JSC Halyk Bank: On the acquisition and rebranding of subsidiary bank JSC Halyk Bank / Miscellaneous 02.12.2014 07:42 Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. 02 December 2014 On the acquisition and rebranding of subsidiary bank On 28 November 2014, JSC 'Halyk Bank' (the Bank) completed the purchase of HSBC Bank Kazakhstan, the subsidiary of HSBC Bank plc. The Bank became sole shareholder and obtained full control over the purchased bank. This is a landmark transaction for Kazakhstan banking history. The purchased bank has been renamed into JSC 'Altyn Bank' (SB of JSC 'Halyk Bank') ('Altyn Bank'). Altyn Bank is now a subsidiary of JSC 'Halyk Bank' and will operate as a separate legal entity. The Bank's Management believes that Altyn Bank shall allow Halyk Group increasing its business with foreign companies represented in Kazakhstan, including salary projects and payroll lending, as well as developing mortgage lending to high quality customers. With its existing client base Altyn Bank provides a perfect opportunity for promoting private banking and internet-banking business. Altyn Bank is 18th on the market in terms of total assets. Its share in total assets of Halyk Bank is around 8%. - ENDS - For further information please contact: JSC 'Halyk Bank' Viktor Skryl, Director, International Department +7 727 259 04 27 02.12.2014 The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de Language: English Company: JSC Halyk Bank 109V, Abay ave 050008 Almaty Kazakhstan Phone: +7 727 259 04 27 Fax: +7 727 259 04 64 E-mail: halykteam@halykbank.kz Internet: http://halykbank.kz ISIN: US46627J3023 Category Code: MSC TIDM: Sequence Number: 2427 Time of Receipt: Dec 02, 2014 07:42:19 End of Announcement EquityStory.RS, LLC News-Service |