Sberbank has no interest in buying stakes in Kazakhstan banks 23 мая 2012, 17:09
Sberbank has no interest in buying stakes in Kazakhstan banks
Sberbank of Russia is not interested in buying stakes in Kazakhstan-based banks, Newskaz.ru reports, citing Sberbank's CEO Herman Gref as saying May 23.
Though, Sberbank was considering purchasing a stake in the bailed out BTA bank following the latter’s first debt restructuring. The ultimate decision at that time was that “Sberbank’s management sees no possibility to buy the [BTA] bank”.
Tengrinews.kz reported earlier, citing Mr. Gref as saying at his talks with President Nazarbayev May 22, that Sberbank is striving to become a key bank in Kazakhstan.
“We are constantly growing our presence in Kazakhstan and have no intention of buying any assets. Sberbank’s Kazakhstan subsidiary is quite large and we no longer need acquisitions”, KazTag Agency reports, citing Mr. Gref as saying on the sidelines of the V Astana Economic Forum May 23.
Sberbank’s investments into the real sector in 2011 totaled $2.7 billion, with the overall figure since 2008 standing at over $6 billion.
The Kazakhstan subsidiary’s net profit in 2011 made up $74.8 million, 4.2 times up against 2010. As of the end of Q1 2012, Kazakhstan-based Sberbank was ranked 6th by assets.