July 5, 2017 / 6:57 AM / 2 months ago

Kazakh Halyk Bank completes Kazkommertsbank takeover

ALMATY, July 5 (Reuters) - Kazakhstan's largest lender, Halyk Bank , has completed a takeover of troubled rival Kazkommertsbank, Halyk said on Wednesday, and will inject 185 billion tenge ($571 million) into its capital.

Halyk Bank said last month it would buy a 96.81 percent stake in Kazkommertsbank, the Central Asian nation's No.2 lender by assets, for a symbolical sum of 2 tenge ($0.006). (Reporting by Olzhas Auyezov; editing by Katya Golubkova)

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