JSC Halyk Bank: Announcement on obtaining permissions for the voluntary reorganization

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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    [phone] 
 
Yelena Perekhoda [phone] 
 
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)