Baiterek Holding buys Sberbank Kazakhstan

Baiterek National Managing Holding is in the process of purchasing the entire stake in Sberbank Kazakhstan, a subsidiary of Sberbank, Kazinform learnt from the Holding’s website.

The Bank decided to withdraw from Kazakhstan’s market due to the current geopolitical situation. This decision is driven by customer care.

Sberbank Kazakhstan has a sufficient liquidity cushion and a high-quality loan portfolio and has been one of the main banks in Kazakhstan for many years.

When deciding to acquire Sberbank Kazakhstan, Baiterek Holding assessed its importance for the country’s financial system. The bank’s up-to-date infrastructure and technologies will allow it to return to work in a short time and continue financing the real sector of the economy of Kazakhstan.

The Bank will continue to fulfill its obligations to customers. All loan conditions for existing customers will remain unchanged.

The deal will allow the bank to resume active operations, attract deposits, make payments, and continue developing products and services.

The professional team of Sberbank Kazakhstan, which has over 15 years of experience, will continue to work.

The parties plan to close the deal in the near future.