London, United Kingdom--(Newsfile Corp. - April 28, 2026) - Edison issues report on Halyk Bank (LSE: HSBK).

Halyk Bank offers a combination of an ROE in excess of 30%, a leading market position (close to 30% of total assets of Kazakhstan's commercial banking sector), solid cost discipline (cost-to-income ratio below 20%), continued focus on expanding its digital ecosystem (with encouraging growth in user engagement lately) and a sound capital base. The company, therefore, represents a quality exposure to the largest economy in Central Asia, whose real GDP has been growing at a 4%+ rate for the better part of the last decade and is geared towards the oil price. Investors' appreciation of Halyk Bank's value proposition is illustrated by the successful sale of a 7.6% stake by Halyk's majority shareholder (Almex Holding Group) in November 2025 (upsized from 4% initially offered) to domestic and international investors to improve the liquidity of Halyk's shares and broaden the shareholder register. Almex retained a majority stake and remains fully supportive of the bank's long-term success.

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