HSBC Bank announced it is selling its wholly owned SB JSC HSBC Bank Kazakhstan to JSC Halyk Bank for $176m in cash, based on a net asset value 160m dollars. The transaction, subject to regulatory approvals and other conditions, is expected to be completed during the fourth quarter of 2014. HSBC said the sale of HSBC Bank Kazakhstan, which has been operating since 1998, represents further progress in the execution of group strategy. Earlier this week HSBC reported full-year results that fell short of analysts' expectations. Pre-tax profits for 2013 grew 9% to $22.6bn versus $24.5bn estimated by analysts.In morning trade, HSBC shares were off 0.5p to 626.5p. KP