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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Kazakh ruler tells wealth fund to sell bailed-out banks

Posted on 05 February 2013

Kazakh President Nursultan Nazarbayev has ordered the re-privatisation this year of three banks bailed out by the state’s national wealth fund, the presidential news service said on Monday.
As a result of injecting billions of dollars in aid during the global financial crisis the Samruk-Kazyna fund now owns over 97 percent of BTA, the country’s third-largest bank by assets, 67 percent of Alliance Bank , the eighth-largest lender, and 79.9 percent of Temirbank, 13th in order of size among the country’s 38 banks…………………………………….Full Article: Source


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