Reuters exclusively reported that Kazakh authorities are urgently looking for a bank to take over no. 2 lender Tsesnabank as they believe it needs new financing to prevent a collapse. Officials from the government and central bank have approached at least three other Kazakh banks and hope to tie up a deal in February. They are offering financial incentives for any bank prepared to take it over in an effort to avoid liquidating the bank, which has over $1 billion in retail deposits and received a $1.8 billion state bailout in September, because of the impact on the wider economy.
Kazakhstan urgently looking for bank to take over Tsesnabank
25 January 2019, 12:00 am 1 minute
Topics of Interest: Politics
Type: Reuters Best
Regions: Europe / Middle East / Africa