Kazakhstan's Kaspi Bank acquires status of bank holding company12 november 2015, 18:49
One of largest Kazakhstan’s banks Kaspi Bank has acquired the status of a bank holding company, Tengrinews reports citing the press office of the bank.
The National Bank of Kazakhstan granted the status of a bank holding company to Kaspi Bank, a leading retail bank in Kazakhstan. Consequently, Kaspi JSC became an indirect owner of around 90 percent of Kaspi Bank.
At present, the company's shareholders are Vyacheslav Kim, Kairat Satybaldyuly, Michael Lomtadze and Baring Vostok Capital Partners, one of the leading private equity firms operating in the post soviet space.
“We have created a new Kaspi holding. Two new shareholders joined us - Kairat Satybaldyuly, who is an old friend of mine and my long time partner, and Michael Lomtadze, Chairman of Kaspi Bank, with whom we have been business partners for 10 years. Today Kaspi Bank is the main asset of the holding and together with our partners, we plan to invest in new interesting and innovative projects,” Chairman of Board of Kaspi Bank Vyacheslav Kim said.
Baring Vostok co-managing partner Michael Calvey also welcomed new shareholders: “We welcome new shareholders and partners Michael Lomtadze and Kairat Satybaldyuly. This opens more opportunities for us to implement our long-term strategy aimed at the development of innovative services in the bank and beyond. We have rich experience and opportunities for successful implementation of our plans."
Shares of Michael Lomtadze and Kairat Satybaldyuly account for slightly less than 10 percent each. In the near future, they plan to increase their stakes by more than 10 percent, when they obtain the status of a major shareholders of the bank.
By Assel Satubaldina