Contact Center: +7 (727) 259 69 00
+7 (727) 330 57 77



More >


Amendments to the tariffs for individuals

More >


New conditions and interest rates for individuals’ term deposits

More >


Altyn Bank in digital banking Altyn-i launched Apple Pay contactless payments

More >


Changes in standard documents forms

More >

International credit rating agency Fitch Ratings (Fitch) announced that it has affirmed the Issuer Long-term Default Rating (IDR) in foreign and national currency of Altyn Bank JSC (Subsidiary Bank of China CITIC Bank Corporation Ltd) (Altyn) at "BBB–", and assigned a Viability Rating (VR) at "bb -". The outlook is Stable. International credit ratings of the Bank remain the highest among private commercial banks in Kazakhstan.

According to Fitch, the Altyn's IDRs are driven by potential support from the parent, China CITIC Bank Corporation Ltd. (CITIC). In turn, CITIC's ratings (BBB / Stable) are driven by Fitch's opinion of the high likelihood of state support from China (A+/Stable) in the event of stress.  Fitch's view over Altyn’s support is based on CITIC’s strategic commitment to developing a subsidiary bank in Kazakhstan, potential reputational risks for CITIC in case of Altyn's default and the small cost of potential support.

Fitch has assigned the Bank a VR since the agency believes there is now sufficient clarity on future strategy, which implies a considerable degree of operational independence from the parent bank. Altyn's 'bb-' VR captures the bank's good asset quality, stable profitability, reasonable capitalization and a sizeable liquidity buffer.

Altyn’s CEO, Marat ALMENOV, emphasized that Altyn’s international credit ratings confirm strong positions of the bank in Kazakhstan’s financial market. He noted that Altyn’s ratings reflect the results of the medium-term strategy based on development of advanced banking technologies, maintaining high asset quality and improving customer service. "With the use of our own resources and support from our shareholders, leading financial institutions in Kazakhstan and China, we plan to introduce new financial products and expand the list of services available to our customers".


Reference information:

Altyn Bank JSC (SB of China CITIC Bank Corporation Ltd), former HSBC Bank Kazakhstan JSC (till November 2014) and SB of Halyk Bank of Kazakhstan JSC  (till April 2018). The bank has been present in Kazakhstan since 1998 and is a universal commercial Bank with a wide range of products and services for corporate and retail customers. Altyn Bank has 5 branches in Almaty, Astana, Astana International Financial Center, Atyrau, Aktau and 2 additional branches in Almaty. On April 24th, 2018, China CITIC Bank Corporation Limited has become the major shareholder of the Bank as a result of purchase of 50.1% stake from Halyk Bank of Kazakhstan. At the same time, China Shuangwei Investment Co., Ltd. acquired 9.9% of the Bank's share capital. The share of Halyk Bank of Kazakhstan is the remaining 40%.


China CITIC Bank Corporation Ltd was established in 1987. It is part of the CITIC Group and is the fifth largest Bank in China with assets of over USD 1 trillion. The Bank offers a wide range of services to corporate customers (corporate and investment banking, international business, factoring, custody services, etc.) and retail customers (retail banking, credit cards, consumer loans, asset management, private banking, online banking, etc.).


China Shuangwei Investment Co., Ltd., established in 2008, is a subsidiary of China National Tobacco Corporation engaged in major strategic investment projects in the banking, insurance, securities, energy and tobacco industries.

Halyk Bank of Kazakhstan JSC is a leading financial group in Kazakhstan operating in various segments, including retail, small and medium business, corporate banking, insurance, leasing, brokerage, and asset management. Halyk Bank has been listed on the Kazakhstan Stock Exchange since 1998 and on the London Stock Exchange since 2006. Halyk Bank has the largest customer base and branch network in the country and operates in Georgia, Kyrgyzstan, Russia, and Tajikistan.

For additional comments, contact:

Yermek Koichebayev,
Marketing Management
Tel.+7 (727) 356 61 79, ( int. 11 179)