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    Kazakhstan

    Halyk Bank Kazakhstan to divest Kyrgyz subsidiary, prioritizes Uzbekistan expansion and SME digitalization in 2023

    Halyk Bank Kazakhstan to divest Kyrgyz subsidiary, prioritizes Uzbekistan expansion and SME digitalization in 2023

    Halyk Bank of Kazakhstan is set to divest its subsidiary Halyk Bank Kyrgyzstan (formerly Kairat Bank) by selling 100% of its equity to the investment group Visor International DMCC. This strategic move aligns with HalykBank's focus on expanding its business in Uzbekistan and enhancing digitalization for SME products in 2023.

    The bank's commitment to Uzbekistan involves the digitalization of SME products, with the establishment of subsidiaries by Kazteleport and Halyk Finservice in the country. Additionally, the launch of the Tenge Market marketplace contributes to the bank's strategic goals.

    Source: Kursiv.kz

    In October 2023, HalykBank successfully concluded the acquisition of a 50% stake in Open Networks, a private company. This move aims to bolster the bank's digital infrastructure development and strengthen its presence in the online ticket sales market.

    As of July 1, 2023, ALMEX Holding Group JSC holds a majority share of 69.6% in HalykBank, reflecting the ongoing corporate landscape and ownership structure.

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    14.11.2023, 13:10   Comments (0)   1339
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