OREANDA-NEWS. Halyk Savings Bank of Kazakhstan JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release:

"...In Kazakhstan a transaction between HSBC Bank plc ("HSBC") and Halyk Savings Bank of Kazakhstan JSC ("Halyk Bank") on purchase of 100% of shares of subsidiary organization of HSBC in Kazakhstan SB "HSBC Bank Kazakhstan" JSC is completed. From beginning of December 2014 a new legal entity –"Altyn Bank" JSC (subsidiary bank of Halyk Bank), operates on Kazakhstan's financial market.

One of important stages of the outgoing year 2014 was the beginning consolidation of the country's banking sector, – says Chairman of Management Board of Halyk Savings Bank of Kazakhstan Umit Shayakhmetova, – At the beginning of the year we concluded an agreement with HSBC on purchase of its Kazakhstan subsidiary. As a result of painstaking enduring work and preparation, after approval by the regulator, the transaction was successfully completed. Today, Halyk Group acquired another valuable asset, featuring business experience of a major global financial conglomerate".