Main shareholder in Halyk Bank, Kazakhstan's largest bank, weighs a partial stake sale

Halyk Bank AO

04/11/2025 10:28

ALMATY, Nov 4 (Reuters) - Private investor firm Almex, the main shareholder in Kazakhstan's largest bank, Halyk Bank HSBK.KZ, said on Tuesday that it was considering a partial sale of its controlling stake in the bank on capital markets.

Almex, owned by the daughter of former Kazakh president Nursultan Nazarbayev, Dinara, and her husband, businessman Timur Kulibayev, holds a controlling stake of 69.5% in the bank.

"Almex is considering a number of alternative options to increase the liquidity of Halyk Bank's shares and GDRs, including a possible partial sale of its stake on the capital markets," the bank said in a statement.

Halyk Bank's net profit grew 39.4% year-on-year in the first half of 2025 to 528.6 billion tenge ($982 million), and the bank expects to earn about 1 trillion tenge in net profit this year.

($1 = 537.9000 tenge)

 (Reporting by Mariya Gordeyeva; Writing by Lucy Papachristou
Editing by Andrew Osborn)

 ((Lucy.Papachristou@thomsonreuters.com;))