Kazakh National Bank okays Halyk Bank subsidiary in Uzbekistan

Finance Materials 7 November 2018 14:16 (UTC +04:00)

Baku, Azerbaijan, Nov. 7

By Rashid Shirinov – Trend:

The National Bank of Kazakhstan has issued a permit to Halyk Bank for it to create a subsidiary, Tenge Bank, in Uzbekistan, Kapital.kz reported.

"The Board of the National Bank of Kazakhstan adopted a resolution, dated October 29, 2018, on issuing a permit to Halyk Bank for creation of a subsidiary organization, Tenge Bank, in Uzbekistan," the National Bank said in a statement.

Head of Halyk Bank Umut Shayakhmetova has earlier said that Halyk Group has an interest to enter the market of Uzbekistan, as the Group already has a significant market share not only in Kazakhstan, but also in the CIS.

As many as 65.11 percent of the shares of Halyk Bank belong to the Holding Group ALMEX, 13.79 percent - to the Central Securities Depository, and 5.34 percent - to the Unified Accumulative Pension Fund.

Currently, Halyk Group is represented in five countries - Russia, Kyrgyzstan, Georgia, Tajikistan and Kazakhstan.


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