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 EU needs a strategy by 2011 to encourage the creation of green jobs, says a draft resolution by the Employment and Social Affairs Committee that was adopted on Wednesday.
more »
Householders should not have to go without gas due to a gas-supply crisis, and such crises should be better managed, thanks to EU-wide co-ordination procedures and interconnection requirements laid down in draft legislation agreed informally with the Council at the end of June and approved by the Industry Committee on Tuesday.
more »
Today the Council has taken the formal decision which will pave the way for the introduction of the euro in Estonia as of 1 January 2011 and will become the 17th European Union country to share the euro currency.
more »
Proposals to improve protection for bank account holders and retail investors, and set up similar schemes for insurance policies.
more »
How should the EU's farm policy be reshaped and how should it be funded after 2013?
more »
MEPs on Wednesday approved some of the strictest rules in the world on bankers' bonuses.
more »
Long before the financial crisis the European Parliament regularly pointed out the significant failures in the EU’s supervision of ever more integrated financial markets.
more »
New strategy for stimulating tourism in Europe – to realise the full potential of an industry that already plays an important role in the economy.
more »
The European Commission has disclosed who in 2009 received EU funds in policy areas like research, education and culture, energy and transport or external aid.
more »
The European Commission has approved 19 programmes in 14 Member States (Austria, Belgium, Czech Republic, Denmark, Germany, France, Greece, Italy, Ireland, the Netherlands, Poland, Slovenia, Spain and the United Kingdom) to provide information on and to promote agricultural products in the European Union.
more »