Why Kazakh Investors Are Buying Ukrainian Banks

Why Kazakh Investors Are Buying Ukrainian Banks

National Bank of Ukraine in November 18, 2016 allowed the former chairman of Supervisory Board of “BTA Bank”, a citizen of Kazakhstan Arif Babayev buy of 84.7749% stakes in Kharkiv “Region-bank”.

Arif Babayev, is a citizen of Kazakhstan, has many years of experience in the banking sector, the bulk of which he was working at ABN AMRO and Royal Bank of Scoltand.

From August 2015 to June 2016 he was the chairman of supervisory board Ukrainian “BTA Bank”. Late in December 2016, Mr.Babayev became the owner of 53.5378% of shares of the bank, while Mr. Anatoly Volok reduced the share from 71.98% to 37.5663%.

During the first 9 months of 2016, “Rigion – Bank” has reduced the profit by 19% to 1.5 million UAH.

According to NBU, October 1, in terms of assets the bank took 81 place (320.3 million UAH) among 100 operating banks.

Special opinion:

Why foreign investors are beginning to come in to Ukraine and are buying banks?

Because Ukraine on results of 2016 show GDP growth of 1-1.5%, because in Ukraine adopted a number of laws to combat corruption, because in Ukraine will be accepted laws, that will facilitate to entrepreneurs to start and grow their business.

Written by
Alexander Bondarenko,Ph.D.