BAKU, Azerbaijan, May 11. Kazakhstan’s subsidiaries of Russian Sberbank and VTB banks are to be sold to a new owner, Madina Abylkassymova, Head of Kazakhstan’s Agency for the Regulation and Development of the Financial Market said, Trend reports citing Kazakh media.
In her words, due to the damage associated with the sanctions imposed on the parent banks, Sberbank Kazakhstan and VTB Kazakhstan are taking steps to look for new investors for the change in the bank’s owner.
As the possible future new owner of the bank is identified, the Agency, from its side, will offer its support to the ownership transfer process, she said.
To date, Sberbank Kazakhstan has already sold a share of its loan portfolio worth 330 billion tenge ($760.3 million) to Kazakhstan’s Halyk Bank.
