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Kazakh BankPozitiv gets new owner

Kazakh BankPozitiv gets new owner

Date: 5 January 2016 14:32

Baku, Azerbaijan, Jan. 5

By Elena Kosolapova – Trend:

Kazakhstan’s Eurasian Bank has acquired 100 percent of shares in the BankPozitiv Kazakhstan. The deal means that the Eurasian Bank becomes the new owner of the BankPozitiv.

The Kazakhstan Stock Exchange said Jan. 5 that the deal to purchase the BankPozitiv Kazakhstan from Turkey’s BankPozitif Kredi ve Kalkinma Bankasi A.S. was registered December 30.

The BankPozitiv Kazakhstan was originally named the Azamat Bank in 1992. Later it was renamed to Alkombank.

Turkish Demirbank T.A.S. bought 98.89 percent of shares in the bank in 1997, and afterwards, it was renamed to Demir Kazakhstan Bank.

A deal was stroke for purchase of the Demir Kazakhstan Bank by Turkish BankPozitif in 2007. The bank was then renamed to BankPozitiv Kazakhstan in 2008.

As of late 2014, the bank’s assets stood at $96.575 million.

The Eurasian Bank is the tenth largest bank in Kazakhstan in terms of its assets. The bank has been operating since 1994.

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