Kazakhstan’s banks exchange their subsidiaries

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ASTANA. KAZINFORM - Hereby "BTA Bank" JSC (hereinafter - Bank) informs about alienation of shares of the Bank subsidiary companies to "Kazkommertsbank" JSC on the basis of the signed Contract on Simultaneous Transfer of Assets and Obligations dd. 15 June 2015, BTA Bank said July 3.

Kazkommertsbank was transferred to Limited Liability Partnership «Titan-Inkassatsiya», dealing with cash delivery vehicle and conveyance of bank notes, coins, values and Limited Liability Partnership "Subsidiary of "BTA Bank" JSC "AlemCard", dealing with collection and centralized processing of transactions applying of payment card. BTA Bank had 100 percent shares in both companies, according to Trend.az. Also Bank notifies about acquisition of participation interest of Limited Liability Partnership "KAZKOM Realty", dealing with purchase and sale of other real estate, within mentioned Contract on Simultaneous Transfer of Assets and Obligations signed on June 15, 2015. Kazkommertsbank and BTA Bank signed an agreement on the simultaneous transfer of assets and obligations on June 15. BTA Bank's some assets and liabilities were transferred to Kazkommertsbank. Kazkommertsbank's other distressed assets were transferred to the BTA.

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