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11.04.2006 20:57

Raiffeisen wants to buy a big bank in Kazakhstan

/REUTERS, Moscow, Vladimir Kuznetsov, April 11, 06/ - An Austrian Raiffeisen International wants to buy one of five big banks of Kazakhstan and may sell its 8.0% in the capital of bank TuranAlem, if it can not increase its shareholding to the control one, Raiffeisen's top-manager said.

"We several times offered to let us increase the shareholding in TuranAlem to the control one, but, on the reason the bank is quickly growing, none of shareholders agree", - Jeffrey Millikan Raiffeisen International's managing director said.

"If the price is good, we can sell this shareholding", - head of branch, controlling assets of Raiffeisen Zentralbank group in East Europe, said.

He says Kazakhstan's banking sector still interests Raiffeisen.

"Our strategy is to buy control in Kazakhstan's big bank", - Millikan said.

Being asked what bank he said: "One of five biggest".

[2006-04-11]