OREANDA-NEWS. March 14, 2008. ‘Halyk Astana Dornod LLC’, a subsidiary organisation of JSC “Halyk Savings Bank of Kazakhstan” in Mongolia, received a certificate from the Financial Regulatory Commission of Mongolia authorising ‘Halyk Astana Dornod LLC’ to carry out non-banking financial operations in the territory of Mongolia for three years.

The creation of subsidiary organisation in Mongolia is in line with Halyk Bank’s 2008-2010 strategy and offers Halyk Bank further exposure to an attractive market which has benefited from significant economic growth in recent years.

‘Halyk Astana Dornod LLC’ will focus mainly on financial leasing of fixed assets to small and medium enterprises (SME) and large corporate clients. ‘Halyk Astana Dornod LLC’ is targeting a 4% market share in all key segments and 4% market share in total assets of Mongolian commercial banks by the end of 2012.