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Russia’s Sberbank sees no possibility of purchasing BTA

30 november 2011, 23:28
German Gref. ©RIA Novosti
German Gref. ©RIA Novosti
Sberbank of Russia sees no possibility of purchasing BTA Bank, the Bank’s Chairman German Gref announced November 30, Novosti Kazakhstan reports.

“We did consider purchasing BTA. But so far we don’t see any possibility of purchasing the bank”, Mr. Gref told at a press-conference.

“There are a number of reasons. First of all, the decision has to do with the vision and strategy of Sberbank’s operations in the Kazakh market”, he said.

May 30 Tengrinews.kz quoted German Gref as saying that the deal on purchasing BTA was “probabilistic”.

Kazakhstan’s Sovereign Wealth Fund Samruk-Kazyna holds 81.48% in the BTA Bank.

The Government [represented by Samruk Kazyna Sovereign Fund] is expected to sell its stakes in in BTA, Temir Bank and Alliance Bank before 2014, KazTAG reported April 6. This was announced by Kairat Kelimbetov, the then Chairman. He made this announcement at the Minex Central Asia – 2011 mining forum in Astana.

In 2009, as part of the government’s anti-crisis package, Samruk-Kazyna Sovereign Wealth Fund bought common stock in the mentioned above banks.

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