ANALYSIS: Foreign banks drive M&A activity in Kazakhstan

Unlike in most emerging economies, Kazakhstan’s banking sector has so far remained largely in local hands. However, recent acquisitions of local lenders by European and Asian banks suggest that the trend is changing.

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ATF Bank sold its stake in Tajik Sokhibkorbank

ATF Bank, Kazakhstan’s fifth largest bank, has sold its stake in Tajikistan’s Sokhibkorbank, the bank announced on Saturday.

ATF Bank held a 75.1% in Tajik Sokhibkorbank.

ATF Bank will change its name to UniCredit Bank

(SRI) - Kazakh ATF Bank will be renamed to UniCredit Bank, according to an executive of the Italian banking group.

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ANALYSIS: UniCredit prepares to press on with integration of Kazakh bank ATF

With a long-standing share dispute now nearing resolution, UniCredit is preparing to start rebranding and growing Kazakhstan’s ATF Bank, its Central Asian acquisition.

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ATF Bank raised $100 million

ATF Bank, Kazakhstan’s fifth largest bank and a subsidiary of Italian UniCredit, has raised $100 million in loan funds, the bank announced.

The loan consists of two tranches payable in three and five years. It will be insured by SACE - Servizi Assicurativi del Commercio Estero, an export loan agency of Italy.

Citibank N.A. is the loan’s organizer while Citibank International Plc, London is the agent. “Along with organizer, the loan will be provided by several major financial institutions,” the statement said.

The funds will be used to finance the bank’s corporate targets.

Consolidation of Kazakhstan’s Banking Sector Likely

Two weeks ago, Korean Kookmin Bank announced that it held talks with Bank CenterCredit to buy a controlling stake in the mid-size Kazakh bank.

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