BAKU, Azerbaijan, September 2. Sberbank Group and Baiterek National Management Holding signed the purchase and sale agreement on the entire book of shares of Sberbank's subsidiary in Kazakhstan (Sberbank JSC), Trend reports via Sberbank.
The agreement was made on mutually acceptable financial conditions and received all the necessary regulatory approvals.
Sberbank will continue to fulfill all of its obligations to customers, and all conditions for banking products for existing customers will remain unchanged.
Baiterek assesses the high importance of the bank to the country's financial system. Kazakhstan's Sberbank subsidiary has modern infrastructure and technologies that allow it to fully operate and continue financing the real sector of the country's economy.
The transaction will allow the bank to resume fully active operations, attracting deposits and making payments, as well as continue developing products and services for the public and business. In the near future, it's planned to rebrand Kazakhstan's Sberbank subsidiary.
Baiterek will also strive to ensure the smooth operation of the bank and create favorable conditions for the development and improvement of banking services for both existing and new customers of the bank.