The nephew of Nazarbayev, became a shareholder of the Bank holding company of Kaspi

Moscow. November 10. The nephew of the President of Kazakhstan Kairat Satybaldyuly became the owner of a minority stake to a Bank holding company of Kaspi Bank, established on the basis of Kazakhstan’s Kaspi Bank included in top-10 largest banks of the Republic.

In addition Satybaldyuly, shareholders and investors are holding founder of Kaspi Bank Vyacheslav Kim and his business partner, the Bank’s CEO Mikhail Lomtadze and funds managed by Baring Vostok Capital Partners. The holding controls about 90% of the shares of the underlying asset – Kaspi Bank.

“We created the new holding company of Kaspi. Within the holding we have two new shareholders. Kairat Satybaldyuly, which is my old friend and partner. Mikhail Lomtadze, Chairman of Kaspi Bank, with whom we are already 10 years we built our business. Today, Kaspi Bank is the main asset of the holding company, and we together with partners are planning investments in new projects,” said Kim.

Satybaldyuly and Lomtadze own (each) less than 10% of the shares of the holding company. In the near future, both shareholders are planning to increase their stakes to more than 10%.

“At the moment we are investors in companies such as (Internet resource on sale of cars), “Alseko” (developer in the housing sector) and Kaspi Bank. Our plans include further investment in the development of innovative and technological companies”, – presented in a press release, the words Lomtadze.

According to the national Bank, Kaspi Bank for January-September 2015 was ranked the 6th place among 35 Kazakh banks by assets.

Kaspi Bank is not the only Bank asset, co-owners are relatives of the President of Kazakhstan. His daughter, Dinara Kulibayeva, together with her husband Timur Kulibayev controls the group of Halyk Bank, the second largest Bank of Kazakhstan.