Kazakhstan Chamber of Commerce in the USA

KazCham


Kaspi Bank shareholders to set up new holding company

Posted on October 23, 2011 by Alex

Kaspi Bank, Kazakhstan’s eighth largest bank, said on Monday that the National Bank of Kazakhstan had approved an application of its shareholders to create a new Kazakhstan-registered holding company to manage their banking assets. Caspian Financial Group, the new  holding  company, will replace Dutch  Caspian  Group BV, which held roughly 95% of shares in the bank.  Just like the Dutch investment vehicle, the new holding will be jointly owned by the Baring Vostok Private Equity Fund III and Kaspi’s chairman, Vyacheslav Kim.

“The main and only activity of the holding will be the ownership and management of its financial assets. At the moment, it is [only] Kaspi Bank, but we do not rule out the possibility of expanding the range of financial services offered to our clients,” Kaspi Bank CEO Michael Lomtadze was quoted as saying in the statement.

SOURCE: http://silkroadintelligencer.com/wp-content/files/srikznewsbrief_oct19_2011.pdf

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