A Qatari investor is valuing Kazakh bank Bereke, which was previously a subsidiary of Sberbank in the republic. This was announced by the president of the Agency for Regulation and Development of the Country’s Financial Market, Madina Abylkasimova.
In March 2022, Bereke Bank was subject to US sanctions, and in September of the same year, Sberbank sold its structure to the national holding Baiterek. Upon completion of the transaction, the new owner submitted a sanctions relief request to OFAC and six months later the organization was removed from the sanctions list.
According to Abylkasymova, potential investors are now being identified for the development of various assets in Kazakhstan. The possible sale of the bank is the most developed agreement so far.
“The due diligence procedure is currently being carried out together with Qatari investors. Now the Qatari investor is only making an evaluation of this bank, based on the results of which they will determine the price,” Abylkasymova said, quoted by Interfax.
He also added that the Kazakh regulator is conducting an audit of banking legislation and plans to simplify the entry of foreign banks into the local market.
Author:
Natalia Gormaleva
Source: RB
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