In Kazakhstan 33.33% of Halyk Bank state block is put on sale

/IRBIS, Nov 20, 01/ - REUTERS informs that on Tuesday in capital of Kazakhstan, Astana, a sales of 33.33% state block of Halyk Bank of Kazakhstan shares started. It will go from 3:00PM to 5:00PM local time and results will be given afterwards, is said. The starting bid of the block is $35m and it is sold in a single lot. Ministry of Finance was naming the biggest private bank, Kazkommertsbank and consortium Kazakhstani investor which unites Bank CenterCredit and Temirbank, as well as other companies as the potential buyers of the block. However, it is said that another participant is taking part in the sales, which is Mangistaumunaigas. It has been said that Kazkommertsbank controls 32% of Halyk Bank shares used as a collateral for overdue credits which have been extended later. Halyk Bank (formerly subsidiary of Savings bank of USSR in Kazakhstan) has the widest network of branches in the country.