Halyk Bank recognized again as Kazakhstan’s best in trade finance
Baku, Azerbaijan, Feb. 6
Kazakhstan’s Halyk Bank is recognized yet again as the leading bank in Kazakhstan in trade finance for 2019, according to the Global Finance international magazine, Trend reports referring to Kapital.kz.
The annual exclusive survey was conducted for the 19th time. The Global Finance editorial board selected the best trade finance organizers in 95 countries, based on the opinions of industry analysts, company executives and technology experts.
The selection criteria included transaction volumes, global coverage, customer service, competitive prices, innovative technologies, as well as feedback from other banks and partners.
“The world of commerce is shaken by the rise of protectionism, technological change and the appearance of alternative suppliers of trade finance on the market. The winners of our Trade Finance Awards are conversant with these emerging trends and provide tips and solutions for their clients in order to reduce risks and achieve success in their international business,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance.
Kazakhstan’s Halyk Bank remains the leader in Kazakh trade finance market with a 43 percent market share in guarantees issued and 72 percent in letters of credit. By the end of 2018, the portfolio of issued guarantees doubled as a result of integration with Kazkommertsbank and amounted to 410.7 billion Kazakh tenges (KZT), while the portfolio of letters of credit grew by 12 percent to 66.3 billion KZT.