The Kazakh National Wellbeing Fund Samruk-Kazyna may sell its stake in Halyk Bank this year, and is in talks with the country’s second-largest lender by assets, Chief Executive Officer Kairat Kelimbetov said.
Samruk-Kazyna owns 26.8 percent of Halyk’s common and preferred shares, according to the Kazakhstan Stock Exchange. A government decision is needed for the fund to sell the stake, Kelimbetov said.
The fund may sell its stakes in Kazkommertsbank, Alliance Bank and Temirbank earlier than planned if they find a “reliable investor” and a suitable “formula for the return on our investments,” Kelimbetov said.
In March, Kelimbetov said Samruk-Kazyna planned to sell its bank stakes in the next three to five years.