Jsc Halyk Reg S Regulatory News (HSBK)

5 Feb 2008 11:51

JSC Halyk Savings Bank Kazakhstan05 February 2008 5 February 2008 Joint Stock Company 'Halyk Savings Bank of Kazakhstan' Business Update On the 29 January 2008 Joint Stock Company "Halyk Bank Georgia", subsidiaryorganisation of JSC "Halyk Savings Bank of Kazakhstan" (Halyk Bank) in Georgia,received a licence to carry out banking operations in the territory of Georgia(Licence number 0110246 for the execution of entrepreneurial activities, asforeseen by the Law of Georgia "On activities of commercial banks"). The creation of subsidiary organisation in Georgia is in line with Halyk Bank's2008-2010 strategy and offers Halyk Bank further exposure to an attractivemarket which has benefited from significant economic growth in recent years. According to the World Bank, Georgia is one of the leading countries in the CISfor successfully implementing reforms to assist the conduct of business in thecountry. Increasing foreign direct investments into Georgia are supported byliberal economic reforms, competitive trade regulation, a liberal tax regime,privatization programmes, modernisation of the licensing system, strategicgeo-positioning of the country, and a competitive banking sector. JSC "Halyk Bank Georgia" will offer a full range of high quality bankingproducts and financial services, operating in all market segments, andspecifically targeting corporate and investment banking for large corporatecustomers by offering a competitive service in line with leading local andforeign banks. - ENDS - For further information please contact: Assel Atinova asela@halykbank.kz +7 727 259 04 30 Zhanar Kairbayeva ZhanarKai@halykbank.kz +7 727 244 77 65 Financial Dynamics London: Paul Marriott paul.marriott@fd.com +44 (0)20 7269 7252 David Cranmer david.cranmer@fd.com +44 (0)20 7269 7217 This information is provided by RNS The company news service from the London Stock Exchange