June 15, 2017 / 8:46 AM / 2 months ago

Kazakh Halyk Bank to inject $585 mln into Kazkommertsbank

ALMATY, June 15 (Reuters) - Kazakhstan's Halyk Bank , said on Thursday it will provide 185 billion tenge ($585 million) to lender Kazkommertsbank after buying nearly a full control over the troubled bank.

Halyk Bank also said it will buy a 96.81 percent stake in Kazkommertsbank, or KKB for a symbolical sum of 2 tenge ($0.006) in a deal that should be finalised by the end of the week. (Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; Editing by Andrey Ostroukh)

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