Two Kazakh banks plan to merge?
Baku, Azerbaijan, Jan. 21
By Elena Kosolapova - Trend:
Kazakh Halyk Bank and Kazkommerzbank have entered into preliminary discussions regarding a potential deal, the press-services of the both banks reported Jan. 20.
The banks did not disclose the details of the deal.
“Currently it is too early to comment on terms and conditions,” Halyk bank said.
However earlier Reuters reported with a reference to a source that Halyk Bank and Kazkommerzbank planned to merge.
Halyk Bank is one of Kazakhstan's leading financial services groups and a leading retail bank with the largest customer base and distribution network among banks in Kazakhstan. Established in 1923, Halyk Bank has the largest branch network across the country and subsidiary-banks in Russia, Kyrgyzstan and Georgia.
Kazkommertsbank is one of the largest commercial banks in the CIS and is the largest by total assets in Kazakhstan. Incorporated in 1991, Kazkommertsbank is now the leading provider of banking and financial services to both large and medium-sized corporations across every sector of Kazakhstan’s economy.
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