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JSC Halyk Bank (HSBK)
JSC Halyk Bank: Halyk Bank completes sale of 60% of Altyn Bank
24-Apr-2018 / 13:00 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Halyk Bank completes sale of 60% of Altyn Bank
On 24 April 2018 JSC Halyk Bank ("Halyk Bank") completed transaction on sale
of 60% of the share capital in JSC Altyn Bank ("Altyn Bank"): 50.1% to China
CITIC Bank Corporation Limited ("CITIC Bank") and 9.9% to China Shuangwei
Investment Co., Ltd. ("Shuangwei"). Transaction was completed following
satisfaction by the parties of certain conditions precedent, including
obtaining necessary approvals from Chinese and Kazakh regulatory
authorities. Halyk Bank considers this transaction as value accretive. Halyk
Bank remains a 40% shareholder of Altyn Bank and has certain rights under a
shareholders' agreement signed between the parties.
Umut Shayakhmetova, Halyk Bank's CEO, commented: "We are pleased to announce
the completion of the landmark deal for Kazakhstan banking sector, which
became possible thanks to the concerted effort of Halyk Bank, CITIC Bank and
Altyn Bank teams over the last two years. This transaction is not only
strategically important for Halyk Group, but it is undoubtedly a milestone
for the entire banking sector of Kazakhstan, as it shows continuing interest
to it from large institutional investors. We believe that both banking
sector and Kazakhstan consumers of financial services should benefit from
this partnership. The strategic alliance between the largest banks of
Kazakhstan and China will expand opportunities of Altyn Bank in banking
technologies, cross-selling, trade finance, treasury operations, payments in
RMB, and will also allow attracting key Chinese clients working in
Kazakhstan. Altyn Bank remains universal bank and will continue
implementation of its strategy on servicing corporate and retail clients. We
expect that due to access to innovative digital technologies of CITIC Bank
Altyn Bank will be able to strengthen its market position. This transaction
also allows Halyk Bank to play a key role in implementing initiatives on
creation of the Silk Road Economic Belt "One Belt. One Road".
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.
In July 2017, the Bank purchased majority stake in Kazkommertsbank JSC - the
second largest Bank in Kazakhstan by total assets.
With total assets of KZT 8,857.8 billion as at 31 December 2017, Halyk Bank
is Kazakhstan's leading lender. The Bank has the largest customer base and
broadest branch network in Kazakhstan, with 699 branches and outlets
(including 210 branches and outlets of Kazkommertsbank) across the country.
The Bank also operates in Georgia, Kyrgyzstan, Russia and Tajikistan.
For more information on Halyk Bank, please visit https://www.halykbank.kz
[1]
About Altyn Bank
Altyn Bank JSC (Subsidiary of Halyk Bank JSC), previously known as HSBC Bank
Kazakhstan, established in Kazakhstan since 1998, has been acquired by and
became a wholly owned subsidiary of Halyk Bank JSC in November 2014. With
offices in four major cities in Kazakhstan and being a universal bank, Altyn
Bank provides full range of products and services to corporate and retail
clients across the country.
About China CITIC Bank
China CITIC Bank Corporation Ltd., founded in 1987, ranks seventh in terms
of assets in China and is represented in 130 countries. It offers various
banking products and services to large corporate clients and individuals,
both in China and abroad. The Bank's total assets have reached US$900
billion. The Bank ranks 25th in the list of "1000 largest banks of the
world" in terms of the size of Tier 1 capital. The ratings of the bank: BBB
from Fitch and Baa2 from Moody's.
About China Shuangwei Investment Co.
China Shuangwei Investment Co., Ltd. is a wholly-owned limited liability
company of China Tobacco Corporation. The company is responsible for the
investments and management in a wide range of major strategic projects,
including energy, real estate, agriculture, education, medical service,
logistics, infrastructure, cultural industries, network information,
financial products, energy conservation, tobacco accessories and tobacco
supporting projects, as well as business-related advisory services.
ISIN: US46627J3023
Category Code: MSCM
TIDM: HSBK
Sequence No.: 5445
End of Announcement EQS News Service
678255 24-Apr-2018
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(END) Dow Jones Newswires
April 24, 2018 07:00 ET (11:00 GMT)
