Qazkom, Khalyk Bank merger to close by yearend - Daniyar Akishev

ALMATY. KAZINFORM - Daniyar Akishev, Chairman of the National Bank of the Republic of Kazakhstan, mentioned the much talked about merger of Qazkom and Khalyk Bank on Thursday, Kazinform reports. 

The question about the consolidation of the two Kazakhstani banks popped up at the online conference Akishev held in Almaty city.

"The process of the merger is underway. We were told by the management, they aim to complete it by the end of 2018. We hope everything will go according to the schedule," the Chairman of the National Bank said.

The process of creating the country's largest lender is a complex one and might take longer than expected, he stressed.

"We wish the banks success in their attempt to create a more stable bank," Akishev said.

It is to be recalled that the Board of the National Bank gave the thumbs up to the merger of the two banks in December 2017. Five months later Chairman of Khalyk Bank Ms Umut Shayakhmetova commended the potential of the consolidation deal and said it would positively affect Kazakhstan's economy and a number of its neighbors.

During the online conference on Thursday the Chairman of the National Bank also emphasized that any bank is an enterprise and its success mainly depends on the trust of its clients.

Daniyar Akishev's online conference was organized by "Kazinform" International News Agency.