Halyk Finance announces successful closing of consumer loan assignment & servicing transaction in Kazakhstan

/KASE, December 11, 13/ – Halyk Bank of Kazakhstan Subsidiary Halyk Finance (Almaty, in the headline – Halyk Finance) provided today to KASE the following information: quotation Hereby JSC “Eurasian Bank” (“Eurasian Bank” or the “Bank”) announces successful closing of a retail loan assignment & servicing transaction under which the Bank has assigned a portion of its consumer loan portfolio to one of Kazakhstan’s second-tier banks. As a result of this breakthrough transaction, Eurasian Bank had assigned a portfolio represented by unsecured standard consumer loans. The transaction was closed on December 3rd. Eurasian Bank recognizes this as a milestone transaction for the Bank as well as an undisputable precedent for Kazakhstan market. This deal will be followed by a series of similar transactions in the future. Closing such a transaction affirms both the professional approach of the Bank in terms of its acquisition procedures and risk management tools. Michael Eggleton, the CEO of Eurasian Bank, has stated “this pioneering transaction shows our ability to leverage the production of our regional retail network of over 1,500 manned points of presence in Kazakhstan to investors looking to increase their financial returns by diversifying their assets in a way they could not otherwise do. We are very excited to continue expanding this business model across these and other asset classes.” JSC “Halyk Bank’s Subsidiary “Halyk Finance” (“Halyk Finance”) is the Sole Financial Advisor of the Bank under assignment of a portion of its retail loan portfolio. ends [2013-12-11]