Kazkommertsbank recapitalized for KZT 185 billion
On 12 July 2017 Halyk Bank has executed its pre-emptive rights and acquired 1,296,698,676 ordinary shares of Kazkommertsbank pro-rata to current ownership share of Halyk Bank of 96.81% in Kazkommertsbank. Halyk Bank has paid KZT 185 billion for the shares acquired, and recapitalized Kazkommertsbank for KZT 185 billion. Kazkommertsbank is in compliance with the capital adequacy requirements of the National Bank of Kazakhstan. Kazkommertsbank is the 2nd largest bank in Kazakhstan in terms of assets and capital. Halyk Group, which includes Halyk Bank and Qazkom, is the 3rd largest financial group in CIS in terms of assets.