Baiterek Holding completes Sberbank Kazakhstan acquisition

Baiterek National Managing Holding has closed the acquisition of the entire block of shares of Sberbank's subsidiary in Kazakhstan.

The deal was closed on mutually beneficial financial terms and received all necessary regulatory approvals.

Sberbank Kazakhstan will continue to fulfill all obligations to its clients; all loan conditions will remain unchanged for existing customers.

Baiterek Holding believes Sberbank Kazakhstan to be highly important for the country's financial system. Its up-to-date infrastructure and technologies will allow the bank to continue financing the real sector of the country's economy.

Sberbank Kazakhstan will soon resume its operations, continue attracting deposits, make payments, and develop banking products and services for individuals and legal entities. In the near future, Sberbank Kazakhstan will be rebranded.

Baiterek Holding will ensure that the bank's work is uninterrupted. The Holding will also try to develop and improve banking services for both existing and new customers.