Halyk Bank (Kazakhstan) started servicing depositors of Kazagroprombank

/IRBIS, Dec.1, 00/ - REUTERS informed that Halyk Saving Bank of Kazakhstan started today servicing of Kazagroprombank depositors as official agent for individuals. Total liabilities on deposits of individuals as of Dec 1 amounted KZT659.9 mln ($4.6 mln). The amount includes principal and unpaid interest payments accrued on this day. The total amount of payments was not announced. In contrast to Kazagroprombank, Halyk bank is the member of collective deposit insurance system (the System). This fact is important for depositors in light of recent announcements made by the Head of the National Bank Kazakhstan. Mr. Marchenko reported that licenses of nonmembers banks will be probably recalled. The representatives of the Kazagroprombank informed that the bank shifts its activity to other banking segments. It was said that the depositors are free in their decisions and could either keep money on the Halyk bank account or receive money. Assets of Halyk bank increased in Jan-Sep 2000 by 33.5% up to KZT76.3 bln. The bank (50% and one share of government holding) is one of the first three biggest banks. The shareholders intend to raise authorized capital up to KZT5.4 bln from KZT3.6 bln in 2001. The Halyk bank maintains its biggest share of deposits - 40% in total amount of deposits of individuals. As of Oct 1, deposits amounted KZT31.5 bln. Kazagroprombank has the second biggest branch network. Announced authorized capital amounts KZT1.467 bln, of which paid-up is KZT846.7 mln. Bank has 10,000 shareholders half of which are legal entities. ($1=KZT144.10)