Stockholders of Kazkommertsbank and Halyk Bank to take up government share in 3-4 years
ASTANA. October 12. KAZINFORM /Aigul Tulekbayeva/ Stockholders of Kazkommertsbank and Halyk Bank will take up the government share in three-four years, Chief of SamrukKazyna National Welfare Fund Kairat Kelimbetov considers. Answering the journalistss question Kelimbetov reminded of allocation of KZT 120 bln to each of the abovementioned banks. "The banks used theses funds for stock payment, refinancing certain investment projects", he said. "Our objective is to support the banks in this uneasy period. In accordance with the agreements with Kazkom and Halyk Bank, the stockholders of these banks will buy out the government share in 3-5 years, as soon as it is possible. To my mind in 3-4 years Kazakhstan economy will start recovering. The documents oblige us to withdraw from the banks' capital"