Kazakh billionaire Bulat Utemuratov is looking at acquiring Alliance Bank and Temirbank as the country’s government sells lenders it acquired in bailouts, according to two people with knowledge of the matter.
In a Muslim cemetery on a hill above Almaty, Kazakhstan’s largest city, a bronze bust of Erzhan Tatishev faces away from the headquarters of the bank he once led. It’s a fitting final gesture for BTA Bank JSC’s first chief executive officer, who died of a gunshot wound while hunting wolves near the Kyrgyzstan border in 2004.
Pension fund companies in Kazakhstan should sell shares on public stock markets to allow them to meet new requirements that take effect in the coming years, the head of the country’s market watchdog said.
Kazakhstan will consolidate state stakes in BTA Bank, Temirbank and Alliance Bank, three of the four Kazakh lenders that defaulted in 2009, in a new management company, central bank Chairman Grigori Marchenko said.