Kazakh Halyk Bank to press ahead with dividend under new regulations

Halyk Bank AO

05/06/2023 13:56

ALMATY, June 5 (Reuters) - Kazakhstan's Halyk Bank
 HSBK.KZ   HSBKq.L  will press ahead with a planned dividend
payment after complying with new regulations that required it to
first repay some of the aid received from the government, the
bank said on Monday.
    Halyk Bank said it had returned to a state fund 28.4 billion
tenge ($63.4 million) from a deposit previously held by
Kazkommertsbank, a lender that Halyk took over in 2017 as part
of a government-orchestrated bailout.
    Kazakh authorities said last month they would make it
mandatory for banks to repay state aid before sharing profits
with shareholders.

($1 = 447.8800 tenge)

 (Reporting by Olzhas Auyezov; Editing by Susan Fenton)
 ((olzhas.auyezov@thomsonreuters.com; +7 727 2508 500; Reuters
Messaging: olzhas.auyezov.thomsonreuters.com@reuters.net))