KB Moskommertsbank, LLC

2022: Halyk Bank of Kazakhstan sold 100% of Moskommertsbank shares

Halyk Bank of Kazakhstan (Halyk Bank) in December 2022 sold 100% of its subsidiary in Russia - Moskommertsbank. This became known in mid-March 2023.

As Kommersant writes with reference to the reports of Halyk Bank, the transaction cost amounted to 7.3 billion tenge. The buyer of Moskommertsbank is not named. In December 2022, Halyk Bank also closed a deal to sell its subsidiary in Tajikistan - Halyk Bank Tajikistan Bank. The International Bank of Tajikistan acquired it for 2.6 billion tenge.

One of the branches of Moskommertsbank

Frank Media clarifies that the sale of Moskommertsbank was closed on November 18, 2022. Reporting on it, Halyk Bank noted that "information on the transaction and the amount of the transaction is not subject to disclosure" due to the requirements of the buyer.

The decision to sell [Moskommertsbank] was made on the basis of a comprehensive analysis of the activities and development prospects of the subsidiary bank. Following the strategic principle of developing the most promising business areas, Halyk Group decided to focus its resources and efforts on highly efficient and profitable projects with great potential for further growth, the press service of the Kazakhstan credit institution explained.

Moskommertsbank mainly provides lending services to small and medium-sized businesses (SMEs), the corporate sector, as well as works on the issuance of bank guarantees and acquiring in trade and service points. According to the Unified State Register of Legal Entities, the bank has an authorized capital of more than 3 billion rubles (by March 2023).

Halyk Group carries out banking, insurance, brokerage and leasing activities. The core of the group is Halyk Bank - the largest bank in Kazakhstan. It is under the control of Timur and Dinara Kulibaev.^[1]

2018: Moskommertsbank and PBK-Bank complete integration process

The Russian subsidiaries banks of the largest Kazakhstan financial group Halyk announced in May 2018 the completion of the reorganization procedure carried out in the form of the merger of JSC "" (NBK-Bank subsidiary of JSC "") with Halyk Bank of Kazakhstan KB "" (Moskommertsbank JSC) (subsidiary of JSC "").Kazkommertsbank

The corresponding entry in the Unified State Register of Legal Entities of the Russian Federation was made by the Federal Tax Service of the Russian Federation on May 15, 2018. From this date, all the rights and obligations of PBOC-Bank passed to Moskommertsbank, which became the successor to all obligations of PBOC-Bank.

Part of the client base of the combined bank will be clients and partners of the Halyk group, working in the local market as part of joint Russian-Kazakh projects. The bank will focus on providing services to small and medium-sized entrepreneurs, as well as large corporate clients, prioritizing the development of transactional services and trading acquiring.

As a result of the reorganization, the assets of Moskommertsbank exceeded 23 billion Russian rubles, the loan portfolio - 12.4 billion rubles, equity - 5.7 billion rubles. The development strategy of the combined bank provides for active growth in lending, as well as the growth of the client base.

Moskommertsbank is represented by 2 branches in the cities of St. Petersburg and Kaliningrad, as well as 2 credit and cash offices in the cities of Novosibirsk and Chelyabinsk.

The relevant decisions on the reorganization of the Russian subsidiary banks of Halyk Group - NBK-Bank and Moskommertsbank - were adopted by the Board of Directors of Kazkommertsbank JSC on December 28, 2017 and the Board of Directors of Halyk Bank of Kazakhstan JSC on January 8, 2018.