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In the article
On August 23 2017 chairman of the board of the People’s bank of Kazakhstan Umut Shayakhmetova conducted a press conference on the subject of consolidation of financial results of the banking group headed by her and among other things openly talked about real financial state of Kazkom recently.
Russian financial analysts are forecasting devaluation of Kazakh national currency down to 420-45- tenge for a dollar already this fall. However, chairman of the National bank of RK Daniyar Akishev notes that there are no reasons for lowering of the rate.
As of today, concentration of banking capital in Kazakhstan is beating all records – after acquiring of Kazkommercabank by People’s bank, Timur and Dinara Kulibaev’s group will control two fifths of the banking system, on such parameters as assets, passives and depositary portfolio. How does that threaten the financial system of the country?
The deal of the decade is completed. Halyk Bank has bought Kazkommertsbank having paid one tenge to Kenes Rakishev and the Samruk-Kazyna National Welfare Fund for their shares. Now it is time to make some preliminary conclusions and ask some uneasy questions.
According to multiple statements of the national bank of RK and explanations of its administration, including D. Akishev, abnormal activities of the regulator in the case relating to excess tenge mass, is caused exclusively by good intentions – such as lowering the rate of inflation and de-dollarization.
