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JSC Halyk Bank (HSBK)
JSC Halyk Bank: Announcement on obtaining permissions for the voluntary
reorganization
14-Jun-2018 / 14:08 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Announcement
Joint Stock Company Halyk Savings Bank of Kazakhstan ("Halyk Bank") and
Joint Stock Company Kazkommertsbank ("Kazkommertsbank") inform inter alia
all its depositors, customers, correspondents, borrowers and creditors* on
obtaining from the National Bank of Kazakhstan the permissions for the
voluntary reorganization of Halyk Bank and Kazkommertsbank through
Kazkommertsbank's merger into Halyk Bank.
Mrs. Umut Shayakhmetova, CEO of Halyk Bank, commented this event: "We have
approached the key stage of integration between Kazkommertsbank and Halyk
Bank. In our view the work that we have done during all these months is
unprecedented both in scale and level of complexity, and in the speed with
which we moved. After capitalization of Kazkommertsbank, we managed not only
to improve the financial performance of two banks, but also start
integration by combining their IT systems, branch networks, infrastructures,
technologies, best product solutions and internal processes. Now, we are
going to complete all the procedures necessary for legal integration and
technical migration of customer accounts."
In accordance with the legislation of the Republic of Kazakhstan, upon
signing of Transfer Certificate between the banks Halyk Bank will fully meet
all the obligations to creditors and depositors that have been transferred
to it from Kazkommertsbank, including maintenance in full of the transferred
bank accounts of depositors and with the preservation of all the conditions
specified in Kazkommertsbank's agreements.
On 26 July 2018, the Extraordinary and Joint General Shareholders' Meetings
of Halyk Bank and Kazkommertsbank are convened to pass resolutions on the
approval of the Transfer Certificate.
Information on the actual date of signing of the Transfer Certificate will
be published on corporate websites of Halyk Bank and Kazkommertsbank.
*in accordance with Clause 5 of Article 60 of the Law of the Republic of
Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan" and
Clause 5 of Article 83 of the Law of the Republic of Kazakhstan «On Joint
Stock Companies."
For further information, please contact:
Halyk Bank
Mira Kasenova +7 727 259 04 30
Yelena Perekhoda +7 727 330 17 19
ISIN: US46627J3023
Category Code: MSCM
TIDM: HSBK
Sequence No.: 5650
EQS News ID: 695501
End of Announcement EQS News Service
(END) Dow Jones Newswires
June 14, 2018 08:08 ET (12:08 GMT)
