Halyk Bank of Kazakhstan OJSC will increase capital by KZT3.5bn - bank supervision

/Kazakhstan today, Jan 10, 02/ - Halyk Bank of Kazakhstan OJSC will increase its capital by KZT3.5bn in year 2002, informed acting Chairman of HBK OJSC Kairat Satylganov at press-conference on January 10 in Almaty. This issue along with establishment of staff changes in the supervision of HBK OJSC was agenda at general meeting of shareholders of the bank in new composition which will take place on January 29,2002, noted Satylganov K. "Taking into account assets and liabilities volume growth capital of the bank also should rise in accordance with the National bank normative and performance of requirements on transition to international standards", said Satylganov K. At the same time, Satylganov K. noted that decision how the capital will be raised has not been made yet. According to Satylganov words, increase of bank capital will allow activate bank work with respect to attraction of western credit lines, population deposits and also perform necessary normative requirements of the National Bank. As Satylganov informed, strategic development plan of HBK OJSC is being processed currently. Its final variant will be presented at the beginning of February. "The most important in strategic plan is that Halyk bank is a population bank and we will take it into consideration and also that it should be the first bank in Kazakhstan", declared Satylganov K. "These are healthy ambitions and in nearest three years we will show it since it can be realized and it is real", he added. Same opinion belongs to acting Chairman of the Board of directors of HBK OJSC Anvar Saidenov who was before Chairman of the Board of HBK OJSC. "Main parameters of bank's development are historically connected with its activity. Work with population anyway will be one of main directions of bank activity", said Saidenov. "If changes are possible, then they will not be significant and drastic", he noted. "Improvement of work within main directions in which bank is developing now will take place", emphasized A. Saidenov. Currently authorized capital of Halyk bank of Kazakhstan OJSC, which is one of three largest banks of the country, is KZT5.4bn, owners' equity - KZ8.1bn. assets for the year 2001 increased by 25.8% and totaled KZT130bn. Net income based on 2001 results is more than KZT400m, rise is almost 2 times with respect to net income of previous year. Bank has wide branch network including 632 units: 20 oblast and regional, 157 district branches and 455 settlement and cash departments. Currently 33.33% shares of the bank belong to the group of companies headed by Agys LTD. Consortium consists of following companies - "Dakot", "Karat24", "Agys LTD", "Тара-Invest" и "AMB". Shareholders of the bank are also Delta LLP (15.94%), Corporation Asia- Invest LLP (13.28%), Firm Almex LLP - 9.96%, Central securities depositary CJSC (14.5%) and others ( more than 13%).