Halyk Bank sold its Russian subsidiary Moskommertsbank for 1.1 billion rubles.
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The amount of the transaction for the sale of the Russian subsidiary of Halyk Bank of Kazakhstan (Halyk Bank) – Moskommertsbank – amounted to 7.3 billion tenge (1.1 billion rubles). This follows from reporting halyk bank. The closing of the transaction was reported in December 2022, the buyer of Moskommertsbank is not named.
It also follows from the reporting that the loss from the transaction for the bank is estimated at 18.8 billion tenge. Halyk Bank, announcing the completion of the transaction, refused to name the buyer because of his respective request. The credit institution explained the need to sell its daughter by the desire to “develop the most promising business areas.”
In December 2022, Halyk Bank also closed the sale of its subsidiary in Tajikistan, Halyk Bank Tajikistan. The International Bank of Tajikistan purchased it for 2.6 billion tenge.
Moskommertsbank provides lending services to small and medium-sized businesses and the corporate sector. Halyk Bank was its sole shareholder. Moskommertsbank has branches in several Russian cities, including Moscow.
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