Kazakhstan’s Halyk Bank Says KKB Takeover May Take Longer Than Expected

Kazakhstan: Banking System Undermined by Expensive Credit

ALMATY, May 16 (Reuters) – The planned takeover of Kazakhstan’s Kazkommertsbank by rival Halyk Bank may take longer than previously expected, Halyk Bank chief executive Umut Shayakhmetova said on Tuesday.

“We had expected to have a clear understanding (of the deal’s details) by the end of May, but the deal is very complicated… and some issues arise,” she told a briefing. (Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; Editing by Miral Fahmy)