ALMATY, Aug 22 (Reuters) - Halyk Bank , Kazakhstan’s largest lender by assets, on Wednesday raised its 2018 profit guidance to more than 214 billion tenge ($592 million) from 207 billion tenge.
Halyk Chief Executive Umut Shayakhmetova, who announced the forecast at a briefing, said the bank expected faster loan book growth, higher interest income and positive impact from loan recoveries.
Halyk posted a 40 percent year-on-year plunge in second-quarter profit this week, which Shayakhmetova said was largely due to one-off expenses from the recognition of losses at KKB, another lender which Halyk has taken over.
Last year, London-listed Halyk reported a profit of 173.4 billion tenge. (Reporting by Mariya Gordeyeva, Writing by Olzhas Auyezov; Editing by Sunil Nair and Sherry Jacob-Phillips)