Halyk Bank of Kazakhstan announces full early repayment of 250 bn tenge of historical government assistance received by Kazkommertsbank in 2015

08.04.24 17:55
/KASE, April 8, 2024/ – Halyk Bank of Kazakhstan JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote Halyk announces KZT 250 billion full prepayment of state support funds received by KKB in the form of a deposit from Kazakhstan Sustainability Fund JSC (KSF). Earlier, in June and December 2023, Halyk prepaid a part of the KSF deposit of KZT 68.4 billion, and on 8 April 2024, Halyk prepaid the outstanding KSF deposit of KZT 181.6 billion. Thus, the total amount of funds returned to the state ahead of the schedule in 2023 and 2024 amounted to KZT 250 billion. As a reminder, state support funds in the form of a deposit of KZT 250 billion was received by KKB back in 2015. After the merger of KKB with Halyk in 2018, Halyk became the legal successor of the deposit, and the amount of state support funds was transferred to the balance sheet of the the merged bank. The KSF deposit funds of KZT 250 billion were repaid ahead of the maturity, which is 2037, as set forth by the agreement between KKB and Problem Loan Fund JSC. unquote The complete press release is available on: - https://kase.kz/files/emitters/HSBK/hsbk_relizs_080424_1.pdf – in Russian; - https://kase.kz/files/emitters/HSBK/hsbk_relizs_080424_en.pdf – in English. [2024-04-08]