Halyk Savings Bank of Kazakhstan announces completion of transaction involving purchase of Subsidiary Bank "HSBC Bank Kazakhstan"
03.12.14 13:58
/KASE, December 3, 14/ – Halyk Savings Bank of Kazakhstan JSC (Almaty), whose
securities are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with following information statement of December 2, 2014:
quote
On 28 November 2014, JSC "Halyk Bank" (the Bank) completed the purchase of HSBC
Bank Kazakhstan, the subsidiary of HSBC Bank plc. The Bank became sole
shareholder and obtained full control over the purchased bank. This is a
landmark transaction for Kazakhstan banking history.
The purchased bank has been renamed into JSC "Altyn Bank" (SB of JSC "Halyk
Bank") ("Altyn Bank"). Altyn Bank is now a subsidiary of JSC "Halyk Bank" and
will operate as a separate legal entity.
The Bank’s Management believes that Altyn Bank shall allow Halyk Group
increasing its business with foreign companies represented in Kazakhstan,
including salary projects and payroll lending, as well as developing mortgage
lending to high quality customers. With its existing client base Altyn Bank
provides a perfect opportunity for promoting private banking and
internet-banking business.
Altyn Bank is 18th on the market in terms of total assets. Its share in total
assets of Halyk Bank is around 8%.
For further information please contact:
Halyk Savings Bank of Kazakhstan JSC
Viktor Skryl, Director, International Department
+7 727 259 04 27
unquote
[2014-12-03]