JSC “Halyk Bank” (“Halyk Bank”) has entered into an agreement with HSBC Bank plc (“HSBC”) to acquire 100% of the share capital in SB HSBC Bank Kazakhstan JSC (“Company”), a wholly owned subsidiary of HSBC Bank plc (“the Transaction”).
The Transaction, which is subject to regulatory approvals and other conditions, is expected to complete during 2014.
The CEO of Halyk Bank, Mrs. Umut Shayakhmetova stated:
“We will welcome the Company as a member of the Halyk Bank group. The Transaction represents further progress in the execution of Halyk Bank group’s strategy.
This deal will strengthen the leading position of Halyk Bank in the Kazakhstan banking sector, attracting new customers in the retail segment and among large national companies and large international companies operating in Kazakhstan, and give momentum for further development of private banking and internet banking.
The professionals presently working in the Company are a very important component of the transaction and we plan to share their expertise, knowledge and corporate culture for the future growth of the Halyk Bank group.”
In the near term Halyk Bank contemplates to operate the Company as a separate legal entity / subsidiary organization.
Halyk Bank is the leading financial services group and the leading retail bank in Kazakhstan with the largest customer base and the broadest branch network. Halyk Bank is developing as a universal financial services group rendering a wide range of services (banking, insurance, leasing, brokerage and asset management) to its retail, SME and corporate clients. Halyk Bank also operates in Russia, Georgia and Kyrgyzstan. According to the data of the National Bank of the Republic of Kazakhstan as of January 1, 2014 Halyk Bank ranks second among commercial banks with total assets over KZT 2,441.8 bn. and total equity over KZT 365.5 bn.
The Company is a member of the HSBC Group which has total assets of over US$ 2,671.3 bn, total equity of more than US$ 190.4 bn and has around 6,300 offices in 75 countries and territories around the world. The Company has been operating in Kazakhstan since 1998 and offers a range of retail and wholesale banking services for personal, corporate and institutional customers. According to the data of the National Bank of the Republic of Kazakhstan as of January 1, 2014 the Company ranks seventeenth among commercial banks with total assets over KZT 187 bn. and total equity over KZT 26 bn.
For further information please contact:
Director, International Department
+7 727 259 04 27