Loading...

Halyk Savings Bank of Kazakhstan

LSE:HSBK
Snowflake Description

6 star dividend payer with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HSBK
LSE
$3B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Joint Stock Company Halyk Savings Bank of Kazakhstan, together with its subsidiaries, provides corporate and retail banking services primarily in the Republic of Kazakhstan, Russia, Kyrgyzstan, Tajikistan, and Georgia. The last earnings update was 40 days ago. More info.


Add to Portfolio Compare Print
HSBK Share Price and Events
7 Day Returns
-4.5%
LSE:HSBK
0.9%
GB Banks
0.5%
GB Market
1 Year Returns
-3.7%
LSE:HSBK
-9.3%
GB Banks
0.8%
GB Market
HSBK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Halyk Savings Bank of Kazakhstan (HSBK) -4.5% 1.3% 16.3% -3.7% 209.2% 35.8%
GB Banks 0.9% 7.9% 5.9% -9.3% 18.7% -10.6%
GB Market 0.5% 3.6% 7.6% 0.8% 15.9% 6.2%
1 Year Return vs Industry and Market
  • HSBK outperformed the Banks industry which returned -9.3% over the past year.
  • HSBK underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 0.8% over the past year.
Price Volatility
HSBK
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Halyk Savings Bank of Kazakhstan's competitors could be found in our database.

HSBK Value

 Is Halyk Savings Bank of Kazakhstan undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Halyk Savings Bank of Kazakhstan to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Halyk Savings Bank of Kazakhstan.

LSE:HSBK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= KZT4,848.46 * 18.7%
KZT905.35
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. KZT4,848.46
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:HSBK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.592 (1 + (1- 20%) (80.68%))
0.983
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.983 * 5.96%)
7.08%

Discounted Cash Flow Calculation for LSE:HSBK using Excess Returns Model Model

The calculations below outline how an intrinsic value for Halyk Savings Bank of Kazakhstan is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:HSBK Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (18.7% – 7.08%) * KZT4,848.46)
KZT561.86
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= KZT561.86 / (7.08% - 1.23%)
KZT9,592.08
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= KZT4,848.46 + KZT9,592.08
KZT14440.53
LSE:HSBK Discount to Share Price
Calculation Result
Exchange Rate KZT/USD
(Reporting currency to currency of LSE:HSBK)
0.003
Value per Share
(USD)
= Value per Share in KZT x Exchange Rate (KZT/USD)
= KZT14440.53 x 0.003
$38.23
Value per share (USD) From above. $38.23
Current discount Discount to share price of $11.75
= -1 x ($11.75 - $38.23) / $38.23
69.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Halyk Savings Bank of Kazakhstan is available for.
Intrinsic value
>50%
Share price is $11.75 vs Future cash flow value of $38.23
Current Discount Checks
For Halyk Savings Bank of Kazakhstan to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Halyk Savings Bank of Kazakhstan's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Halyk Savings Bank of Kazakhstan's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Halyk Savings Bank of Kazakhstan's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Halyk Savings Bank of Kazakhstan's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:HSBK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in KZT KZT874.41
LSE:HSBK Share Price ** LSE (2019-04-23) in USD $11.75
LSE:HSBK Share Price converted to KZT reporting currency Exchange rate (USD/ KZT) 377.73 KZT4438.33
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.35x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Halyk Savings Bank of Kazakhstan.

LSE:HSBK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:HSBK Share Price ÷ EPS (both in KZT)

= 4438.33 ÷ 874.41

5.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Halyk Savings Bank of Kazakhstan is good value based on earnings compared to the GB Banks industry average.
  • Halyk Savings Bank of Kazakhstan is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Halyk Savings Bank of Kazakhstan's expected growth come at a high price?
Raw Data
LSE:HSBK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
4.9%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.86x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

LSE:HSBK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.08x ÷ 4.9%

1.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Halyk Savings Bank of Kazakhstan is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Halyk Savings Bank of Kazakhstan's assets?
Raw Data
LSE:HSBK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in KZT KZT3,649.53
LSE:HSBK Share Price * LSE (2019-04-23) in USD $11.75
LSE:HSBK Share Price converted to KZT reporting currency Exchange rate (USD/ KZT) 377.73 KZT4438.33
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.51x
LSE:HSBK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:HSBK Share Price ÷ Book Value per Share (both in KZT)

= 4438.33 ÷ 3,649.53

1.22x

* Primary Listing of Halyk Savings Bank of Kazakhstan.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Halyk Savings Bank of Kazakhstan is overvalued based on assets compared to the GB Banks industry average.
X
Value checks
We assess Halyk Savings Bank of Kazakhstan's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Halyk Savings Bank of Kazakhstan has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

HSBK Future Performance

 How is Halyk Savings Bank of Kazakhstan expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Halyk Savings Bank of Kazakhstan expected to grow at an attractive rate?
  • Halyk Savings Bank of Kazakhstan's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Halyk Savings Bank of Kazakhstan's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Halyk Savings Bank of Kazakhstan's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:HSBK Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:HSBK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 4.9%
LSE:HSBK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2.6%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:HSBK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in KZT Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:HSBK Future Estimates Data
Date (Data in KZT Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 583,741 291,546 1
2021-12-31 562,226 281,297 3
2020-12-31 537,668 267,423 3
2019-12-31 494,682 250,042 3
LSE:HSBK Past Financials Data
Date (Data in KZT Millions) Revenue Cash Flow Net Income *
2018-12-31 550,448 200,614 244,264
2018-09-30 471,321 266,805 189,894
2018-06-30 433,555 -223,365 165,956
2018-03-31 404,974 -334,212 186,973
2017-12-31 343,597 73,323 163,486
2017-09-30 307,553 -36,614 160,113
2017-06-30 268,943 353,820 140,941
2017-03-31 253,674 70,029 135,318
2016-12-31 233,822 -188,454 120,166
2016-09-30 236,189 -33,935 115,969
2016-06-30 242,368 -232,771 117,990
2016-03-31 239,727 37,375 114,169

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Halyk Savings Bank of Kazakhstan's earnings are expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).
  • Halyk Savings Bank of Kazakhstan's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:HSBK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Halyk Savings Bank of Kazakhstan Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:HSBK Future Estimates Data
Date (Data in KZT Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1,265.46 1,265.46 1,265.46 1.00
2021-12-31 1,089.48 1,193.82 985.15 2.00
2020-12-31 1,047.52 1,146.94 948.10 2.00
2019-12-31 990.44 1,073.61 907.27 2.00
LSE:HSBK Past Financials Data
Date (Data in KZT Millions) EPS *
2018-12-31 874.41
2018-09-30 682.50
2018-06-30 603.78
2018-03-31 680.24
2017-12-31 594.79
2017-09-30 564.55
2017-06-30 512.62
2017-03-31 493.04
2016-12-31 438.56
2016-09-30 421.95
2016-06-30 429.31
2016-03-31 417.82

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Halyk Savings Bank of Kazakhstan is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Halyk Savings Bank of Kazakhstan's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Halyk Savings Bank of Kazakhstan has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

HSBK Past Performance

  How has Halyk Savings Bank of Kazakhstan performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Halyk Savings Bank of Kazakhstan's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Halyk Savings Bank of Kazakhstan's year on year earnings growth rate has been positive over the past 5 years.
  • Halyk Savings Bank of Kazakhstan's 1-year earnings growth exceeds its 5-year average (49.4% vs 17.6%)
  • Halyk Savings Bank of Kazakhstan's earnings growth has exceeded the GB Banks industry average in the past year (49.4% vs 42.2%).
Earnings and Revenue History
Halyk Savings Bank of Kazakhstan's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Halyk Savings Bank of Kazakhstan Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:HSBK Past Revenue, Cash Flow and Net Income Data
Date (Data in KZT Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 550,448.00 244,264.00 6,747.00
2018-09-30 471,321.00 189,894.00 6,971.00
2018-06-30 433,555.00 165,956.00 7,281.00
2018-03-31 404,974.00 186,973.00 6,151.00
2017-12-31 343,597.00 163,486.00 4,993.00
2017-09-30 307,553.00 160,113.00 3,611.00
2017-06-30 268,943.00 140,941.00 2,519.00
2017-03-31 253,674.00 135,318.00 2,476.00
2016-12-31 233,822.00 120,166.00 2,493.00
2016-09-30 236,189.00 115,969.00 3,266.00
2016-06-30 242,368.00 117,990.00 3,504.00
2016-03-31 239,727.00 114,169.00 3,696.00
2015-12-31 232,549.00 113,582.00 2,771.00
2015-09-30 239,049.00 114,355.00 3,211.00
2015-06-30 223,771.00 106,002.00 2,957.00
2015-03-31 211,200.00 103,836.00 2,802.00
2014-12-31 216,467.00 114,377.00 2,533.00
2014-09-30 194,132.00 108,132.00 2,302.00
2014-06-30 181,586.00 101,655.00 2,240.00
2014-03-31 174,522.00 90,488.00 2,354.00
2013-12-31 157,474.00 72,137.00 2,386.00
2013-09-30 158,797.00 66,961.00 2,447.00
2013-06-30 158,625.00 67,299.00 2,473.00
2013-03-31 160,533.00 66,778.00 2,364.00
2012-12-31 150,235.00 69,517.00 2,272.00
2012-09-30 140,561.00 66,437.00 2,187.00
2012-06-30 128,264.00 49,301.00 2,097.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Halyk Savings Bank of Kazakhstan has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Halyk Savings Bank of Kazakhstan used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Halyk Savings Bank of Kazakhstan improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Halyk Savings Bank of Kazakhstan's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Halyk Savings Bank of Kazakhstan has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

HSBK Health

 How is Halyk Savings Bank of Kazakhstan's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Halyk Savings Bank of Kazakhstan's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Halyk Savings Bank of Kazakhstan Company Filings, last reported 3 months ago.

LSE:HSBK Past Debt and Equity Data
Date (Data in KZT Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,065,646.00 1,052,202.00 1,979,339.00
2018-09-30 977,877.00 1,039,691.00 1,891,904.00
2018-06-30 889,655.00 1,003,611.00 1,951,583.00
2018-03-31 947,409.00 1,074,413.00 1,403,541.00
2017-12-31 934,457.00 1,211,574.00 1,985,235.00
2017-09-30 826,683.00 1,137,673.00 1,962,620.00
2017-06-30 754,781.00 508,674.00 1,323,881.00
2017-03-31 709,673.00 714,753.00 1,606,633.00
2016-12-31 665,593.00 722,026.00 2,114,512.00
2016-09-30 632,380.00 743,726.00 1,761,757.00
2016-06-30 587,916.00 714,947.00 2,030,906.00
2016-03-31 541,905.00 738,797.00 1,580,308.00
2015-12-31 529,928.00 759,951.00 1,607,334.00
2015-09-30 506,148.00 681,509.00 1,168,111.00
2015-06-30 475,291.00 553,703.00 660,590.00
2015-03-31 500,895.00 477,695.00 560,166.00
2014-12-31 475,221.00 415,686.00 566,322.00
2014-09-30 462,232.00 340,035.00 762,895.00
2014-06-30 437,773.00 264,040.00 724,351.00
2014-03-31 428,935.00 254,584.00 839,380.00
2013-12-31 392,179.00 285,740.00 496,240.00
2013-09-30 377,341.00 291,976.00 515,354.00
2013-06-30 354,394.00 274,152.00 636,950.00
2013-03-31 356,056.00 331,324.00 620,379.00
2012-12-31 339,639.00 315,031.00 550,535.00
2012-09-30 324,052.00 373,185.00 625,478.00
2012-06-30 308,266.00 376,008.00 895,248.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Halyk Savings Bank of Kazakhstan has an acceptable proportion of non-loan assets held.
  • Halyk Savings Bank of Kazakhstan's liabilities are made up of primarily low risk sources of funding.
  • Loans at Halyk Savings Bank of Kazakhstan are broadly funded by customer deposits.
  • Halyk Savings Bank of Kazakhstan's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Halyk Savings Bank of Kazakhstan has a low allowance for bad loans.
  • Halyk Savings Bank of Kazakhstan has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Halyk Savings Bank of Kazakhstan's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Halyk Savings Bank of Kazakhstan has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

HSBK Dividends

 What is Halyk Savings Bank of Kazakhstan's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.72%
Current annual income from Halyk Savings Bank of Kazakhstan dividends. Estimated to be 11.53% next year.
If you bought $2,000 of Halyk Savings Bank of Kazakhstan shares you are expected to receive $194 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Halyk Savings Bank of Kazakhstan's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Halyk Savings Bank of Kazakhstan's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:HSBK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:HSBK Future Dividends Estimate Data
Date (Data in KZT) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 629.46 1.00
2021-12-31 534.39 4.00
2020-12-31 506.61 4.00
2019-12-31 464.52 4.00
LSE:HSBK Past Annualized Dividends Data
Date (Data in KZT) Dividend per share (annual) Avg. Yield (%)
2019-04-23 431.200 9.715
2018-05-18 252.400 6.213
2018-03-16 252.400 5.983
2017-03-10 0.000 0.000
2016-11-18 0.000 0.000
2016-08-19 0.000 0.000
2016-05-17 0.000 0.000
2016-03-29 0.000 0.000
2015-05-21 125.600 8.005
2015-03-17 125.600 9.184
2014-04-30 68.000 4.228
2013-05-29 44.800 3.326
2013-05-28 44.800 3.956
2013-05-21 44.800 3.937
2009-04-24 11.000 1.471

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Halyk Savings Bank of Kazakhstan's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Halyk Savings Bank of Kazakhstan's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Halyk Savings Bank of Kazakhstan afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Halyk Savings Bank of Kazakhstan has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

HSBK Management

 What is the CEO of Halyk Savings Bank of Kazakhstan's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Umut Shayakhmetova
AGE 49
TENURE AS CEO 10.3 years
CEO Bio

Ms. Umyt Bolathanovna Shayakhmetova has been Chairman of Management Board and Chief Executive Officer of Joint Stock Company Halyk Savings Bank Of Kazakhstan (also known as Halyk Bank of Kazakhstan) since January 2009. Ms. Shayakhmetova has been an Executive Director at Joint Stock Company Halyk Savings Bank Of Kazakhstan since April 2009. She has been the Chairman of Management Board of Halyk Savings Bank Of Kazakhstan since November, 2004. She served as Management Director of JSC "Halyk Bank of Kazakhstan since 2000. Ms. Shayakhmetova has been in Banking system since 1997. She worked as specialist in finance structure ZAO DB “ABN AMRO Bank of Kazakhstan” from 1997 to 1998. She served as Chairman of the Management at KUPA “ABN AMRO Asset Management” from 1998 to 2000. She serves as the Chairperson of Joint-Stock Company Accumulating Pension Fund of Halyk Bank of Kazakhstan. She served as the Chairman of the Board and Director at JSC Subsidiary insurance company of Halyk Bank of Kazakhstan Halyk - Kazakhinstrakh until July 17, 2015. She served as Vice-Chairman of Management at ZAO DB “ABN AMRO Bank of Kazakhstan” from 2000 to 2004. Ms. Shayakhmetova serves as Member of the Management Board at Halyk Savings Bank Of Kazakhstan. In 1993, Ms. Shayakhmetova graduated from Russian University of Nations' Friendship named after P. Lumubyi with qualification "Bachelor of Economical Science" in 1996 and Rutgers University, USA, New Jersey, with MBA.

CEO Compensation
  • Insufficient data for Umut to compare compensation growth.
  • Insufficient data for Umut to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Halyk Savings Bank of Kazakhstan management team in years:

2.4
Average Tenure
45
Average Age
  • The tenure for the Halyk Savings Bank of Kazakhstan management team is about average.
Management Team

Umut Shayakhmetova

TITLE
Chairperson of the Management Board & Director
AGE
49
TENURE
10.3 yrs

Aliya Karpykova

TITLE
Deputy Chairperson of Management Board and Deputy Chairperson of Finance
AGE
48
TENURE
7.5 yrs

Zhannat Satubaldina

TITLE
Deputy Chairman of the Management Board
AGE
57
TENURE
0.8 yrs

Murat Koshenov

TITLE
Deputy Chairman of the Management Board
AGE
45
TENURE
4.6 yrs

Ertai Salimov

TITLE
Deputy Chairman of the Management Board & Deputy Chairman of Operations & Treasury
AGE
44
TENURE
4.2 yrs

Aslan Talpakov

TITLE
Deputy Chairman of Management Board and Deputy Chairman of SME Banking
AGE
43
TENURE
3.8 yrs

Nurlan Zhagiparov

TITLE
Deputy Chairman of the Management Board
AGE
41
TENURE
0.8 yrs

Dauren Sartayev

TITLE
Deputy Chairman of the Management Board
AGE
34
TENURE
0.8 yrs

Mikhail Kablashev

TITLE
Deputy Chairman of the Management Board & Deputy Chairman of IT Development
TENURE
0.1 yrs

Aivar Bodanov

TITLE
Deputy CEO & Member of the Management Board
AGE
56
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the Halyk Savings Bank of Kazakhstan board of directors in years:

10
Average Tenure
60
Average Age
  • The average tenure for the Halyk Savings Bank of Kazakhstan board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Alexander Pavlov

TITLE
Chairman of the Board
AGE
65
TENURE
15.1 yrs

Umut Shayakhmetova

TITLE
Chairperson of the Management Board & Director
AGE
49
TENURE
10 yrs

Christof Ruehl

TITLE
Independent Director
AGE
60
TENURE
11.8 yrs

Frank Kuijlaars

TITLE
Independent Director
AGE
60
TENURE
10 yrs

Arman Dunaev

TITLE
Independent Director
AGE
52
TENURE
5.6 yrs

Mazhit Tuleubekovich

TITLE
Director
AGE
69
TENURE
5 yrs

Anton Musin

TITLE
Independent Director
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Halyk Savings Bank of Kazakhstan's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Halyk Savings Bank of Kazakhstan has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

HSBK News

Simply Wall St News

Joint Stock Company Halyk Savings Bank of Kazakhstan (LON:HSBK): A Fundamentally Attractive Investment

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Joint Stock Company Halyk Savings Bank of Kazakhstan (LON:HSBK) due to its excellent fundamentals in more than one area. … company with a

Simply Wall St -

HSBK Company Info

Description

Joint Stock Company Halyk Savings Bank of Kazakhstan, together with its subsidiaries, provides corporate and retail banking services primarily in the Republic of Kazakhstan, Russia, Kyrgyzstan, Tajikistan, and Georgia. It operates through four segments: Corporate Banking, Small and Medium Enterprises Banking (SME), Retail Banking, and Investment banking. The company originates loans and guarantees; collects deposits; trades in securities and foreign currencies; executes transfers; and offers cash and payment card processing, and other banking services. Its products and services include current and correspondent accounts; various deposit products; investment savings products; credit and debit cards; consumer loans and mortgages; custody, cash, and foreign currency related services; overdrafts; other credit facilities; and letters of credit, trade finance products, foreign exchange, documentary, and capital market services. In addition, it offers leasing, telecommunications, broker and dealer, cash collection, and asset management services; and property and casualty, liability, personal, and life insurance products, as well as Internet, online, mobile, and SMS banking services. The company serves individuals, corporate clients and financial organizations, and SME clients and individual entrepreneurs. As of December 31, 2018, it operated through 23 regional branches, 121 sub-regional offices, and 503 cash settlement units. The company was founded in 1923 and is headquartered in Almaty, the Republic of Kazakhstan. Joint Stock Company Halyk Savings Bank of Kazakhstan is a subsidiary of JSC HG Almex.

Details
Name: Joint Stock Company Halyk Savings Bank of Kazakhstan
HSBK
Exchange: LSE
Founded: 1923
$3,452,751,999
293,851,234
Website: http://halykbank.kz
Address: Joint Stock Company Halyk Savings Bank of Kazakhstan
40 Al-Farabi Avenue,
Almaty,
A26M3K5,
Kazakhstan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE HSBK GDR EACH REPR 40 ORD SHS'REGS' (SPON) London Stock Exchange GB USD 14. Dec 2006
DB H4L1 GDR EACH REPR 40 ORD SHS'REGS' (SPON) Deutsche Boerse AG DE EUR 14. Dec 2006
BATS-CHIXE HSBKL GDR EACH REPR 40 ORD SHS'REGS' (SPON) BATS 'Chi-X Europe' GB USD 14. Dec 2006
KAS HSBK Common Shares Kazakhstan Stock Exchange KZ KZT 22. May 2009
Number of employees
Current staff
Staff numbers
16,131
Halyk Savings Bank of Kazakhstan employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:03
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/03/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.