Jsc Halyk Reg S Regulatory News (HSBK)

25 Jan 2008 07:10

JSC Halyk Savings Bank Kazakhstan25 January 2008 25 January 2008 Joint Stock Company 'Halyk Savings Bank of Kazakhstan' Business Update Joint Stock Company 'Halyk Savings Bank of Kazakhstan' (Halyk Bank) (LSE: HSBK)provides an update on its business activities. 1. Strategy The Board of Directors of Halyk Bank in November 2007 approved an update andcontinuation of its Group Strategy until 2010. Halyk Bank will continue to grow as a Regional Financial Services Group focusingon corporate, SME and retail banking. The Group Strategy will also continue tobe aligned with the Group Values of customer orientation, reliability,leadership, social responsibility, fairness, and professionalism. Furthermore, Halyk Bank will continue to increase shareholder value through longterm sustainable growth, driven by controlled expansion across the full range offinancial services. The full outline of the Halyk Group Strategy for 2008-2010 is available on HalykBank's web-site at: http://eng.halykbank.kz/bank/halyk_group_strategy_for_2008_2010 2. Registration of new foreign subsidiaries of Halyk Bank On 7 December 2007 Halyk Bank received authorisation from the Agency ofKazakhstan on Regulation and Supervision of Financial Markets and FinancialOrganisations (the 'FMSA') to establish subsidiary banks in Georgia and Mongoliaas well as a subsidiary non-banking financial organisation in Mongolia. In view of this, in January 2008 Halyk Bank registered a new legal entity inGeorgia entitled 'JSC Halyk Bank Georgia' and submitted an application for abanking licence to the National Bank of Georgia. In December 2007 Halyk Bank registered two legal entities in Mongolia: 'HalykAstana Dornod LLC' and 'Halyk Dornod LLC'. 'Halyk Astana Dornod LLC' will applyto the Financial Regulatory Commission of Mongolia with the purpose of obtaininga non-banking financial organisation licence in February 2008. 'Halyk DornodLLC' is expected to apply to the Bank of Mongolia for a banking licence inFebruary 2008. 3. Change of name of Russian subsidiary Halyk Bank announces the change in name of its banking subsidiary in Russia 'JSCBank Khlebny' to the 'Open Joint Stock Company NBK-Bank' (NBK-Bank). TheRegional Division of the Central Bank of Russian Federation in Chelyabinskconfirmed the name change for JSC Bank Khlebny in the state register of legalentities on the 20th December 2007. Furthermore, Halyk Bank and NBK-Bank confirm the validity of all contractsconcluded by JSC Bank Khlebny. The change in name of the bank does not entailany changes in either the legal form or the bank details of NBK-Bank. - ENDS - For further information please contact: Dauren Karabayev daurenk@halykbank.kz +7 727 259 88 66 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 Moscow: Leonid Solovyev leonid.solovyev@fd.com +7 495 795 06 23 This information is provided by RNS The company news service from the London Stock Exchange