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Temirbank is ready to merge with Alliance Bank and is waiting for the shareholders’ decision, KazTAG reports citing chairman of Temirbank Murat Baissynov. “This is for shareholders to decide, as it is related to development strategy. If the decision is made, we are ready to merge. But the decision is theirs to make,” Baissynov said. Earlier deputy chairman of Samruk-Kazyna National Welfare Fund Yelena Bakhmutova said that the Fund was considering different ways to increase effectiveness of the two nationalized commercial banks - Alliance Bank and Temirbank. Their merger was one of the options. Besides, Alliance “sees a point in merger with Temirbank and Temirbank supports the idea of the merger with Alliance Bank”. Temirbank is ranked 13th by assets in Kazakhstan. According to the Commission on Regulation and Control of Financial Market and Financial Organizations of Kazakhstan National Bank, the bank’s assets made 297.19 billion tenge ($1.9 billion), its obligations equaled to 215.75 billion tenge ($1.4 billion) and the own capital made 71.45 billion tenge ($476 million) as of March 1, 2013. Its outstanding losses made 175.56 million tenge ($1.2 million) in January-February 2013. According to Kazakhstan Stock Exchange (KASE), Samruk-Kazyna owned 78.77 percent of the bank’s stake and the remaining 19.54 percent were owned by The Bank of New York Mellon as of January 1, 2013. According to the Commission, Alliance Bank is ranked 8th in Kazakhstan’s banking system. The bank’s assets made 601.74 billion tenge ($4 billion), the obligations equaled to 567.57 billion tenge ($3.8 billion) and the own capital made 34.17 billion tenge ($227 million) as of March 1, 2013. Its outstanding losses made 2.11 billion tenge ($14 million) in January-February 2013. According to KASE, Samruk-Kazyna owned 67 percent in Alliance Bank as of April 1, 2013.
Temirbank is ready to merge with Alliance Bank and is waiting for the shareholders’ decision, KazTAG reports citing chairman of Temirbank Murat Baissynov.
“This is for shareholders to decide, as it is related to development strategy. If the decision is made, we are ready to merge. But the decision is theirs to make,” Baissynov said.
Earlier deputy chairman of Samruk-Kazyna National Welfare Fund Yelena Bakhmutova said that the Fund was considering different ways to increase effectiveness of the two nationalized commercial banks - Alliance Bank and Temirbank. Their merger was one of the options. Besides, Alliance “sees a point in merger with Temirbank and Temirbank supports the idea of the merger with Alliance Bank”.
Temirbank is ranked 13th by assets in Kazakhstan. According to the Commission on Regulation and Control of Financial Market and Financial Organizations of Kazakhstan National Bank, the bank’s assets made 297.19 billion tenge ($1.9 billion), its obligations equaled to 215.75 billion tenge ($1.4 billion) and the own capital made 71.45 billion tenge ($476 million) as of March 1, 2013. Its outstanding losses made 175.56 million tenge ($1.2 million) in January-February 2013.
According to Kazakhstan Stock Exchange (KASE), Samruk-Kazyna owned 78.77 percent of the bank’s stake and the remaining 19.54 percent were owned by The Bank of New York Mellon as of January 1, 2013.
According to the Commission, Alliance Bank is ranked 8th in Kazakhstan’s banking system. The bank’s assets made 601.74 billion tenge ($4 billion), the obligations equaled to 567.57 billion tenge ($3.8 billion) and the own capital made 34.17 billion tenge ($227 million) as of March 1, 2013. Its outstanding losses made 2.11 billion tenge ($14 million) in January-February 2013.
According to KASE, Samruk-Kazyna owned 67 percent in Alliance Bank as of April 1, 2013.
