Baku, Azerbaijan, March 2
By Elena Kosolapova – Trend:
Kazakhstan’s Halyk Bank has an intention to buy shares of Kazkommertsbank, the Kazakh National Bank said in a message March 2.
This is envisaged by the memorandum of understanding signed between Kazakh Government, National Bank, National Wealth Fund Samruk-Kazyna, Fund of Problem Loans, Kazkommertsbank and its major shareholders – Halyk Bank and BTA Bank.
The memorandum is aimed at financial stability and recovery of the country’s banking sector.
The National Bank said it, along with the Government, is ready to provide financial support to the purchase deal.
In January, Halyk Bank and Kazkommertsbank announced that they had entered preliminary discussions regarding a potential deal. The details of the deal were not disclosed.