Global banking giant HSBC says it has agreed to sell its Kazakhstan division to JSC Halyk Bank for $US176 million ($A195.76 million) in cash.
The disposal of HSBC Bank Kazakhstan is part of the group's strategy to sell non-core assets, it added in a brief statement on Wednesday.
The transaction is expected to be completed in the fourth quarter of this year.
HSBC had revealed on Monday that in 2013 net profits soared by 15.5 per cent to $US16.2 billion, as it pushed ahead with a major cost-cutting program which is set to continue at least for another two years.
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