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ALMATY/TASHKENT - Kazakhstan’s JSC Halyk Bank announced Wednesday it has signed a strategic agreement to acquire a 49% stake in Click JSC, Uzbekistan’s leading payment services provider, for $176.4 million.
As part of the reciprocal deal, Click’s shareholders will acquire a 49% stake in Halyk’s Uzbek subsidiary, Tenge Bank JSCB, for $60.76 million. Both transactions remain subject to regulatory approvals in Kazakhstan and Uzbekistan.
The partnership combines Halyk Bank, Central Asia’s largest financial group with assets exceeding $37.5 billion, and Click, which serves over 20 million users in Uzbekistan through its payment platform and digital wallets.
Click operates as a SuperApp in Uzbekistan, offering services ranging from payments and insurance to delivery and government services. The company reported 35.3% revenue growth and a 37.5% increase in net profit in 2024.
Through this cross-shareholding arrangement, both companies will maintain their independent legal structures while creating opportunities for collaboration in Uzbekistan’s financial and fintech services market.
Halyk Bank’s total investments in Uzbekistan amounted to approximately $1.5 billion as of July 1, 2025, according to the press release statement. The partnership will allow the Halyk Group to reach a combined client base of over 32.1 million people across Kazakhstan and Uzbekistan.
Halyk Bank is publicly listed in Kazakhstan and has maintained a Global Depositary Receipt listing on the London Stock Exchange (LON:LSEG) since 2006. International institutional investors from the US, UK, Europe, and Asia hold 28.3% of the bank’s shares.
Both companies confirmed that their existing customer relationships and contractual obligations will remain unchanged following the transaction.
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