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First Heartland Jýsan Bank to merge with sister unit

Kazakhstan-based First Heartland Jýsan Bank plans to merge with with sister unit JSC First Heartland Bank, with their shareholders set to vote on the planned merger June 27.

The shareholders will also approve during their meeting the share exchange ratio that will be applied during the merger.

Formerly operating as Tsesnabank, First Heartland Jýsan Bank is controlled by First Heartland Securities, which is part of a financial group ultimately controlled by state-owned Nazarbayev University and also includes First Heartland Bank.