JSC Halyk Bank / Miscellaneous - Medium Priority JSC Halyk Bank: JSC Halyk Bank signed memorandum of understanding with China CITIC Bank Corporation Limited 04-Nov-2016 / 05:13 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Press Release, 4 November 2016, Almaty JSC HALYK BANK SIGNED MEMORANDUM OF UNDERSTANDING WITH CHINA CITIC BANK CORPORATION LIMITED JSC 'Halyk Bank' ('Halyk Bank') announces that it has reached in-principle agreement on attracting a strategic investor - one of the largest financial institutions of the People's Republic of China, China CITIC Bank Corporation Limited ('CITIC Bank') to sell 60% of Halyk Bank's shares in JSC 'Altyn Bank' (SB of JSC 'Halyk Bank') ('Altyn Bank'). To formalise this agreement Halyk Bank and CITIC Bank have signed a Memorandum of understanding (the 'Memorandum'). The implementation of the terms and conditions of the Memorandum is expected during first half of 2017. In order to implement the agreement, the parties to the Memorandum will need, among other things, to obtain necessary approvals of the competent authorities of the People's Republic of China and the Republic of Kazakhstan and fulfil other conditions customary for such type of transaction. The Chairperson of the Management Board of Halyk Bank Mrs. Umut Shayakhmetova commented: 'Having a strategic partner would expand opportunities of Altyn Bank in investment banking, trade finance and treasury, payments in RMB, private and retail banking products, banking technologies. Altyn Bank remains universal bank and will continue implementation of its strategy on servicing corporate and retail clients. We also expect that this transaction would allow Halyk Group to play a key role in implementing projects within Kazakhstan's 'Nurly Zhol' development program and Chinese initiatives on creation of the Silk Road Economic Belt 'One Belt. One Road'. PR-Service of JSC Halyk Bank tel. +7 727 2 590 816, pr@halykbank.kz, www.halykbank.kz
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The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg
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Language: English Company: JSC Halyk Bank 109V, Abay ave 050008 Almaty Kazakhstan Phone: +7 727 259 04 27 Fax: +7 727 259 04 64 E-mail: halykteam@halykbank.kz Internet: http://halykbank.kz ISIN: US46627J3023 WKN: A0LF36 Category Code: MSCM TIDM: HSBK Sequence Number: 3564 Time of Receipt: 04-Nov-2016 / 05:13 CET/CEST End of Announcement EquityStory.RS, LLC News Service
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517429 04-Nov-2016
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Press Release, 4 November 2016, Almaty JSC HALYK BANK SIGNED MEMORANDUM OF UNDERSTANDING WITH CHINA CITIC BANK CORPORATION LIMITED JSC 'Halyk Bank' ('Halyk Bank') announces that it has reached in-principle agreement on attracting a strategic investor - one of the largest financial institutions of the People's Republic of China, China CITIC Bank Corporation Limited ('CITIC Bank') to sell 60% of Halyk Bank's shares in JSC 'Altyn Bank' (SB of JSC 'Halyk Bank') ('Altyn Bank'). To formalise this agreement Halyk Bank and CITIC Bank have signed a Memorandum of understanding (the 'Memorandum'). The implementation of the terms and conditions of the Memorandum is expected during first half of 2017. In order to implement the agreement, the parties to the Memorandum will need, among other things, to obtain necessary approvals of the competent authorities of the People's Republic of China and the Republic of Kazakhstan and fulfil other conditions customary for such type of transaction. The Chairperson of the Management Board of Halyk Bank Mrs. Umut Shayakhmetova commented: 'Having a strategic partner would expand opportunities of Altyn Bank in investment banking, trade finance and treasury, payments in RMB, private and retail banking products, banking technologies. Altyn Bank remains universal bank and will continue implementation of its strategy on servicing corporate and retail clients. We also expect that this transaction would allow Halyk Group to play a key role in implementing projects within Kazakhstan's 'Nurly Zhol' development program and Chinese initiatives on creation of the Silk Road Economic Belt 'One Belt. One Road'. PR-Service of JSC Halyk Bank tel. +7 727 2 590 816, pr@halykbank.kz, www.halykbank.kz
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The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg
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Language: English Company: JSC Halyk Bank 109V, Abay ave 050008 Almaty Kazakhstan Phone: +7 727 259 04 27 Fax: +7 727 259 04 64 E-mail: halykteam@halykbank.kz Internet: http://halykbank.kz ISIN: US46627J3023 WKN: A0LF36 Category Code: MSCM TIDM: HSBK Sequence Number: 3564 Time of Receipt: 04-Nov-2016 / 05:13 CET/CEST End of Announcement EquityStory.RS, LLC News Service
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517429 04-Nov-2016
