The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Halyk: the retail leader

Kazakh banks hit the capital buffers

In January Grigory Marchenko became the CEO of Halyk Bank, the successor of the Kazakh part of the old Soviet savings bank, Sberbank. Kazakhstan's former central bank governor spoke to Euromoney's Christopher Pala about his goals and challenges as head of the venerable institution.

What are Halyk's strengths?

Halyk Bank is number three by assets but we are number one in household deposits, in payment cards, where we have 70% of the market, and in mortgage lending. We have the largest pension fund in the country – bigger than the state one – with 25% of the market. We have an insurance company and leasing subsidiary that are either first or second.

Last year we had our best year ever. Our assets grew by 57% to $3.1 billion. Our capital grew by 60% to $290 million, and net profits before audit were $63 million.

What are your goals?

First, we should really develop more as a financial group, not only as a bank. We want to develop all these entities – pensions, insurance, leasing, brokerage – as a group and to sell the whole range of financial services through our bank network.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree