Joint Stock Company «Altyn Bank»

Altyn Bank JSC (SB of China Citic Bank Corporation Ltd), previously known as HSBC Bank Kazakhstan, established in Kazakhstan since 1998, has been acquired by and became a wholly owned subsidiary of Halyk Bank JSC in November 2014. With offices in four major cities in Kazakhstan and being a universal bank, Altyn Bank provides full range of products and services to corporate and retail clients across the country.    

   On May 18, 2018, Fitch Ratings has upgraded Altyn Bank's Long-Term Issuer Default Ratings (IDRs) to ‘BBB-‘ from ‘BB’ and removed the ratings from Rating Watch Positive (RWP). The Outlook on the IDRs is Stable.

   The rating action follows the acquisition of a 60% stake in Altyn Bank by China CITIC Bank Corporation Limited (BBB/Stable) and Shuangwei Investment Co., Ltd.

   Earlier on April 24, 2018 Halyk Bank of Kazakhstan JSC successfully completed a sale of a 60% stake in share capital to foreign investors: China CITIC Bank Corporation Limited acquired 50.1% of the shares and China Shuangwei Investment Co., Ltd. - 9.9% of the shares previously owned by Halyk Bank of Kazakhstan JSC. At the same time, the Kazakhstan shareholder’s remaining share of capital is 40%.