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
The European Commission has authorised under EU state aid rules a €550 million capital injection and a €400 million guarantee in favour of the Austrian bank BAWAG. P.S.K. The Commission found the measures to be in line with EU state aid rules.
more »
EUROSTAT has reported that the sharpest annual decrease in hourly labour costs of -10.9% was observed in Lithuania in the 3rd quarter of 2009.
more »
Statistics Lithuania informs that, according to the Labour Force Survey data, the number of the unemployed in III quarter 2009 made 228.1 thousand.
more »
What has come to be termed as the "Great Recession" seems to have come to an end in the third quarter of 2009.
more »
The European Commission has authorised, under EU State aid rules, a measure adopted by Lithuania to limit the adverse impact of the current financial crisis on exporting firms.
more »
The schedule of Vilnius International Airport (VIA) is supplemented with 3 more new directions; the airline company airBaltic starts regular flights to Paris today, to Munich tomorrow, and to Berlin on Monday.
more »
The Governing Council of the European Central Bank (ECB) has decided to start the main construction works for its new premises in spring 2010.
more »
AB Bank SNORAS was granted the award from NASDAQ OMX Baltic Stock Exchange for the jubilee 15-year listing of the bank’s shares on NASDAQ OMX Vilnius Stock Exchange.
more »
Parex banka has established a subsidiary, SIA NIF, which will professionally manage assets that are not related to the Bank’s core business.
more »
Mariann Fischer Boel, European Commissioner for Agriculture and Rural Development, today put forward a plan to ensure that Greece will put in place the systems necessary to allow EU aid payments to be made to farmers.
more »