BTA to decide on selling of subsidiary Temirbank by the end of summer

/INTERFAX-KAZAKHSTAN, Almaty, June 19, 08/ - Kazakhstan commercial bank BTA Bank will decide on selling of subsidiary Temirbank by September of this year, Georgiy Iosiphyan, member of Board of BTA Bank informed. "We will decide on it in the middle of August. We got preliminary offers from investors with price parameters and now gave them opportunity to make final offer" - he said to Interfax-Kazakhstan agency. According to G. Iosiphyan, for the current moment we have "some optional offers to purchase Temirbank from several participants of International Financial Market". "They suggested their opinion on price parameters. These suggested parameters today are higher than parameter, which we determined for ourselves as if we would consolidate this bank. That's why theoretically we more consider selling model" - agency's company marked. G. Iosiphyan underlined that now the question is what final compulsory price would be, which investors offered after more precise examination of Temirbank. "If this price (final, IF-K) is in the same range, which we have at the current moment in the form of optional offer, we will sell the bank. If it fell lower than the level which we have in the form of consolidated value, we will consolidate it" - he added. Meanwhile, Ablahat Kebirov, the director of Temirbank informed IF-Kazakhstan that at the current moment potential investors are examining the condition of the bank. "Investor wants to know what he purchases. It is natural that he needs to evaluate bank's quality round and round. At that, external consulters, a grate number of experts, lawyers, and auditors are borrowed. So, the work is in process and results will be by the end of summer" - he said. "We expect that by the end of summer there will be answer to the question - who will be investor if it will be" - A. Kebirov added. "There are not less than three investors. All of them present global financial institutes with business in practically all parts of the world. As far as our bank is big and deal sum is significant, investor, who wants to purchase majority holding, should have corresponding capital" - the head of Temirbank noticed. At that he underlined that "there is no such objective as to sell the bank unambiguously". "If there would be offer from investor and it would satisfy shareholders` expectations under current market conditions, this deal will be closed, if not, we have certain plans for further development" - the head of Temirbank said. A. Kebirov also noticed that this situation "woud influence bank's current operations, which continue to acquire service, make payments". According to A. Kebirov, thereupon, Temirbank`s clients won't have "any anxieties about bank's selling and changes, that might follow after". "If new investor comes, he will come with his own financial resources, technologies and experience on the international market. I think, it would do only good both for bank and clients" - he said. bank TuranAlem by results of 2007 took 5th place among CIS`s banks and 2nd place among Kazakhstan banks on assets volume in Interfax-1000 ranking, made by Interfax-CEA, Temirbank took 59th and 7 th places correspondently. [2008-06-20]