The European Bank for Reconstruction and Development bought 15 percent of Kazakhstan's largest bank, Kazkommertsbank (KKGB.KZ) on Friday, and the bank said it was looking to list on the New York Stock Exchange
Published:
7 June 2003 y., Saturday
The deal, worth $30.6 million and signed by EBRD President Jean Lemierre with Kazkommertsbank chairman Nurzhan Subkhanberdin, is the EBRD's first direct investment into Kazakhstan's banking sector.
Kazkommerts said in a statement it was the EBRD's first purchase of voting shares in any bank in the Commonwealth of Independent States, a loose collection of 12 ex-Soviet republics.
Kazakhstan, a vast former Soviet Central Asian state five times the size of France but with a population of just 15 million, has the most successful economy in the region, and the most advanced banking sector.
"This country has a very good banking sector," Lemierre said at the signing ceremony. "If we are now a shareholder in Kazkommertsbank it's because we trust with full confidence the management of the bank."
Šaltinis:
story.news.yahoo.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In its first meeting in 2010, the Gas Coordination Group, under the chairmanship of the Commission, has focused today on the assessment of the situation on security of gas supply in the EU-27 and countries of the Energy Community and discussed priorities for the work of the Group in 2010.
more »
Luc Van den Brande, President of the EU Committee of the Regions (CoR), has used his first meeting with the President of the European Council, Herman Van Rompuy, to underline the importance of consultation between local, regional and national authorities.
more »
Basile Nkwesi, Directeur Commercial of Multiprint, speaks for dozens of frustrated business managers in this busy enterprise center when he talks about Cameroon’s costly and unreliable electricity.
more »
During 2009, over 2400 new corporate clients, whose total number currently exceeds 16 thousand, began using Bank SNORAS services.
more »
In 2009, the European Investment Bank (EIB) provided EUR 2.5 billion in 16 credit lines for financing the investment projects of SMEs (EUR 1 955 million) and local authorities (545 million) in Spain.
more »
In 2009, the number of counterfeit euro coins removed from circulation was 172 100, down from 195 900 the year before.
more »
Haiti began participating in the International Monetary Fund’s General Data Dissemination System on December 28, 2009, marking a major step forward in the development of its statistical system.
more »
According to the data of NASDAQ OMX Vilnius Stock Exchange, the price of Bank SNORAS registered ordinary shares grew by more than 2.5 times.
more »
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Cadbury PLC of the UK by Kraft Foods Inc. of the US by way of public offer.
more »
Statistics Lithuania informs that construction input prices inNovember 2009, against October, dropped by 0.5 percent.
more »