Kazakh bank Halyk Q1 profit falls 59 percent

* Net income 4.1 billion tenge

* Makes large impairment charges

ALMATY, June 24 - Kazakh bank Halyk <HSBKq.L> <HSBK.KZ> said on Wednesday its first-quarter net income fell 59 percent to 4.1 billion tenge .

Total assets shrank 4 percent in dollar terms during the first three months of this year, Halyk said in a statement.

Halyk reported negative net interest income in the first quarter due to an impairment charge -- provisions against bad loans -- of 28.3 billion tenge.

Kazakh banks face growing bad loans as growth in the central Asian country's oil-dominated economy is slowing down and some economist expect a contraction this year.

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