Business Update

11 Dec 2008 12:39



11 December 2008

Joint Stock Company 'Halyk Savings Bank of Kazakhstan'

Business Update 

Further to the news published with reference to the Government of the Republic of Kazakhstan, the National Wealth Fund SamrukKazyna (SamrukKazyna) and the National Bank of the Republic of Kazakhstan on the possible restructuring of the Kazakhstan banks' external debt, Joint Stock Company 'Halyk Savings Bank of Kazakhstan' (Halyk Bank) (LSE: HSBK) hereby informs the investor community that it has sufficient funds to repay its international obligations in accordance with the existing repayment schedules and does not expect or plan any debt restructuring. 

Halyk Bank is planning to approach the respective Government and regulatory bodies to clarify their intentions with regards to Halyk Bank's international obligations. However, please note that Halyk Bank has not authorised, and does not plan to authorise, any third party to hold negotiations on the restructuring of Halyk Bank's international obligations.

Halyk Bank will update the investor community as soon as it becomes aware of any clear intentions of the Government authorities with regards to negotiations on international debt restructuring. 

About Halyk Bank

Halyk Bank is one of Kazakhstan's leading financial services groups and a leading retail bank with the largest customer base and distribution network among Kazakhstan banks. The Bank is developing as a universal financial group offering a broad range of services (banking, pensions, insurance, leasing, brokerage and asset management) to its retail, small and medium enterprise and corporate customers, seeking further expansion of its international operations in Russia, Georgia, Mongolia and Kyrgyzstan. The Bank is rated by the three main rating agencies: Moody's Investor Service (Ba1), Fitch Ratings (BB) and Standard&Poor's (BB+).

As at 30 September 2008, the total number of the Bank's outlets was 706, with 1,665 ATMs and 4,114 POS terminals (incl. information and transaction terminals).

- ENDS -

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