Kazkommertsbank buys Belarusian BTA Bank

As per the deal, BTA Bank will tranfsfer its shares to the KKB towards debt repayment on a credit line opening, the Ministry’s press service says.

If the value of the assets or the size of a financial organization’s internal capital exceeds the amount prescribed by an anti-monopoly structure jointly with the National Bank, a consent on economic concentration is required. The value of assets or the size of the financial organization’s internal capital is set at 2%.

At the time when the KKB submitted its request on economic concentration, the cost of its assets and the size of its internal capital exceeded the threshold indicator.

Taking into account that the object of the deal (CJSC BTA Bank) is located outside the territory of Kazakhstan and does not limit competition on the Kazakh financial market, the Committee decided to approve on the request.

Noteworthy to say, that the economic concentration must be performed within a year, after the anti-monopoly structure takes a positive decision regarding the deal.