Halyk Savings Bank of Kazakhstan comments on media speculations over possible merger with Qazkom

/KASE, November 18, 2016/ – Halyk Savings Bank of Kazakhstan (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote JSC Halyk Bank (hereinafter – the "Bank") notes recent press speculation about a potential merger with JSC Kazkommertsbank (hereinafter – the "KKB"). In response to questions from the analysts we have already responded that Halyk Savings Bank of Kazakhstan Bank has neither made nor received an offer to merge or otherwise combine with KKB. Due to continuing speculation we would like to clarify further. Indeed, during 2016 within the framework of general discussions a number of scenarios of banking sector developments were considered, which in our view cannot be treated as conducting negotiations. There can be no certainty that this will lead to commencement of negotiations between the parties. Halyk Bank would only contemplate undertaking such transactions if they were to be entered into on a commercial basis on arm’s length terms in accordance with international standards and if transactions would take into account interests of shareholders and other stakeholders of Halyk Bank. Halyk Bank is the most profitable and stable bank in Kazakhstan with fast growing assets, stable and improving loan portfolio quality, high return on equity*. * according to regulatory data unquote [2016-11-18]