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Sber sees interest in Kazakhstan subsidiary from Russia, China, Turkey, UAE

The asset is in excellent condition in terms of loan portfolio quality, reserves, capital, and efficiency, the press service of the bank told

MOSCOW, May 12. /TASS/. Sberbank sees interest in its subsidiary in Kazakhstan from investors from Russia, Kazakhstan, China, Turkey, and the United Arab Emirates, and considers various options for the asset’s future, the press service of the bank told TASS.

"Sberbank is considering various options. We are actually receiving offers to purchase our subsidiary bank in Kazakhstan and see interest from investors from different countries - from Russia and Kazakhstan, as well as China, Turkey, and the United Arab Emirates," the bank said, adding that the asset is "in excellent condition in terms of loan portfolio quality, reserves, capital, and efficiency".

In February-March, subsidiaries of VTB, Alfa-Bank and Sberbank in Kazakhstan came under US sanctions. On May 6, CenterCredit bank in Kazakhstan announced it had completed the acquisition of 100% of the ordinary shares of Alfa-Bank Kazakhstan. After re-registration, the bank will operate under the new Eco Bank brand.

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