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TAIB Bank changes name to Capital Bank

06 march 2014, 14:37
Photo a courtesy of Capital Bank
Photo a courtesy of Capital Bank
TAIB Kazakh Bank has changed its name to Capital Bank Kazakhstan after changing hands, Tengrinews reports citing the official website of the bank.

On April 23, 2013 100% of TAIB Kazakh Bank was sold to Orifjon Shodiev, a nephew of the major ENRC shareholder Patokh Shodiev. After the deal, the bank was renamed on February 12, 2014.

The bank has been registered in the Kazakhstan banking system since 1992. TAIB Kazakh Bank is a subsidiary of the TAIB BANK BSC that has the parent bank in Bahrain. The group includes a number of banks and investment funds that operate in the USA, the UK, Turkey, India, and the Middle East. The Dubai Financial Group has been the owner of TAIB BANK BSC since 2007.

The assets of the Capital Bank Kazakhstan (former TAIB Kazakh Bank) made $117 billion as of January 1, 2014 having increased by 382% since last year. The loan portfolio makes more than $24 million. The liabilities amount to $60 million and the deposit portfolio is $4.9 million. In 2013, the bank made $1.3 million in profit. In 2012, TAIB Kazakh Bank suffered a loss of $900 thousand. The net worth of the bank amounted to $56 million as of the report date.

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