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A common view of the headquarters of the Halyk Financial institution in Almaty, Kazakhstan, February 16, 2016. REUTERS/Shamil Zhumatov
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April 13 (Reuters) – Kazakhstan’s Halyk Financial institution (HSBK.KZ) has purchased 330 billion Kazakh tenge ($732.1 million) of Sberbank’s (SBER.MM) mortgage portfolio in Kazakhstan, the banks stated in a joint assertion on Wednesday.
“For shoppers it would take the type of a painless switch to a different financial institution. For our associate financial institution this is a chance to extend its mortgage portfolio.
“We, in flip, will get extra liquidity required to satisfy the wants of our shoppers from this deal,” Yeldar Tenizbaev, head of Sberbank Kazakhstan, stated within the assertion.
($1 = 450.75 Kazakh tenge)
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Reporting by Reuters; modifying by Jason Neely
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