Ablyazov’s many faces keep haunting Kazakh banks

Ablyazov’s many faces keep haunting Kazakh banksMukhtar Ablyazov, whose name pops up in numerous cases of asset stripping, fake loans and investments, forgery, cash embezzlement and related infringements all but around the globe stretching from Kazakhstan to Latvia, from Siberia to Ukraine (where a supposedly related murder case is under dragging investigation) and from Kyrgyzstan to the UK, has started to feel the heat increasing in his place of exile in a London suburb, with the warrant for the arrest issued by a British court of law of one of his closest associates. For Kazakh banks, though, the intensifying hunt for the country’s champion business hooligan is becoming a quest of despair, as the absence of a chance to recover at least some of the many billions “disappeared” during the years Ablyazov was a major co-owner and president of the one-time largest bank of Kazakhstan BTA

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Halyk Savings Bank of Kazakhstan fetches awards from Global Finance and Emeafinance

Halyk Savings Bank of Kazakhstan fetches awards from Global Finance and EmeafinanceHalyk Bank has been awarded two top-prizes at once, from renowned global financial editions. Magazine Emeafinance hails the bank The Best Bank in Kazakhstan for three years in a row, nominating it for Europe Banking Awards 2010, and Global Finance names Halyk Bank “The Best Bank in Kazakhstan” nominated for “World’s Best Emerging Market Banks”.

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Mukhtar Ablyazov’s united kingdom: a tale of four files/III

Mukhtar Ablyazov’s united kingdom: a tale of four files/IIIFour cases are currently pending at the High Court of London concerning the freezing of assets belonging to entities under control of former BTA Bank head Mukhtar Ablyazov and a number of associates who have seen their accounts frozen (but for some generous pocket money) and their passports taken. The first one, dubbed the Chrysopa case, leads to The Netherlands.

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Fitch upgrades ratings of Halyk Savings Bank of Kazakhstan, affirms those of Kazkommertsbank, ATFBank, Bank CenterCredit and Kaspi Bank

Fitch upgrades ratings of Halyk Savings Bank of Kazakhstan, affirms those of Kazkommertsbank, ATFBank, Bank CenterCredit and Kaspi BankFitch Ratings has upgraded the Long-Term Issuer Default Ratings (IDRs) of Halyk Bank of Kazakhstan to ‘BB-‘ from ‘B+’ and affirmed the IDRs of four other Kazakh banks, namely Kazkommertsbank (KKB), ATF Bank, Bank Centercredit (BCC) and Kaspi Bank. At the same time, Fitch has affirmed the ratings of the Russian subsidiaries of BCC and KKB. A full rating breakdown is provided at the end of this comment.

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Ablyazov: the Eurokommerz affair and an eventual Armenian connection/I

Ablyazov: the Eurokommerz affair and an eventual Armenian connection/IHas part of the money Mukhtar Ablyazov received for collateral manouevred out of control of Kazakhstan’s one-time banking leader BTA ended up in the clandestine “republic” of Nagorno Karabakh in the southwest of Azerbaijan? A US legal chase after cash stuck in troubled Eurokommerz, Russia’s largest factoring company, leads not only to Troika Dialogue, which never made it a secret that it operates in the breakaway republic and supports its economy, but also and especially to Ablyazov and his associates.

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Kazakh wealth fund, its chief are key to economic progress

Kazakh wealth fund, its chief are key to economic progressThere’s been a buzz in Kazakhstan recently over the sovereign wealth fund Samruk-Kazyna’s plan to issue shares in some of its companies on the Kazakhstan Stock Exchange.

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Halyk Savings Bank of Kazakhstan announced performance results for nine months of 2010

Halyk Savings Bank of Kazakhstan announced performance results for nine months of 2010Halyk Savings Bank of Kazakhstan (Almaty), securities of which are listed in Kazakhstan Stock Exchange (KASE), informed KASE that Halyk Savings Bank of Kazakhstan and its affiliates achieved by results of nine months of 2010 high indicators on the net income volume among financial groups of Kazakhstan having increased it by 180.4% up to KZT26 bn.

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