Halyk Savings Bank of Kazakhstan informed on completion of the government entry to its capital
05.06.09 17:51
/KASE, June 5, 09/ - Halyk Savings Bank of Kazakhstan (Almaty), the listed
company of Kazakhstan Stock Exchange (KASE), provided to KASE the following
press release:
quotation start
On June 5, 2009, Joint-stock company "Sovereign Wealth Fund "Samruk-Kazyna
"(the "Fund") and JSC "Halyk Bank" ("Halyk Bank" or the "Bank") successfully
finalised transaction on placement of 196,232,499 preferred shares of the Bank to
the Fund for KZT 33 billion.
Thus, the Bank's capitalisation program has been completed within the time
frames set by the Government's Plan of Measures on providing support to the
banking sector. The funds under the program of refinancing small and medium
enterprises, mortgages and real sector of the economy for the total amount of
KZT 95.7 billion are also utilized in an efficient manner. In total, Halyk Bank
disbursed more than 90%, or more than KZT 140 billion, of the funds allocated by
the Government for stabilization of economy within realization of anti-crisis
measures.
Umut Shayakhmetova, Chairperson of Halyk Bank highlighted: "According to the
terms of agreements signed with the Government and the Fund, the Bank's
capitalization has been executed in 2 stages. The first stage was completed on 27
March 2009 when the Fund purchased 20.9% of the Bank's common shares for
KZT 27 billion. The second stage was finalised after the additional placement of
196,232,499 preferred shares at KZT 168.4 per share on 29 May 2009. Both
instruments are treated as Tier 1 capital which increased by KZT 60 billion as a
result of the transaction. The Bank's regulatory capital grew by 26% since the
beginning of the year. This considerably increases our opportunities on the
banking sector, including lending to the economy. Thus, currently Halyk Bank is
one of the most capitalised banks in Kazakhstan. We are confident that the
Government's participation in the Bank's capital would contribute to further
strengthening of trust from the Bank's clients and partners as well as the Bank's
positions on the financial sector of Kazakhstan".
Placement of common and preferred shares by the Bank has been conducted in
compliance with all requirements under Kazakhstan law (including requirements
related to pre-emptive purchase rights of the existing shareholders and GDR
holders), terms and conditions of the Bank's international agreements and listing
rules of London Stock Exchange and Kazakhstan Stock Exchange.
After finalization of transaction on the Fund's participation in Halyk Bank's
capital, Holding Group ALMEX JSC (parent company of Halyk Bank) retains control
over the Bank with 54.1% of the Bank's common shares. The Fund will not interfere
in operational activities of the Bank and plans to act as a shareholder within a
limited period of time. In this connection, Holding Group ALMEX JSC has the right
to buy back common and preferred shares placed to the Fund during a five-year
period.
Halyk Bank Press Service
tel. +7 7272 590 816
www.halykbank.kz
quotation end
[2009-06-05]