BAKU, Azerbaijan, December 23. Kazakhstan’s Halyk Bank sold 100 percent shares of its Russian CB Moskommertsbank, the source at the Kazakhstan Stock Exchange told Trend.
According to the provided information, the sale of Moskommertsbank is not correlated to geopolitical risks, and the possible sale was analyzed for the past few years.
The sale of the Russian subsidiary is not expected to impact Halyk Bank, as the share of Moskommertsbank equaled 2 percent in the total business operations of the Kazakh banking giant.
Information on the buyer and the financial side of the agreement remains undisclosed for the time being. After the finalization of the deal, Moskommertsbank will resume its operations in the Russian market.
