Kazakh Defense Minister’s Bank to Borrow $199 Million for Growth
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Tsesnabank, the Kazakh lender controlled by Defense Minister Adilbek Zhaksybekov, may sell as much as 30 billion tenge ($199 million) of debt this year, including subordinated bonds, to fund expansion.
The Astana-based bank wants to boost assets to as much as 750 billion tenge in 2013, Chief Executive Officer Dauren Zhaksybek told reporters in Almaty today. Tsesnabank has exceed its 695 billion-tenge target for this year’s asset growth, compared with 618 billion tenge in 2012, he said.