12th Mar 2008 13:24
JSC Halyk Savings Bank Kazakhstan12 March 2008 12 March 2008 Joint Stock Company 'Halyk Savings Bank of Kazakhstan' Memorandum of Understanding signed with Daewoo Securities On 10 March 2008 JSC 'Halyk Finance', the investment banking subsidiary of JSC 'Halyk Savings Bank of Kazakhstan' (Halyk Bank), and Daewoo Securities signed aMemorandum of Understanding. Both firms have agreed on their mutual cooperationin investment banking activities in Kazakhstan and Central Asia. Daewoo Securities plans to launch various financial products to corporate andretail clients in Korea for investments in Kazakhstani and Central Asiancompanies with a solid potential for growth through local expertise and clientnetwork of Halyk Finance. Mr. Sung Tae Kim, CEO of Daewoo Securities, said that "Kazakhstani and CentralAsian markets have a huge upside potential and Almaty is well positioned tobecome the main financial hub of this region. We have established a strongconnection with our Eastern and Southeastern investors from China, Japan,Malaysia, Indonesia and Vietnam." He also added that "Daewoo Securities is setto further strengthen its standing as the global investment banking companythrough its newly established cooperation with such premier local investmentbanking firm as Halyk Finance." Mr. Samir Khassanov, CEO of Halyk Finance, said that "on behalf of Halyk Group,we are honoured that such a respectable financial institution as DaewooSecurities approached Halyk Finance as a partner of choice to launch itsinvestment banking operations in Kazakhstan. We believe that presence of DaewooSecurities in Kazakhstan will not only provide access to local financial marketfor a whole new client base from Eastern and Southeastern Asia, but also helpfurther develop the Kazakhstani capital market." Daewoo Securities, established in 1970, is a leading full-service investmentfirm of 3,068 employees and 119 branch offices nationwide, which offers a widerange of financial services in South Korea. It ranks among the nation's topdomestic brokers and is the top investment banking player in the Korean market.The Korean Development Bank is the majority shareholder of Daewoo Securitieswith a 39.1% stake. Halyk Finance is the premier investment banking firm in Kazakhstan and CentralAsia which has aggressive plans for further business expansion in the regionthrough sales and trading activities, securities' underwriting, prime brokerage,asset management, advisory services and research. Halyk Finance is wholly-ownedby Halyk Bank, one of the leading Kazakhstani financial services holdingsoffering a broad range of services in commercial and investment banking, pensionfund and asset management, insurance and leasing to its retail, SME andcorporate customers across the region. - ENDS - For further information please contact: Assel Atinova [email protected] +7 727 259 04 30 Zhanar Kairbayeva [email protected] +7 727 244 77 65 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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