Halyk Savings Bank of Kazakhstan announces voluntary liquidation of subsidiary bank in Republic of Tajikistan

04.08.21 17:38
/KASE, August 4, 2021/ – Halyk Savings Bank of Kazakhstan (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the decision made by the bank's Board of Directors on July 30, 2021: quote ... on the voluntary liquidation of a subsidiary bank in the Republic of Tajikistan – Closed Joint-Stock Company "Halyk Bank Tajikistan" (hereinafter – HBT). The decision was made on the basis of a comprehensive analysis of the activities and development prospects of the subsidiary bank. In accordance with the strategic principle of developing the most promising business areas. The Halyk Group decided to withdraw from the project in Tajikistan in order to concentrate resources and focus the Group's efforts on highly efficient and profitable projects with great potential for further growth. HBT became part of the Halyk Group as a result of the acquisition of Kazkommertsbank JSC in 2017. As of March 31, 2021, HBT's share in the assets of the Halyk Group made up 0.03 %. unquote This information is available (in Kazakh and Russian) on – https://kase.kz/files/emitters/HSBK/hsbk_other_accidents_300721_11099.pdf – in Russian, Kazakh and English. [2021-08-04]