        8,729        8,777        9,101        9,180      Deferred tax liability          56           57           60           59           59           62           61
  Insurance liabilities       15664        21,127         24,380      22,248       23,028       29,158       30,431       Insurance liabilities          106          145          167          150          155          197          204
  Other liabilities           10,049        9,048          8,621      15,811       15,833         9,799      13,517       Other liabilities               68           62           59          107          107           66           90
  Total liabilities        1,780,051    1,956,403    1,943,752      1,938,898    1,963,751    2,213,147    2,272,444      Total liabilities          12,068       13,428       13,329       13,102       13,233       14,977       15,208
  Share capital              143,695      143,695        143,695     143,695      143,695      143,695      143,695       Share capital                  974          986          985          971          968          972          962
   Share premium                                                                                                           Share premium
                                1352        1,386          1,390        1,191        1,157        1,222        1,183                                       9           10           10            8            8            8            8
reserve                                                                                                                 reserve
   Treasury shares               (93)     (39,967)       (39,967)    (39,959)     (39,960)     (39,956)     (72,362)       Treasury shares                (1)       (274)        (274)        (270)        (269)        (270)        (484)
   Retained earnings                                                                                                       Retained earnings
                             171,744      186,612        191,640     194,700      204,215      225,043      234,379                                    1,164        1,281        1,314        1,316        1,376        1,523        1,569
and other reserves                                                                                                      and other reserves
   Non-controlling                                                                                                         Non-controlling
                               1,186        1,273          1,307        1,129        1,196        1,368        1,371                                       8            9            9            8            8            9            9
interest                                                                                                                interest
  Total equity               317,884      292,999        298,065     300,756      310,302      331,372      308,266       Total equity                 2,155        2,011        2,044        2,032        2,091        2,242        2,063




Source: Halyk Bank’s Consolidated Financial Statements




 back to content                                                                                                   Halyk Bank                                                                                                       17
Analyst Handout                                                                                                                                                                         01.01.2011 – 01.07.2012

   Financial Overview of Halyk Bank
  Income Statement (KZT mln)                                                                                         Income Statement (USD mln)
                                                 1Q 2011    2Q 2011    3Q 2011    4Q 2011    1Q 2012    2Q 2012                                                     1Q 2011   2Q 2011   3Q 2011   4Q 2011   1Q 2012   2Q 2012
Interest income                                   41,635     41,729     41,803     40,999     39,668     39,903    Interest income                                     284       287       285       277       268       269
Interest expense                                 (19,859)   (20,087)   (19,585)   (19,363)   (17,116)   (16,885)   Interest expense                                   (136)     (138)     (134)     (131)     (116)     (114)
Net interest income before impairment                                                                              Net interest income before impairment
                                                  21,776     21,642     22,218     21,636     22,552     23,018                                                        149       149       152       146       152       155
charge                                                                                                             charge
Impairment charge                                (11,309)    (8,941)    (8,522)   (10,383)    (7,203)    (1,037)   Impairment charge                                   (77)      (61)      (58)      (70)      (49)       (7)
Net interest income                               10,467     12,701     13,696     11,253     15,349     21,981    Net interest income                                  71        87        93        76       104       148
Fees and commissions income                       11,629      9,570     10,026      9,598     12,771      9,669    Fees and commissions income                          79        66        68        65        86        65

Fees and commissions expense                      (1,084)    (1,627)    (1,173)    (1,684)    (1,312)    (1,384)   Fees and commissions expense                         (7)      (11)       (8)      (11)       (9)       (9)

Fees and commissions, net                         10,545      7,943      8,853      7,913     11,459      8,285    Fees and commissions, net                            72        55        60        53        77        56

Net gain from financial assets and liabilities                                                                     Net gain from financial assets and liabilities
                                                   (352)      (385)        523        642        205      (742)                                                         (2)       (3)        4         4         1        (5)
at fair value through profit or loss                                                                               at fair value through profit or loss

Net realized gain from available-for-sale                                                                          Net realized gain from available-for-sale
                                                   (248)        258         61         13        584        166                                                         (2)        2         0         0         4          1
investment securities                                                                                              investment securities

Net gain on foreign exchange operations            3,112      1,967      1,395      2,711      1,665      2,632    Net gain on foreign exchange operations              21        14        10        18        11        18

Insurance underwriting income                      2,864      3,402      3,971      4,734      4,064      4,697    Insurance underwriting income                        20        23        27        32        27        32

Share in net loss of associate                        (1)        (3)        (1)         1          0         (1)   Share in net loss of associate                        0         0        (0)        0         0        (0)
Other income                                         460        853        355      (275)        348      1,727    Other income                                          3         6         2        (2)        2        12
OTHER NON-INTEREST INCOME                          5,835      6,092      6,304      7,826      6,866      8,479    OTHER NON-INTEREST INCOME                            40        42        43        53        46        57
Operating expenses                               (10,538)   (11,491)   (11,742)   (12,607)   (11,270)   (13,300)   Operating expenses                                  (72)      (79)      (80)      (85)      (76)      (90)
Recoveries of provisions/(provisions)              (924)      (374)          6      1,771        352     (2,100)
                                                                                                                   Recoveries of provisions/(provisions)                (6)       (3)        0        12         2       (14)
Losses incurred from management of
                                                        -          -    (6,246)     1,083          0     (1,803)   Losses incurred from management of
pension assets                                                                                                                                                           0         0       (43)        7         0       (12)
                                                                                                                   pension assets
                                                                                                                   Insurance claims incurred, net of
Insurance claims incurred, net of reinsurance     (2,559)    (2,275)    (2,400)    (3,113)    (2,316)    (3,564)                                                       (17)      (16)      (16)      (21)      (16)      (24)
                                                                                                                   reinsurance

NON-INTEREST EXPENSES                            (14,021)   (14,140)   (20,382)   (12,866)   (13,234)   (20,767)   NON-INTEREST EXPENSES                               (96)      (97)     (139)      (87)      (89)     (140)
                                                                                                                   INCOME BEFORE INCOME TAX
INCOME BEFORE INCOME TAX EXPENSE                  12,826     12,596      8,471     14,126     20,440     17,978                                                         88        87        58        96       138       121
                                                                                                                   EXPENSE
Income tax expense                                (2,180)    (2,142)    (1,440)    (2,749)    (3,622)    (3,186)   Income tax expense                                  (15)      (15)      (10)      (19)      (24)      (22)

NET INCOME                                        10,646     10,454      7,031     11,377     16,818     14,792    NET INCOME                                           73        72        48        77       114       100




 Source: Halyk Bank’s Consolidated Financial Statements




back to content                                                                                             Halyk Bank                                                                                                 18
Analyst Handout                                                                                                                                                                                  01.01.2011 – 01.07.2012

         Financial Overview of Halyk Bank
         Net Loans                                                                                                                  Deposits by Type
KZT bn                                                                                                                 KZT bn
 1,250

                                                                                                                        2,000




                                                                       1,184                            1,183                                                                                               1,836        1,835
 1,200                                                                                                                  1,800




                                                                                       1,147                                                        1,561                                     1,557
 1,150
                                                                                                                        1,600
                                                                                                                                                                 1,529        1,491
            1,089                        1,100           1,099                                                                         1,416
 1,100
                         1,079                                                                                          1,400
                                                                                                                                                                                                             829          798
                                                                                                                        1,200



 1,050

                                                                                                                                                     860          823             800           847
                                                                                                                        1,000




 1,000
                                                                                                                                        919
                                                                                                                          800




  950



                                                                                                                          600




  900
                                                                                                                                                                                                            1,007        1,038
                                                                                                                          400




                                                                                                                                                     701          705             691           711
  850
                                                                                                                          200           497
                                                                                                                                0
  800




          01.01.2011   01.04.2011      01.07.2011      01.10.2011   01.01.2012       01.04.2012      01.07.2012                      01.01.2011   01.04.2011   01.07.2011   01.10.2011      01.01.2012   01.04.2012    01.07.2012

                                                                                                                                                               Current accounts          Term deposits

         Breakdown of Gross Loans                                                                                                   Deposits by Type of Depositors
KZT bn                                                                                                                 KZT bn

                                                                                                                        2,000



 1600




                                                                     1,476                             1,478                                                                                              1,836         1,835
                                                                                      1,445
           1,342         1,341           1,371           1,380                                                          1,800




                                                                                                                                                    1,561
 1400




                                                                       288 20%                          306 20%                                                  1,529                       1,557
                                                                                       289     20%
                                                                                                                        1,600


                                                                                                                                                                             1,491
                                         275     20%     282 20%                                                                       1,416
 1200

             270 20%      264 20%                                                                                       1,400




                                                                       205 14%         199     14%      200 14%
                          200 15%        206     15%     202 15%                                                                                                                                           1,233        1,203
             201 15%
 1000
                                                                                                                        1,200




                                                                                                                        1,000                       1,044         996          945             991
  800


                                                                                                                                        925
                                                                                                                         800




  600




                                 65%     890 65%         896 65%       983     67%     957 66%          973 66%          600




  400        871 65%      876
                                                                                                                         400




                                                                                                                                                     518          532          546             566          603          632
  200

                                                                                                                         200
                                                                                                                                        491
                                                                                                                            0
    0




         01.01.2011    01.04.2011   01.07.2011      01.10.2011      01.01.2012   01.04.2012          01.07.2012                      01.01.2011   01.04.2011   01.07.2011   01.10.2011     01.01.2012    01.04.2012   01.07.2012

                                           Corporate       SME       Retail                                                                                       Retail            Legal entities


Source: Halyk Bank’s Consolidated Financial Statements


back to content                                                                                                   Halyk Bank                                                                                                    19
Analyst Handout                                                                                                                                                           01.01.2011 – 01.07.2012


       Financial Overview of Halyk Bank
      Bonds Outstanding
                                                                                                                  Tenor,                                 Outstanding Amount
 NIN / ISIN                                         Currency            Issue Date          Maturity Date          years        Initial Amount               as of 01.07.2012 Coupon
 KZPC4Y10B190                                              KZT          31.12.2004             31.12.2014                10      4,000,000,000                        4,000,000,000          7.50%
 KZPC5Y10B197                                              KZT          11.04.2005             11.04.2015                10      4,000,000,000                        4,000,000,000          6.10%
 KZPC6Y10B195                                              KZT          06.07.2005             06.07.2015                10      3,000,000,000                        2,963,000,000          7.50%
 KZPC7Y10B193                                              KZT          02.11.2005             02.11.2015                10      5,000,000,000                        4,470,000,000         10.20%
 KZPC3Y10C018                                              KZT          20.04.2006             20.04.2016                10      4,000,000,000                        4,000,000,000         10.40%
 KZP02Y10C592                                              KZT          06.11.2008             06.11.2018                10      5,000,000,000                        5,000,000,000         13.00%
 XS0253878051/US40430AAA16                                 USD          11.05.2006             13.05.2013                  7       300,000,000                          270,250,000          7.75%
 XS0298931287/US40430AAB98                                 USD          03.05.2007             03.05.2017                10        700,000,000                          638,029,000          7.25%
 XS0358156510/US40430AAC71                                 USD          16.04.2008             16.10.2013                5.5       500,000,000                          490,500,000          9.25%
 XS0583796973/US46627JAB08                                 USD          28.01.2011             28.01.2021                10        500,000,000                          500,000,000          7.25%

      Amounts Due to Credit Institutions                                                                    Equity
KZT bn
 90
                                                                                                        KZT bn
                                                                                         79               340
                                                                                                                                                                                      331
 80




          71                                                                                                       318
 70
                                                                                                          320
                                                                                                                                                                         310                       308
                                                  61                                                                                           298          301
 60                                                                                                       300
                                                                                                                                  293

                                    42                        42
 50

                                                                                                          280




 40




                                                                                                          260




                                                                            25
                       22
 30




                                                                                                          240




 20




                                                                                                          220


 10




  0                                                                                                       200




       01.01.2011   01.04.2011   01.07.2011   01.10.2011   01.01.2012    01.04.2012   01.07.2012                01.01.2011     01.04.2011   01.07.2011   01.10.2011   01.01.2012   01.04.2012   01.07.2012




Source: Halyk Bank’s Consolidated Financial Statements

back to content                                                                                    Halyk Bank                                                                                         20
Analyst Handout                                                                                                                                01.01.2011 – 01.07.2012

                Financial Overview of Halyk Bank
            Interest Income                                                                     Interest Expense
KZT bn                                                                                      KZT bn
                    41.6      41.7        41.8                                                (21.0)




                                                                                                                  (20.1)
         42.0




                                                                                                        (19.9)
                                                           41.0                               (20.0)                        (19.6)    (19.4)
         41.0




                                                                               40.0
                                                                                              (19.0)




         40.0                                                        39.7
                                                                                              (18.0)




                                                                                                                                                    (17.1)      (17.0)
         39.0                                                                                 (17.0)




                                                                                              (16.0)


         38.0




                                                                                              (15.0)




         37.0




                                                                                              (14.0)




         36.0



                                                                                              (13.0)




         35.0                                                                                 (12.0)




                  1Q 2011   2Q 2011     3Q 2011          4Q 2011   1Q 2012   2Q 2012                   1Q 2011   2Q 2011   3Q 2011   4Q 2011       1Q 2012     2Q 2012



            Net Interest Income before Impairment Charge                                        Impairment Charge
KZT bn                                                                                      KZT bn
                                                                              23.0            12.0
                                                                                                        (11.3)
  23.0
                                                                    22.6
                                          22.2                                                                                        (10.4)
  22.0
                   21.8      21.6                         21.6                                10.0




                                                                                                                  (8.9 )
                                                                                                                            (8.5)
  21.0




                                                                                               8.0

                                                                                                                                                     (7.2)
  20.0




                                                                                               6.0


  19.0




  18.0


                                                                                               4.0




  17.0




                                                                                                                                                                (1.0)
                                                                                               2.0




  16.0




                                                                                                -
  15.0




                  1Q 2011   2Q 2011     3Q 2011          4Q 2011   1Q 2012   2Q 2012                   1Q 2011   2Q 2011   3Q 2011   4Q 2011       1Q 2012     2Q 2012




Source: Halyk Bank’s Consolidated Financial Statements

back to content                                                                        Halyk Bank                                                                       21
Analyst Handout                                                                                                                                                                             01.01.2011 – 01.07.2012

            Financial Overview of Halyk Bank
   Fee and Commission Income from Pension Fund                                                                       Fee and Commission Income from Transactional Banking
KZT bn                                                                                                      KZT bn
                                                                                5.5                                  10.0




      5.5       5.0
                                                                                                                      9.0
                                                                                                                                                                                     8.5                            8.6

                                                                                                                                                7.4               7.6
      3.5
                                                                                                                      8.0


                                                                                                                                                                                                     7.3
                                  2.2                           2.2                                                   7.0
                                                                                                                                 6.6

                                                                                               1.0
                                                                                                                      6.0




      1.5




                                                                                                                      5.0




                                                                                                                      4.0



    (0.5)




                                                                                                                      3.0




                                                                                                                      2.0


    (2.5)




                                                                                                                      1.0




                                                 (3.8)
                                                                                                                       -

    (4.5)




              1Q 2011          2Q 2011         3Q 2011        4Q 2011        1Q 2012         2Q 2012                           1Q 2011        2Q 2011         3Q 2011             4Q 2011          1Q 2012        2Q 2012


     Operating Expenses                                                                                                Number of Employees (Bank only)
KZT bn
                                                                                                                              9,509
   (16.0)
                                                                                                                                           9,423
                                                                                                             9,500


                                                                                                                                                          9,304
                                                                                              (13.3)                                                                      9,123            9,115
                                                                                                                                                                                                       9,011
   (14.0)




                                                              (12.6)
                                 (11.5)          (11.8)                                                      9,000
                                                                                                                                                                                                                     8,846
   (12.0)
                                                                              (11.3)
               (10.6)
   (10.0)
                                                                                               (5.7)
                                                 (5.3)         (6.3)                                         8,500




                                 (5.5)                                         (5.0)
    (8.0)

               (5.0)
                                                                                                             8,000


    (6.0)




    (4.0)



                                                                                               (7.7)
               (5.6)             (6.0)           (6.5)         (6.3)           (6.3)
                                                                                                             7,500




    (2.0)




                                                                                                             7,000

    (0.0)




              1Q 2011          2Q 2011         3Q 2011        4Q 2011        1Q 2012         2Q 2012                        01.01.2011   01.04.2011     01.07.2011      01.10.2011    01.01.2012     01.04.2012   01.07.2012

                       Salaries and other employee benefits             Other operating expenses


Source: Halyk Bank’s Consolidated Financial Statements

back to content                                                                                        Halyk Bank                                                                                                         22
Analyst Handout                                                                                                                              01.01.2011 – 01.07.2012

Financial Overview of Halyk Bank
      RoAE *                                                                                     RoAA *
  25.0%                                                                                       3.0%


                                                                                                                                                  2.8%

                                                                                                                                                             2.4%
  20.0%
                                                                   19.3%                      2.5%




                                                                             16.3%                                                  2.0%
                                                                                              2.0%
                                                                                                      1.9%      1.9%
  15.0%

                         13.5%                           13.9%
          13.0%
                                                                                              1.5%




                                                                                                                          1.2%
  10.0%
                                         9.0%
                                                                                              1.0%




   5.0%




                                                                                              0.5%




   0.0%                                                                                       0.0%




          1Q 2011       2Q 2011         3Q 2011          4Q 2011   1Q 2012   2Q 2012                 1Q 2011   2Q 2011   3Q 2011   4Q 2011       1Q 2012    2Q 2012



      Cost of Risk *                                                                             NIM *
   4.0%




                                                                                              5.5%




   3.5%
           3.4%                                                                                                                                              5.1%
                                                                                              5.0%
                                                                                                                                                  4.9%
   3.0%
                                                          2.9%                                                                      4.6%
                          2.6%
                                         2.5%                                                 4.5%

                                                                                                      4.3%      4.3%      4.3%
   2.5%




                                                                    2.0%                      4.0%




   2.0%




                                                                                              3.5%




   1.5%




                                                                                              3.0%


   1.0%




   0.5%
                                                                              0.4%            2.5%




                                                                                              2.0%
   0.0%




          1Q 2011       2Q 2011         3Q 2011          4Q 2011   1Q 2012   2Q 2012                 1Q 2011   2Q 2011   3Q 2011   4Q 2011       1Q 2012    2Q 2012


* annualized
Source: Halyk Bank’s Consolidated Financial Statements

back to content                                                                        Halyk Bank                                                                   23
Analyst Handout                                                                                                                              01.01.2011 – 01.07.2012

          Financial Overview of Halyk Bank
      Average Interest Rates on Interest-Earning Assets *                                        Average Interest Rates on Interest-Bearing Liabilities *
   9.5%                                                                                       8.0%




   9.0%

                                                          8.7%                8.8%
                                                                    8.6%                      7.0%




   8.5%


             8.2%         8.2%           8.2%                                                 6.0%




   8.0%




                                                                                              5.0%




                                                                                                      4.3%      4.3%                4.1%
   7.5%
                                                                                                                          4.0%
                                                                                              4.0%




                                                                                                                                                  3.4%
   7.0%
                                                                                                                                                             3.1%
                                                                                              3.0%




   6.5%




                                                                                              2.0%



   6.0%




                                                                                              1.0%

   5.5%




   5.0%                                                                                       0.0%




            1Q 2011     2Q 2011         3Q 2011          4Q 2011   1Q 2012   2Q 2012                 1Q 2011   2Q 2011   3Q 2011   4Q 2011       1Q 2012    2Q 2012



      Average Interest Rates on Loans *                                                          Average Interest Rates on Deposits *
  15.0%                                                                                       8.0%




            13.4%        13.3%           13.3%                                                7.0%




                                                         12.9%
  13.0%




                                                                   12.1%
                                                                             11.8%            6.0%




                                                                                              5.0%


  11.0%




                                                                                              4.0%
                                                                                                      3.6%      3.5%      3.3%      3.3%
   9.0%


                                                                                              3.0%
                                                                                                                                                  2.6%       2.4%
                                                                                              2.0%




   7.0%




                                                                                              1.0%




   5.0%                                                                                       0.0%




            1Q 2011     2Q 2011         3Q 2011          4Q 2011   1Q 2012   2Q 2012                 1Q 2011   2Q 2011   3Q 2011   4Q 2011       1Q 2012    2Q 2012


* annualized
Source: Halyk Bank’s Consolidated Financial Statements

back to content                                                                        Halyk Bank                                                                   24
Analyst Handout                                                                                                                                                                                          01.01.2011 – 01.07.2012

                 Financial Overview of Halyk Bank
             Cost-to-Income                                                                                                          Cost-to-Average Assets *
         45.0%

                                                                                                       41.8%                      3.0%




                                                     40.4%
                                                                                                                                                                                                                               2.4%
         40.0%




                                                                        35.2%
                                     33.6%                                                                                                                                                      2.2%
                                                                                                                                  2.5%




                                                                                                                                                            2.1%
         35.0%




                                                                                                                                                                              2.1%
         30.0%
                     28.7%                                                              28.8%                                     2.0%
                                                                                                                                             1.9%                                                               1.9%
         25.0%




                                                                                                                                  1.5%




         20.0%




         15.0%                                                                                                                    1.0%




         10.0%




                                                                                                                                  0.5%




          5.0%




          0.0%                                                                                                                    0.0%




                    1Q 2011         2Q 2011         3Q 2011             4Q 2011         1Q 2012        2Q 2012                              1Q 2011       2Q 2011         3Q 2011              4Q 2011         1Q 2012        2Q 2012


Source: Halyk Bank’s Consolidated Financial Statements                                                                   Source: Halyk Bank’s Consolidated Financial Statements


             Basel Capital Adequacy Ratios                                                                                           NBK Capital Adequacy Ratios
 23.0%




                                                                                                                          19.0%
                                                                                                                                           18.3%
                                                                                                                                                        17.5%
 22.0%




                                                                                                                                                                      17.1%            17.3%                       17.3%
 21.0%             20.5%         20.6%                                                      20.4%                         17.0%
                                                                                                                                                                                                       16.4%                      16.3%
                                                20.1%           19.9%
 20.0%                                                                                                   19.5%                                                                                                     14.2%
                                                                             19.1%                                        15.0%




                                                                                                                                           13.5%        13.5%
 19.0%
                                                                                                                                                                      12.6%           15.0%                                       12.2%
                                                                                                                          13.0%

                                                                                                                                                                                                       11.9%
 18.0%




                                                                                                                          11.0%




 17.0%                                                                                      17.8%
                   17.3%                                                                                                                   10.9%
                                                                                                                           9.0%




                                 16.8%                          16.6%        16.7%                       16.7%                                          9.6%                                                        9.7%
                                                                                                                                                                      9.4%             9.4%
 16.0%




                                                16.5%                                                                                                                                                  9.2%
 15.0%
                                                                                                                           7.0%


                                                                                                                                                                                                                                  8.1%

 14.0%                                                                                                                     5.0%




                 01.01.2011    01.04.2011     01.07.2011      01.10.2011   01.01.2012     01.04.2012   01.07.2012                        01.01.2011   01.04.2011    01.07.2011       01.10.2011    01.01.2012    01.04.2012    01.07.2012
                           Tier 1 capital adequacy (min 4%)                 Total capital adequacy (min 8%)                                           k1-1 (min 5%)                   k1-2 (min 5%)                k2 (min 10%)
* annualized
Source: Halyk Bank’s Consolidated Financial Statements
                                                                                                                         Source: National Bank of Kazakhstan

back to content                                                                                                     Halyk Bank                                                                                                        25
Analyst Handout                                                                                                                                                                                                        01.01.2011 – 01.07.2012

               Pension Fund of Halyk Bank
        Assets under Management                                                                                                                 Number of Pension Fund Clients
                               32.5%        33.5%         33.3%           33.1%          33.2%          33.0%                                                                                               27.7%            27.6%          27.9%
        1200

                  31.5%                                                                                                                 2,500                                                                                                         28.0%




                                                                                                                                                                                             27.3%
                                                                                           924            953
        1000



                                                                           878
                                                                                                                 30.0%                  2,400

                                                                                                                                                                               26.7%
                                                           839                                                                                                                                                                              2,320
                                                                                                                                                                                                                                                      27.0%




                                             822
                                762                                                                                                                                                                            2,266          2,283
         800
                   712                                                                                                                  2,300
                                                                                                                                                                25.9%
                                                                                                                 25.0%


                                                                                                                                                  25.6%                                      2,234                                                    26.0%




         600                                                                                                                            2,200
                                                                                                                                                                               2,162
                                                                                                                 20.0%




                                                                                                                                                                2,088                                                                                 25.0%




         400
                                                                                                                                        2,100
                                                                                                                                                  2,058
                                                                                                                 15.0%
                                                                                                                                                                                                                                                      24.0%


         200
                                                                                                                                        2,000




           0
                   #1           #1           #1            #1              #1              #1             #1     10.0%
                                                                                                                                        1,900
                                                                                                                                                   #1            #1             #1               #1            #1             #1             #1       23.0%




                01.01.2011   01.04.2011   01.07.2011    01.10.2011      01.01.2012   01.04.2012     01.07.2012                                  01.01.2011    01.04.2011     01.07.2011    01.10.2011    01.01.2012        01.04.2012    01.07.2012

                                          KZT bn                         Market share                                                                                        Thousand                            Market share


        Fee and Commission Income                                                                                                        Total Investment Income to Average Assets under Management
KZT bn                                                                                                                          5.0%




 6.5



                                                                                  5.5                                                           3.7%
                                                                                                                                                                                                                    3.1%
                                                                                                                                4.0%




                   5.0
                                                                                                                                3.0%
 4.5




                                                                                                                                                                      1.7%                                                 2.0%
                   4.1                                                             4.2                                          2.0%




                                                                                                                                                       1.0%    1.0%
                                 2.2                              2.2                                                                                                                             0.8%
                                                                                                                                                                                                                                         0.5%
 2.5




                                               (3.8)
                                                                                                                                1.0%




                                 1.1                              1.1                             1.0
                                                                                   1.2            1.3
                                                                                                                                0.0%


 0.5

                   1.0           1.0              1.2             1.1
                                                                                                  (0.3)
                                                                                                                               (1.0%)
                                                                                                                                                                                                                                   (0.2%)
 -1.5
                                                                                                                               (2.0%)
                                                                                                                                                                                        (0.8%)
                                               (5.0)                                                                           (3.0%)
                                                                                                                                                                                                      (2.0%)
 -3.5




                                                                                                                               (4.0%)




 -5.5
                                                                                                                               (5.0%)
                                                                                                                                                                               (4.0%)

                1Q 2011        2Q 2011        3Q 2011        4Q 2011             1Q 2012         2Q 2012                                         1Q 2011        2Q 2011          3Q 2011          4Q 2011           1Q 2012           2Q 2012

                 Income from administration of pension assets (0.05% of assets under management)
                                                                                                                                                                                       Halyk Bank        Sector
                 Investment income from management of pension assets (15% of investment income)


Source: National Bank of Kazakhstan
back to content                                                                                                          Halyk Bank                                                                                                                   26
Analyst Handout                                                                                                                                                                01.01.2011 – 01.07.2012

         Insurance Business (Kazakhinstrakh and Halyk Life)
     Gross Insurance Premiums                                                                                                       Net Insurance Premiums
  18.0                                                                                                      25.0%




                                                                                                                                      18.3%                                                              20.0%




  16.0
                           20.2%                                                                                             12.0

                                                                                                                                                                                                         18.0%




                                                                               17.6%                        20.0%

                                                                                                                                                                                    15.3%
  14.0
             16.1%                                                                                                           10.0
                                                                                                                                                                                                         16.0%




                                            12.2%             12.2%
                                                                                                                                                                                                         14.0%
  12.0                                                                                                      15.0%




                            10.0                                                10.1          11.3%                           8.0


                                                                                                                                                                    10.3%                                12.0%




              8.4                                                                                                                                                                     6.3
  10.0




                                                                                                            10.0%
                                                                                                                                        6.0      8.8%      9.0%                                8.7%      10.0%




   8.0                                                                                                                        6.0




                                                               6.3                              6.2
                                              5.4
                                                                                                                                                                                                         8.0%




   6.0                                                                                                      5.0%                                                      3.8                       3.7
                                                                                                                              4.0
                                                                                                                                                            3.1                                          6.0%




   4.0
                                                                                                                                                  2.6
                                                                                                                                                                                                         4.0%


                                                                                                            0.0%

                                                                                                                              2.0



   2.0

                                                                                                                                                                                                         2.0%




   0.0
              #2               #1             #1                 #2              #2             #1          -5.0%             0.0
                                                                                                                                        #1        #2        #2        #1              #2        #2       0.0%




            1Q 2011       2Q 2011        3Q 2011            4Q 2011           1Q 2012         2Q 2012                                 1Q 2011   2Q 2011   3Q 2011   4Q 2011         1Q 2012   2Q 2012

                                            KZT bn            Market share                                                                                 KZT bn    Market share



     Total Assets
KZT bn
                                                                                                                    14.0%




   70

                                                                                     11.7%       11.9%
                                      10.9%           10.5%           10.4%
                                                                                                                    12.0%   On 29 February 2012, A.M. Best Company international rating agency
                         10.0%
                                                                                                                            upgraded ratings of JSC “Kazakhinstrakh”:
   60




            9.2%                                                                       48             50            10.0%




   50




                                       40              38               40
                          37                                                                                        8.0%



   40




             32                                                                                                             financial strength rating – to B++(Good) (the highest rating in
                                                                                                                            Kazakhstan) from B+ (Good)
                                                                                                                    6.0%


   30




   20
                                                                                                                    4.0%



                                                                                                                            company credit rating – to bbb from bbb-
   10
                                                                                                                    2.0%

                                                                                                                            outlook – stable.
    0
             #3           #3           #3              #3               #3             #3         #3                0.0%




          01.01.2011   01.04.2011   01.07.2011      01.10.2011    01.01.2012     01.04.2012    01.07.2012
                                        KZT bn                        Market share

Source: National Bank of Kazakhstan

back to content                                                                                                     Halyk Bank                                                                          27

				
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