JSC Halyk Bank: Re. Recent Speculation About A Potential Merger With JSC Kazkommertsbank
Press Release, 18 November 2016, Almaty
JSC Halyk Bank (hereinafter – the «Bank») notes recent press speculation
about a potential merger with JSC Kazkommertsbank (hereinafter – the
«KKB»). In response to questions from the analysts we have already
responded that Halyk Bank has neither made nor received an offer to merge
or otherwise combine with KKB.
Due to continuing speculation we would like to clarify further.
Indeed, during 2016 within the framework of general discussions a number of
scenarios of banking sector developments were considered, which in our view
cannot be treated as conducting negotiations.
There can be no certainty that this will lead to commencement of
negotiations between the parties.
Halyk Bank would only contemplate undertaking such transactions if they
were to be entered into on a commercial basis on arm’s length terms in
accordance with international standards and if transactions would take into
account interests of shareholders and other stakeholders of Halyk Bank.
Halyk Bank is the most profitable and stable bank in Kazakhstan with fast
growing assets, stable and improving loan portfolio quality, high return on
* according to regulatory data
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Company: JSC Halyk Bank
109V, Abay ave
Phone: +7 727 259 04 27
Fax: +7 727 259 04 64
Category Code: MSCM
LSE Ticker: HSBK
Sequence Number: 3613
Time of Receipt: 18-Nov-2016 / 06:29 CET/CEST
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