JSC Halyk Bank: JSC Kazkommertsbank Ceases to Exist
Apr 25, 2019
25-Apr-2019 / 16:28 CET/CEST
The issuer is solely responsible for the content of this announcement. Joint Stock Company Halyk Savings Bank of Kazakhstan (JSC Halyk Bank) reports on the completion of the voluntary reorganization through the Joint-Stock Company Kazkommertsbank's merger into JSC Halyk Bank. Joint Stock Company Kazkommertsbank is removed from the National Register of Business Identification Numbers and ceases to exist, according to the Order of the Ministry of Justice of the Republic of Kazakhstan No. 1303-? dated 22 April 2019. JSC Halyk Bank is a successor of all rights and obligations of Joint Stock Company Kazkommertsbank. JSC Halyk Bank is a leading financial group of Kazakhstan operating in various segments, including the provision of banking services to retail, small and medium and corporate clients, insurance, leasing, brokerage and asset management services. Securities of JSC Halyk Bank have been listed on the Kazakhstan Stock Exchange since 1998 and on the London Stock Exchange since 2006. JSC Halyk Bank has the highest ratings awarded by international agencies to Kazakhstan banks: (Moody's - Ba1 / Fitch - BB / S&P - BB). In July 2017, JSC Halyk Bank acquired a controlling stake in Joint Stock Company Kazkommertsbank, the second largest bank in Kazakhstan, and fully consolidated its assets in July 2018. With the assets worth 8.9 trillion tenge, as of 31 December 2018, JSC Halyk Bank is the largest credit institution in Kazakhstan and Central Asia, with the most extensive customer base and branch network - 647 branches and outlets across the country, and it has subsidiary banks in Georgia, Kyrgyzstan, Russia and Tajikistan. This year, JSC Halyk Bank plans to open a subsidiary bank in Uzbekistan. More detailed information about JSC Halyk Bank is available on the corporate website at: https://www.halykbank.kz .