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BTA might sell its foreign assets

12 may 2011, 17:09
Anvar Saidenov. Photo by Yaroslav Radlovsky©
Anvar Saidenov. Photo by Yaroslav Radlovsky©
BTA Bank does not preclude selling its foreign assets, KazTAG reports.

As per the Chairman of the Bank Anvar Saidenov, Belarus branch is the least problematic for BTA. It is small and yet rather profitable.

“We do not preclude that there is an interest and that an offer may be made that will compensate for our investments and possibly even bring an additional profit,” Saidenov said.

He added that the bank may consider an offer to sell a stake in BTA to Ukrainian insurance company Oranta.

London-Almaty insurance company has been up for sale for a long time. I think that we will continue negotiations on evaluation of the cost of our stake or the whole company, hiring sales consultants and attraction of investors to London-Almaty,” said BTA top executive.

Sekerbank might be considering an offer as well. “There are no final offers yet. We have to take into account interests of other shareholders of the bank and the regulator's position,” Saidenov said.

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