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Samruk-Kazyna searching for investors for its subsidiary banks

08.02.2013, 13:08 7088

Astana. February 8. Kazakhstan Today - Samruk-Kazyna National Welfare Fund is in process of withdrawing from the capital of three Kazakh banks: BTA Bank, Alliance Bank and Temirbank, Kazakhstan Today reports.

"In order to assess the market value (of the three banks), we need to engage independent evaluators ... Perhaps it will be the "big four" auditing firms, we will make an assessment of the banks," said at a briefing in Astana, deputy chairman of the Fund Elena Bakhmutova.

She reported that the Fund begins searching for a strategic investor for BTA Bank. "It could be anyone, who would meet the criteria of controller and who can provide the highest possible return entrusted investment. It does not matter whether it is foreign or domestic investors. We are open to any suggestions," she added.

"As for Alliance Bank and Temirbank, maybe we'll start looking for an investor who could buy both of the banks at a time. Situation at Alliance Bank is quite normal. It works well with clients, there are some positive results. But taking into consideration new regulatory requirements that will be introduced in phases, starting this year, additional capitalization of Alliance Bank is needed. Temirbank has excess capital. This is a contributing factor for the simultaneous sale of the two banks in order to neutralize the one hand the lack, and with another - excess capital," said the deputy head of NWF.

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