Halyk Bank announces new board chairman

ALMATY - Halyk Bank JSC, Kazakhstan’s largest financial institution, has announced a change in its leadership with the appointment of Arman Galiaskarovich Dunayev as the new Chairman of the Board of Directors, effective May 1, 2025. The change comes following the early resignation of Alexander Sergeevich Pavlov, who stepped down from his role as Chairman and member of the Board.

During his tenure, Pavlov was credited with significant contributions to the bank’s development, including the implementation of best international practices in corporate governance and sustainable development. The bank’s Board of Directors, Internal Audit Service, and Corporate Secretary reportedly functioned effectively under his leadership.

Arman Galiaskarovich Dunayev, an Independent (LON:IOG) Director, was elected at an in-person meeting of the Board of Directors held today. His term will last one year, concluding at the next Annual General Shareholders’ Meeting when a new Board of Directors will be elected. Dunayev’s extensive experience includes former high-ranking governmental roles such as First Vice Minister of Finance and Minister of Finance of the Republic of Kazakhstan, as well as leadership positions in financial markets and financial organizations. He also serves on the Boards of Directors of several of the bank’s subsidiaries.

The Board of Directors of Halyk Bank is now composed of seven individuals, including Dunayev as Chairman and six other directors, among them the CEO Umut Bolatkhanovna Shayakhmetova.

Halyk Bank has been a prominent player in the Kazakh financial market for over a century, offering a wide array of services such as banking, insurance, leasing, brokerage, asset management, and lifestyle services. The bank is listed on multiple stock exchanges, including the Kazakhstan Stock Exchange, the London Stock Exchange (LON:LSEG), and the Astana International Exchange.

As of December 31, 2024, Halyk Bank reported total assets of approximately KZT 18.5 trillion and holds a dominant market share in lending to the real economy sector in Kazakhstan. The bank also maintains the largest customer base and the most extensive branch network in the country, with operations extending into Georgia and Uzbekistan.

The bank’s stability and reliability have been affirmed by leading international rating agencies, including Moody’s Investors Service (Baa1 Stable outlook), Standard and Poor’s (NYSE:SPY) (BBB- Stable outlook), and Fitch Ratings (BBB- Stable outlook).

This leadership transition is based on a press release statement from Halyk Bank.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.