NEWCOMERS DRIVE KAZAKH CONSOLIDATION PROCESS

摘要

The reprivatisation of restructured banks rescued by the sov-ereign holding company Samruk-Kazyna in 2009 promises to precipitate a much-needed banking consolidation in Kazakhstan. The country has 38 banks, but this number could be reduced by as much as 10% if mergers go through. The catalysts in the process of banking consolidation are local magnate Bulat Ute-muratov, who is currently seeking to push together Alliance and Temir banks, and Kaz-kommertsbank (KKB), with its new partner Kenges Rakishev, which is seeking to acquire BTA Bank. Both deals are currently under negotiation with Samruk-Kazyna, which took over BTA and Alliance, and spun Temir out of BTA, during the financial crisis.