Halyk Bank of Kazakhstan reported net income of KZT 234.8 billion for Q1 2026, down 14.6% from a year ago.
Interest income rose 14.6% to KZT 721.1 billion, but net interest margin fell to 7.0% due to new reserve requirements.
Fee income plunged 26.1% due to lower buy-now-pay-later revenue after tighter regulations.
Operating costs increased 7.8%, driven by IT and VAT. Credit loss expense more than doubled to KZT 52.8 billion.
Total assets edged up to KZT 21.2 trillion, while loans fell 2.2% sequentially on seasonal effects.
Customer deposits dropped 3.1% from year-end 2025 to KZT 13.9 trillion.
The bank is listed on the London, Kazakhstan, and Astana exchanges under ticker HSBK.
