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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)