DUSHANBE, April 19, Asia-Plus — Joint-stock company (JSC) ATFBank, Kazakhstan’s fifth bank by assets, has bought out a control package in the Khujand-based open joint-stock company (OJSC) SohibkorBonk (Sughd province), increasing its ownership interest in the Tajik bank from 24.06 percent to 50.83 percent, Asia-plus has learned from the SohibkorBonk chairman Jamshed Qavmiddinov.
According to him, ATFBank will buy out another little less than 25 percent of shares in SohibkorBonk and thereby it will bring its ownership interest in the company to 75 percent.
“At present SohibkorBonk is making shift to other, more efficient form of management that will allow the bank developing more dynamically,” Qavmiddinov said, adding that after completion of all procedures SohibkorBonk will become a daughter company within ATFBank.
Qavmiddinov said that 2005 SohibkorBonk’s declared capital amounted 20 million somonis. “Of this amount, 14.3 million somonis or 71.8 percent of the declared capital have to date been paid in,” said the bank top manager, “As of March 1 2007, SohibkorBonk’s regulative capital has amounted to 16.8 million (equivalent to $4.8 million)”
Founded in 1995, ATF is a leading Kazakh bank, which has developed into a powerful financial group. It offers a broad spectrum of financial products, including services in leasing and insurance. ATF Bank opened an office in Moscow in the Russian Federation and has subsidiary banks in Kyrgyzstan and the Russian Federation.
SohibkorBonk was established in 1999 Headquartered in Khujand, SohibkorBonk has its branches in Dushanbe, Istaravshan, Konibodom, Isfara, Chkalovsk, Mastchoh, Qurghon Teppa, Panjakent, Tursunzoda and Rudaki.
