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Halyk Bank SWOT & PESTLE Analysis

ID : 52815153| May 2021| 12 pages

COMPANY PROFILE -Halyk Bank

Business Sector :Banking and Financial Services

Operating Geography :Kazakhstan and Central Asia

About Halyk Bank :

Halyk Bank, headquartered in the city of Almaty in Kazakhstan, has branches in Russia, Tajikistan, Georgia, Kyrgyzstan and Uzbekistan. It is one of the largest commercial savings bank of Kazakhstan founded in 1923. The bank is the legal successor of the Soviet-era Sberbank in Kazakhstan. Halyk Bank offers foreign currency exchange services, various commercial, corporate and retail banking services, custodial services and securities brokerage. Halyk Bank merged with Kazkommertsbank on 27 July 2018. It has been awarded with two prestigious awards by ‘Global Finance’ - a renowned international magazine, bestowing it with titles running as “Best Investment Bank in Kazakhstan 2019” and “Best Equity Bank in Central and East Europe 2019” . In 2020 it was announced as the winner in the “Best Digital Transformation Initiative – Go Digital” category by Global business outlook. As of May 2020, Halyk bank had 16,387 employees.
Halyk Bank's Unique Selling Point or USP lies in it being the largest bank of Kazakhstan, along with having a 35% market share. Halyk Bank's mission statement reads "We create a universal banking facility with a modern technology infrastructure, wide network of branches, highly qualified employees and an effective risk - management system. Our priority is to cooperate with all categories of clients, to offer them competitive products and a quality service. We provide effective placement and increscent of clients funds and shareholders capital. We are opened for all everybody - for clients, shareholders, regulatory bodies."

Halyk Bank Revenue :


KZT367,924 million - FY ending 31st December 2019 (y-o-y growth 16.33%)
KZT316,274 million - FY ending 31st December 2018

Competitive Analysis of Halyk Bank

SWOT
PESTLE
The SWOT analysis of Halyk Bank is presented below in a matrix followed by the detailed analysis report:
StrengthsWeaknesses
1. Market leader in Kazakhstan
2. Highly profitable organization
3. High physical presence within the nation
4. Low cost funding to attract borrowers
5. Noteworthy presence in Eurasia
6. Diversification into both banking and non banking financial services
7. Leveraging additional offers with services to attract more customers
8. Methodology to avoid violation of compliances
1. Low focus towards environmental sustainability
2. Scourged with compliance violations
OpportunitiesThreats
1. Poised to benefit from the digital transformation
2. Retail demand benefitting banking sector
1. Rise of scams and frauds in the banking system
2. Dwindling oil prices winding down the demand from the corporate sector
3. Multiple regulations binding the banking sector
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Halyk Bank

Strength

1. Market leader in Kazakhstan: Halyk Bank is a leading bank in Kazakhstan and neighboring countries. It has the largest clientele and personnel in the nation. It is the largest agency to process pensions and other social payments. Being the largest service provider in various parameters in Kazakhstan, the bank has 626 branches, 4459 ATMs with 39% market share. The bank has 34.7% of current accounts, which has 0% interest rate and commands the highest market share of such accounts among peers. The company has over 4.2 million users of online banking portal and 162.3 thousand corporate users of advanced online banking portal, as of 2020. Among Global 2000 banks, rank of Halyk Bank shifted from 1599th to 1522nd. It won several awards in 2019, most noteworthy being the “Best Bank in Kazakhstan.”

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

1. Poised to benefit from the digital transformation: Digitization in banking has become vital for the survival of the sector. It gives a lean structure in the workforce, reduces corruption, increases convenience to customers, enhances accuracy, minimizes miscalculations, scales profitability by trimming down transportation of cash and fits with the changing customer journey hierarchy, like shopping through e-commerce, paying through cards, etc. Halyk Bank is massively investing in the digital transformation of its services. The bank has hired external consultants to revamp the digital infrastructure of the bank through the inputs of its 'Go Digital' division. The clients of the bank can order cards through the bank's website. The bank is boosting automation significantly. It is installing automatic embossing machines, so that customers could get their debit or credit cards printed themselves on providing necessary proof without any requirement of manual intervention. The bank has its own chat-bot, which provides a medium of interaction with consumers and helps the bank to mitigate grievances in an analytical way.

The remaining section of “Opportunity" is available only in the 'Complete Report' on purchase.

Threats

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • TBC Bank
  • International Bank of Azerbaijan
  • Pasa Bank

Major Brands :

  • Halyk Bank
  • Halyk Bank Georgia
  • Halyk Finance
  • Kazkommerts Securities
  • Halyk Insurance Company
  • Moskommertsbank
  • Hakyk Life
  • Halyk Bank Kyrgyzstan
  • Halyk Leasing
  • Halyk Bank Tajikistan
  • Halyk Collection
  • Kazteleport
  • Halyk Finservice
  • Halyk Project
  • KUSA Halyk
  • Halyk Aktiv
  • Halyk Aktiv 1
  • Tenge Bank
SWOT & PESTLE (combined)
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References used in Halyk Bank SWOT & PESTLE Analysis Report

1. Annual Report 2019 – https://halykbank.kz/storage/app/media/Investoram/Annual%20Report%202019.pdf
2. Kazakhstan: Green economy reforms gain momentum – https://www.eurasia.undp.org/content/rbec/en/home/presscenter/pressreleases/2018/kazakhstan--green-economy-reforms-gain-momentum.html
3. State of play: economy, investment and climate change in Kazakhstan – https://www.oecd-ilibrary.org/sites/a8bff43d-en/index.html?itemId=/content/component/a8bff43d-en
4 Astana admin court employees accused of forging 329 bank receipts – https://www.kazpravda.kz/en/news/incidents/astana-admin-court-employees-accused-of-forging-329-bank-receipts/?print=yes
5 Billions in Bailouts Still Can’t Heal Kazakhstan’s ‘Sick’ Banks – https://www.bloomberg.com/news/articles/2020-02-17/billions-in-bailouts-still-can-t-heal-kazakhstan-s-sick-banks
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Halyk bank SWOT and PESTLE analysis has been conducted by Tej Narayan Shaw and reviewed by senior analysts from Barakaat Consulting.

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