ForteBank buys all shares of another Kazakh bank
Baku, Azerbaijan, Dec. 14
By Rashid Shirinov – Trend:
Kazakhstan's ForteBank has bought 100 percent of the shares of Kassa Nova bank owned by Nova Leasing, Trend reports citing Kazakh media.
Guram Andronikashvili, Chairman of the ForteBank Board, said that the group's banking assets will be consolidated this way. Customers of both banks will have access to product and technology solutions.
"The banks will work to further improve the synergy and efficiency of their resources," Andronikashvili noted.
The deal is expected to be closed immediately after obtaining the permissions of the National Bank and creditors. Chairman of the Kassa Nova Board Sholpan Nurumbetova noted that this transaction is in line with the bank’s business development strategy.
"The upcoming deal will give impetus to the growth of business and profitability of Kassa Nova. We are confident that our customer base will not only remain, but will also increase due to the strengthening of Kassa Nova’s position in the Kazakh market thanks to access to ForteBank technologies", she added.
Kassa Nova bank will operate as a full-fledged subsidiary bank and fulfill its obligations to depositors, creditors and investors.
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