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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Kazakhs need bad banks to cut loan delinquency, Kelimbetov says

Posted on 06 December 2013

Samruk-Kazyna, the country’s sovereign wealth fund, is seeking to sell stakes in Kazakh banks. It owns a 79.9% stake in Temirbank, 67 percent in Alliance Bank and 97.3 percent of BTA Bank. The fund is considering a sale of its entire holding in Temirbank and 16 percent of Alliance Bank, to Kazakh billionaire Bulat Utemuratov, Interfax reported Nov. 20.
Several potential buyers are examining BTA’s finances, and while the sale probably won’t be completed this year, the most likely bidders may become known before year-end, said Kelimbetov, the former chief executive of Samruk-Kazyna………………………………………..Full Article: Source


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