Kazkommertsbank To Become An Affiliated Bank Of Halyk Bank Of Kazakhstan
Accession of Halyk Bank of Kazakhstan in the capital of Kazkommertsbank (KKB) in case of conclusion of earlier announced bargain is planned through acquisition of a big part of shares of emission announced by KKB, said Umut Shayakhmetova, chairfigure of Halyk Bank.
“In case we reach the agreement, if all the documents are signed, yes, probably Halyk Bank will take part in acquisition of shares (issued within the frameworks of emission announced by KKB-KazTAG),” said U. Shayakhmetova.
She said in case the deal is concluded there is no plan to unify two banks at the initial stage.
“The bargain does not mean merger. In case the agreement is concluded, Kazkom will be an affiliated bank of Halyk Bank of Kazakhstan. It is the first stage, if it is completed. Then we will look further,” said U. Shayakhmetova.
Commenting on the question about the bargain, she said at the end of May the parties expect to reach “clear understanding”, but due to complication of the bargain the terms of its completion are still unknown.
About Halyk Bank
Halyk Bank is Kazakhstan’s leading financial services group, operating across a variety of segments, including retail, SME & corporate banking, insurance, leasing, brokerage and asset management. Halyk Bank has been listed on the Kazakhstan Stock Exchange since 1998 and on the London Stock Exchange since 2006.
With total assets of KZT 5,201.1 billion, Halyk Bank is Kazakhstan’s leading lender. The Bank has the largest customer base and broadest branch network in Kazakhstan, with 506 branches and outlets across the country. The Bank also operates in Georgia, Kyrgyzstan and Russia.