Sberbank - Halyk Savings Bank of Kazakhstan GDR (H4L1) ... CIS Market Daily - March 15, 2022

Report

Sberbank

Andrew Keeley ...

Arthur Cherkesov
Cole Akeson
Dmitry Troshin
Ekaterina Usanova
Georgiy Ivanin
Mikhail Krasnoperov
Research Team

CIS Market Daily - March 15, 2022

MARKET COMMENT - RUBLE FLAT IN MOSCOW, UP 10% ABROAD ON EPHEMERAL NEGOTIATION HOPESThe third week of the market's forced suspension continues. Headlines suggesting some progress in Russia-Ukraine negotiations yesterday supported the ruble and dragged on oil, though no material outcomes have yet been reached. Global markets were generally risk-off. STORIES> Halyk Bank 4Q21 IFRS: Very strong year, awaiting thoughts on outlook> Russian retail: Food inflation outlook> Sovcomflot 4Q21 IFRS review: Surprisingly negative adjusted bottom line

15/03/2022 1 EN

Underlyings

Halyk Savings Bank of Kazakhstan GDR

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US46627J3023 Kazakhstan

Halyk Savings Bank of Kazakhstan JSC

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KZ000A0LE0S4 Kazakhstan

Sovcomflot

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RU000A0JXNU8 Moscow Exchange MICEX-RTS Russia

Provider

Sberbank

Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

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Analysts

Andrew Keeley

Arthur Cherkesov

Cole Akeson

Dmitry Troshin

Ekaterina Usanova

Georgiy Ivanin

Mikhail Krasnoperov

Research Team

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Halyk Bank of Kazakhstan JSC: Update following rating upgrade

Our credit view of Halyk Bank reflects its strong franchise (translating into sound net earnings), good capitalisation and high liquidity, against its substantial level of problem loans.

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Russian Consumer - Unemployment and Income: The Outlook for 2022

In its modern history, Russia has not suffered any major spikes in joblessness. Its unemployment rate has ranged from between 4.8% and 8.3% since 2005 (versus 3.6-9.9% in the US for the same period). However, considering the sectors currently affected and companies scaling down operations in Russia, we see 1.1 mln out of the total 71 mln jobs at risk. But because this comes amid a labor shortage, which emerged in late 2021, companies are aiming to hold on to personnel, while the government is announcing extra social support measures. In a conservative scenario, the unemployment rate could go u...

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CIS Market Daily - March 24, 2022

MARKET COMMENT - TRADING TO RESUME FOR DOMESTIC INVESTORS AHEAD OF THE NATO-G7-DM SUMMIT AND NEW SANCTIONSEquity trading resumes today after a four-week suspension, but nonresidents and short-sellers will not yet be welcomed back. In focus will be the summit of NATO, the G7 and the rest of the developed world, which was called to discuss the evolving responses to Russia's so-called "special military operation" against Ukraine. STORIES> Equity trading to resume today - but not for nonresidents> "Unfriendly" countries to pay for Russian gas in rubles> Weekly inflation still elevated at 1.9%; inf...

March 24, 2022 March 24, 2022 1 EN

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CIS Market Daily - March 15, 2022

WOOD Daily: AEGN GA; GTC PW; AQ RO; GEV CP; HSBK LI; BFT PW; MOH GA; KMGZ KZ; VGO PW

The Rear-View Mirror – EME markets: Greece rebounds, elsewhere mostly red

Halyk Bank of Kazakhstan JSC: Update following rating upgrade

Russian Consumer - Unemployment and Income: The Outlook for 2022

Russian Banks - What We Know at This Stage

CIS Market Daily - March 24, 2022

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