/KASE, February 21, 2020/ – Tengri Bank (Almaty), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has informed KASE as follows:
quote
Chairman of Management Board of Tengri Bank Pawan Singh informed that Punjab
National Bank had informed Tengri Bank of the decision made to withdraw consent
for the merger of Tengri Bank with Capital Bank Kazakhstan and AsiaCredit Bank
given in May 2019.
Let us remind that Punjab National Bank is the largest shareholder of Tengri
Bank that owns 41.64% shares of the bank.
It is important to note that it would be impossible to complete the merger process
without consent of the largest shareholder of Tengri Bank represented by Punjab
National Bank.
unquote
This information is available (in Kazakh and Russian) at –
https://kase.kz/files/emitters/DNBN/dnbn_reliz_210220_1.docx
[2020-02-21]