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Kazakhstan's state-run 'bad bank' to buy assets from KKB - cenbank
March 13, 2017 / 4:07 AM / 9 months ago

Kazakhstan's state-run 'bad bank' to buy assets from KKB - cenbank

ALMATY, March 13 (Reuters) - Kazakhstan’s biggest lender, Kazkommertsbank, may sell half of its assets to a state-run “bad bank”, the Problem Loans Fund, before being taken over by Halyk Bank, another local lender, the central bank said on Monday.

The central bank said in a statement that boosting KKB’s capital is a “basic condition” of the proposed takeover and that it would, together with Halyk, examine KKB’s asset quality before the deal. (Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; Editing by Stephen Coates)

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