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Azamat Joldasbekov appointed Temirbank Board Chariman

31 december 2013, 17:46
0
Azamat Joldasbekov. ©Yaroslav Radlovsky
Azamat Joldasbekov. ©Yaroslav Radlovsky
Azamat Joldasbekov has been appointed the new Chairman of the Board of Directors at Temirbank, Tengrinews reports citing the official website of the Kazakhstan Stock Exchange (KASE).

"Azamat Joldasbekov was appointed Chairman of the Directors Board of Temirbank by the resolution of the Bank's Board of Directors as of December 30, 2013," the bank's message to KASE said.

Joldasbekov is a member of the Directors Board and an independent director at Temirbank, UlarUmit Pension Fund and Central Securities Depository. He used to be President of KASE in 2002-2009 and was re-elected to the position in June 29, 2013 again.

Earlier this month Temirbank terminated its CEO Murat Baisynov and appointed Mukhabbat Seitova as the new CEO on December 18.

All this reshuffling has been taken place after prominent Kazakhstan businessman Bulat Utemuratov purchased a stake in the bank.

Samruk-Kazyna Sovereign Wealth Fund that held 79.88% of the common stock in Temirbank inked the deal with Bulat Utemuratov earlier this month. The deal makes the Kazakhstan billionaire the majority shareholder.

The purchase will be finalized in the first quarter of 2014 after the regulatory authorities approve the deal. Prior to closing, Mr. Utemuratov intends to meet with Temirbank creditors and later make an offer to the minority shareholders of the bank.

According to Kazakhstan's financial regulator, the Financial Supervision Agency, Temirbank was ranked 13th out of 38 Kazakhstani banks in terms of assets as of September 2013.

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