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12 March 2021 Joint Stock Company ' Halyk Savings Bank of Kazakhstan ' Consolidated financial results for the year ended 31 December 2020 Joint Stock Company ' Halyk Savings Bank of Kazakhstan ' and its subsidiaries ( together " the Bank " ) ( LSE : HSBK ) releases consolidated financial statements and independent auditors ' report for the year ended 31 December 2020 . Consolidated income statements KZT mln 12M 2020 12M 2019 Y - O - Y , % 4Q 2020 4Q 2019 Interest income 733,234 710,304 3.2 % 192,847 178,915 Y - O - Y , % 7.8 % Interest expense ( 333,741 ) ( 312,326 ) 6.9 % ( 94,373 ) ( 73,304 ) 28.7 % Net interest income before 399,493 397,978 0.4 % 98,474 credit loss expense 105,611 ( 6.8 % ) Fee and commission income 131,399 123,256 6.6 % 36,820 33,460 10.0 % Fee and commission expense ( 63,184 ) ( 54,646 ) 15.6 % ( 14,949 ) ( 15,311 ) ( 2.4 % ) Net fee and commission 68,215 68,610 ( 0.6 % ) 21,871 18,149 20.5 % income Net insurance income ( 1 ) 22,482 4,058 5.5x 8,222 3,313 148.2 % FX operations ( 2 ) 40,940 45,379 ( 9.8 % ) 19,974 14,976 33.4 % Gain / ( loss ) from derivative 6,625 operations and securities ( 3 ) ( 10,596 ) ( 162.5 % ) ( 1,574 ) ( 3,718 ) ( 57.7 % ) Other income , share in profit of associate , and income from 41,957 41,785 0.4 % 11,976 15,441 ( 22.4 % ) non - banking activities Credit loss expense ( 4 ) ( 26,918 ) ( 30,054 ) ( 10.4 % ) 8,984 ( 8,914 ) ( 1.0x ) Other credit loss expense ( 5,025 ) ( 1,308 ) 3.8x ( 1,920 ) ( 621 ) 3.1x Operating expenses ( 158,237 ) ( 5 ) ( 145,367 ) ( 6 ) 8.9 % ( 45,645 ) ( 7 ) ( 50,892 ) ( 6 ) Income tax expense Non - controlling interest ( 36,878 ) 1 ( 35,974 ) 2.5 % ( 12,355 ) ( 10,222 ) ( 10.3 % ) 20.9 % Net profit attributable to common shareholders 352,653 334,511 5.4 % 108,007 83,123 29.9 % Net interest margin , p.a. 4.7 % 5.3 % 4.4 % 5.4 % Return on average equity , p.a. 25.5 % 28.8 % 30.4 % 26.3 % Return on average assets , p.a. 3.6 % 3.7 % 4.3 % 3.6 % Cost - to - income ratio 26.8 % 25.4 % 28.9 % 33.0 % Cost of risk on loans to 0.4 % 0.7 % ( 1.0 % ) 1.1 % customers , p.a. insurance underwriting income ( gross insurance premiums written , net change in unearned insurance premiums , ceded reinsurance share ) less insurance claims incurred , net of reinsurance ( insurance payments , insurance reserves expenses , commissions to agents ) ; ( 1 ) ( 2 ) Net foreign exchange gain / ( loss ) ; ( 3 ) ( 4 ) Net gain / ( loss ) from financial assets and liabilities at fair value through profit or loss and net realised gain from financial assets at fair value through other comprehensive income ( FVOCI ) ; Total credit loss expense , including credit loss expense on loans to customers , amounts due from credit institutions , financial assets at FVTOCI , debt securities at amortised cost , net of allowance , cash and cash equivalents and other assets ; ( 5 ) Including loss from impairment of non - financial assets of KZT 5.1 bn ; ( 6 ) Including loss from impairment of non - financial assets of KZT 7.4 bn ; ( 7 ) Including loss from impairment of non - financial assets of KZT 0.9 bn ; 1