Closed Joint-Stock Company (CJSC) Halyk Bank Tajikistan, which is subsidiary of Halyk Bank in Tajikistan, has voluntarily been liquidated.

Halyk Bank yesterday announced the resolution on voluntary liquidation of CJSC Halyk Bank Tajikistan adopted by Bank’s Board of Directors on July 30, 2021.   

The resolution was reportedly adopted based on the comprehensive analysis of the activities and development prospects of the subsidiary bank.

Consistent with the strategic principle of developing the most prospective areas of business, Halyk Group chose to exit the Tajikistan project so as to focus its resources and efforts on highly efficient and profitable projects with big potential for further growth.

Halyk Bank Tajikistan joined Halyk Group as a result of the acquisition of JSC Kazkommertsbank in 2017.  As of March 31, 2021, its share of Halyk Group's assets was 0.03%.

Recall, CJSC Kazkommertsbank Tajikistan was renamed CJSC Halyk Bank Tajikistan.  It was renamed CJSC Halyk Bank Tajikistan after JSC Halyk Bank, a commercial savings bank in Kazakhstan, merged with JSC Kazkommertsbank

As of July 3, 2019, an authorized capital of CJSC Halyk Bank Tajikistan reportedly amounted to 35 million somonis.  

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 – 640 branches and offices across Kazakhstan.