/KASE, July 30, 2018/– Halyk Savings Bank of Kazakhstan (Аlmaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the press release dated July 30, 2018, which states as follows:

quote

JSC Halyk Bank (“Halyk Bank”) and JSC Kazkommertsbank (“Kazkommertsbank”) inform that the Transfer Act was signed on 28 July 2018 as of 27 July 2018 (inclusive).

The execution of the Transfer Act completes the assumption by Halyk Bank of all property, rights and obligations of Kazkommertsbank as a result of voluntary reorganization of Halyk Bank and Kazkommertsbank in the form of Kazkommertsbank's merger into Halyk Bank.

Umut Shayakhmetova, Halyk Bank’s CEO, commented on the results of integration: “We have completed a large process that lasted for more than a year and a half, starting with the entering into discussions, due diligence procedures prior to the acquisition of shares of Kazkommertsbank, completion of the transaction itself, and finally, the subsequent integration and merger of two banks. All the transition procedures of Halyk Bank and Kazkommertsbank to a single technological platform were completed in accordance with the schedule. There comes a new stage in the history of Halyk Bank and the entire financial sector of Kazakhstan. Millions of customers trust Halyk Bank and we will do our best to meet their expectations”.

unquote

Full version of the press release is posted on the KASE website – see more

[2018-07-30]