Kazakh Central Bank Expect Merger Of Banks To Go On

Kazakh Central Bank Expect Merger Of Banks To Go On

Deputy Chairman of the National Bank of Kazakhstan Oleg Smolyakov has commented on the purchase of Kazkom by Halyk Savings Bank, Kazinform correspondent reports.

“On July 5, 2017, the transaction for the acquisition of the controlling interest in Kazkommertsbank JSC by Halyk Savings Bank of Kazakhstan was completed. All rights and legitimate interests of the depositors, creditors, investors are observed. We also expect the banking sector consolidation to continue, and this, in our opinion, will ensure greater stability,” he said speaking at a Government session.

Earlier, Halyk Bank announced the acquisition of 96.81 percent of Kazkom’s common stock.

This has already been the second large deal in the banking sector of Kazakhstan this year. In April, the list of Bank CenterCredit JSC’s shareholders changed. The issue on the potential merger of the Bank CenterCredit with Tsesnabank JSC is under discussion now.