JSC Halyk Bank: Halyk Bank completes sale of 60% of Altyn Bank

Dow Jones received a payment from EQS/DGAP to publish this press release.

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 
 
 
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=4730ea9b4fc003a3688c4d47ac583595&application_id=678255&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

April 24, 2018 07:00 ET (11:00 GMT)