Freedom Finance informs about sale of its 6.02% shareholding in the Bank of Astana to the structures associated with Timur Turlov, founder and key holder of the biggest broker company of Kazakhstan," reads the statement.
"The team of Bank of Astana jointly with the shareholders are taking actions to overcome the crisis of liquidity and stability of work. (...) In this situation I assume personal responsibility before the clients of Freedom Finance to perform our liabilities associated with the securities of Bank of Astana. For this I initiated the process of buy out the shareholding of Bank of Astana belonging to Freedom Finance and associated structures. This way I can take and control all the actions connected with protection of interests of the bank's shareholders attracted by our company," said T. Turlov, chairman of board Freedom Finance.
He is going to offer the bank "to create a special coordination council for protection of minorities’ interests".
"In the conditions of temporary reduction of liquidity the bank is focused on strengthening of its financial position: through financing of its loan portfolio, sale of a number of assets, including mortgage portfolio, it is also negotiating on regulatory liquidity provision," reads the message.
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