Privatization of the House Constraction Savings Bank of Kazakhstan is scheduled for the end of this year. This was told today at the meeting of the government by the deputy chairman of the board of the National Holding "Baiterek" Galymzhan Tadzhiyakov.
"The following steps were taken to privatize the House Construction Savings Bank: in May 2017, an agreement was reached with the Financial Advisors to find investors and support consensus. With help of advisors the investment proposals were sent to 420 potential investors and 249 of them were interested. As a result, at the end of 2017, a pool of 14 potential investors were identified. 7 of these potential investors are representatives of an international financial institution",- noted Tadjiyakov.
According to him, investors began to conduct a comprehensive examination to the bank. "We are planning to complete this process by June 2018. On August and September we intend to receive a real offer from the investors who were interested", - he mentioned.
House Construction Savings Bank was established in 2003. The Bank offers low interest rates mortgage lending and a program of housing savings. The sole shareholder of the bank is National managing holding "Baiterek". About privatization of bank was mentioned two years ago.
The privatization of this bank might be appropriate. However, we do not know what kind of investor will come to and what would be their quality of service. After privatisation of bank we hope that people will not lose their finance which collected to purchase property.