Joint-Stock Company (JSC) Halyk Bank on November 18 announced the conclusion of an agreement with Closed Joint-Stock Company (CJSC) the International Bank of Tajikistan (IBT) on selling 100 percent of stock of its subsidiary in Tajikistan, CJSC Halyk Bank Tajikistan.
According to information posted on the Halyk Bank’s official website, CJSC IBT has received all necessary regulatory approvals and the transaction is expected to close in December 2022.
During the transaction and after the completion of all necessary procedures, the Bank will continue working and serving customers as usual, offering all banking services in accordance with the terms of previously concluded agreements.
Recall, CJSC Kazkommertsbank Tajikistan was renamed CJSC Halyk Bank Tajikistan after JSC Halyk Bank, a commercial savings bank in Kazakhstan, merged with JSC Kazkommertsbank.
CJSC Halyk Bank Tajikistan was granted a license to carry out transactions in national and foreign currencies on July 1, 2019.
JSC Halyk Bank and JSC Kazkommertsbank signed the Transfer Act on July 28, 2018. The execution of the Transfer Act completes the assumption by Halyk Bank of all property, rights and obligations of Kazkommertsbank as a result of voluntary reorganization of Halyk Bank and Kazkommertsbank in the form of Kazkommertsbank's merger into Halyk Bank.
Halyk Bank is the legal successor of the Soviet-era Sberbank (savings bank) in Kazakhstan, analogous to Sberbank in Russia. Its full Kazakh name translates into English as “National Savings Bank of Kazakhstan.” A member of the Halyk Group, it is headquartered in the city of Almaty.
Halyk Bank is the leading credit institution in Kazakhstan, which also operates in CIS countries – Georgia, Kyrgyzstan, Russia and Uzbekistan. The Bank has the largest customer base and branch network in Kazakhstan.
The Closed Joint-Stock Company (CJSC) “The International Bank of Tajikistan” that was established in April 2014 as the microfinance organization “Standart Moliya” (Standard Finance) was upgraded into a commercial bank on February 29, 2016.
The bank’s stakeholders reportedly include a private company and a group of nationals of Tajikistan.
The IBT, with headquarters in Dushanbe, currently has ten branches and twelve banking service centers in several districts and cities across the country.
As of September 1, 2022, IBT’s assets have amounted to 1.209.2 billion somonis.
