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"We have been observing this market for a long time and we believe that now is a good time to make this step"
Herbert Stepic, Raiffeisen International |
"Due to its economic potential and politically stable environment, Kazakhstan is an attractive market," says Herbert Stepic, Raiffeisen International’s chief executive. "We have been observing this market for a long time and we believe that now is a good time to make this step."
Raiffeisen had previously hoped to crack the Kazakh banking market through BTA (formerly Bank TuranAlem) in which it built a 7.7% minority stake in 2001. But it failed to come to an agreement over an acceptable...
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