Last checked at 19 Feb 2013 08:51
OFFICIAL STATEMENT
Concerning the shares in JSC APF of Halyk Bank, the subsidiary of JSC "Halyk Bank"
19 February 2013
Yesterday, IA "Interfax-Kazakhstan" distributed information that the government might acquire from JSC "Halyk Bank" (hereinafter - the Bank) the Bank's share in JSC APF of Halyk Bank, the subsidiary of JSC "Halyk Bank" (hereinafter - Pension Fund) in exchange for shares of JSC "BTA Bank" (hereinafter - BTA Bank).
In connection with multiple inquiries and in order to avoid dissemination of an inadequate information the Bank would like to make the following statement:
The Bank has always viewed the Pension Fund as a strategic asset of the Halyk Group. Currently the Pension Fund is the leader of the pension system of Kazakhstan. During almost 15 years in business the Pension Fund has been ensuring effective and professional management of pension assets, financial strength and transparency, having gained trust of millions of clients.
As at 19 February 2013 the Bank has not received any official offer, including state authorities, with respect to the shares in the Pension Fund. Consequently, methods of payment for the Bank's stake in the Pension Fund, including that with the shares of BTA Bank, have not been considered either.
The Bank is of an opinion that such corporate actions require thorough examination, taking into account (1) their fit with the strategy of Halyk Group, (2) economic rationale (3) interests of contributors, clients, lenders, shareholders and employees, (4) compliance with legislation and banking regulation, (5) listing requirements of stock exchanges, (6) terms and conditions of existing agreements, (7) fair value of assets and transactions made.
The Bank is planning to hold preliminary consultations with the representatives of the Government of the Republic of Kazakhstan and JSC Samruk-Kazyna in order to clarify the current situation.
The Bank will be considering the sale or exchange of its share in the Pension Fund only in case of official offers made to the Bank.
For further information please contact:
Halyk Bank
Dauren Karabayev Viktor Skryl |
+7 727 259 68 10 +7 727 259 04 27 |