site.news_by_theme Halyk Bank
Halyk Bank of Kazakhstan has appointed a new Deputy Chairman of the Management Board.
Chairman of one of Kazakhstani banks says that the tenge deficit in Kazakhstan is created artificially.
The newly purchased entity has been renamed to Altyn Bank and is to be a separate legal entity as planned.
According to the press-release, the deal is subject to approval and is expected to be finalized in 2014.
Samruk-Kazyna made Halyk Bank an offer to purchase its stake in BTA March 27, 2013.
The deal to purchase BTA by Halyk Bank may take longer than planned; one shouldn’t rule out the possibility of Halyk Bank giving up on the idea of purchasing BTA in case Kazakhstan Government doesn’t offer concessions in terms of price.
Purchase of BTA by Halyk Bank and sales of Halyk Bank’s pension fund [to the Government] should be separate deals: Halyk Bank Chairman of the Board Alexander Pavlov.
Halyk Bank has entered negotiations over the offer to purchase BTA. The due diligence is under way.
In case of this deal Halyk will become the biggest Kazakhstan bank by assets and its market share will make over 25 percent.