19.06.2015, 01:09
Kazkommertsbank announces signing agreement on simultaneous mutual handover of assets and liabilities between Kazkommertsbank and BTA Bank
OREANDA-NEWS. June 19, 2015. Kazkommertsbank JSC (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE
with the following press release of June 15, 2015:
JSC Kazkommertsbank ("KKB" or "the Bank") (LSE: KKB; KASE: KKGB), one of the largest banks in Kazakhstan and Central Asia, and JSC BTA Bank ("BTA") today announce they have signed an Agreement on the simultaneous transfer of assets and liabilities ("the Agreement") between the two banks. Under the Agreement, a part of BTA's assets and liabilities was transferred to KKB, and a portion of KKB's distressed assets was transferred to BTA.
The Agreement was signed in accordance with the resolutions of the joint Extraordinary General Meeting ("EGM"), the legislation on the integration process, as well as the shareholders' resolutions regarding the integration of KKB and BTA.
JSC Kazkommertsbank ("KKB" or "the Bank") (LSE: KKB; KASE: KKGB), one of the largest banks in Kazakhstan and Central Asia, and JSC BTA Bank ("BTA") today announce they have signed an Agreement on the simultaneous transfer of assets and liabilities ("the Agreement") between the two banks. Under the Agreement, a part of BTA's assets and liabilities was transferred to KKB, and a portion of KKB's distressed assets was transferred to BTA.
The Agreement was signed in accordance with the resolutions of the joint Extraordinary General Meeting ("EGM"), the legislation on the integration process, as well as the shareholders' resolutions regarding the integration of KKB and BTA.
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