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Weekly Lists
May 10, 2019 www.intellinews.com I Page 29
bne:Banker
Court battle over PrivatBank increases risks to Ukraine's overall financial stability, regulator says
Hungary’s Takarek group launches new commercial bank
The National Bank of Ukraine’s (NBU)'s monetary policy committee believes that recent court rulings against the nationalisation of the country's largest lender PrivatBank might undermine the regu- lator’s actions aimed at securing the stability, transparency and efficiency of the banking system, as well as increase the risks to overall financial stability.
The NBU also underscored that political uncertainty poses risks to maintaining its independent status. Due to these risks Ukraine faces possible loss of the support of its international partners, and its access to financial resources will be impeded, the central bank believes, according to a summary of the key policy rate discussion by the NBU monetary policy committee published on May 6.
Takarekbank, the new universal commercial bank of Hungary's inte- grated savings cooperatives, was launched with 139 branches in seven out of 19 counties and in the capital, it was announced on May 6.
Takarek group, which counts eleven regional savings cooperatives has total assets of close to HUF2.5 trillion (€7.7bn). With a market share of 6.5%, it is the fourth-biggest banking group in the country.
Shareholders approved a five-year strategy at the November AGM, paving the way for the merger of savings cooperatives, leading to the establishment of a universal bank.
By the end of October, eleven more savings cooperatives as well as Takarek Commercial Bank, formerly called FHB Bank, will merge with Takarebank, giving it more than 1mn clients.
Kazakhstan’s Asia Credit Bank, Capital Bank Kazakhstan and Tengri Bank discussed merger plans on May 2, the Kazakhstan Stock Exchange (KASE) said in a statement.
According to the plans of the three small banks, Tengri would
buy out Asia Credit and Capital. Over 41% of Tengri Bank’s shares are controlled by the Indian Bank of Punjab. Tengri Bank and Kapi- tal Bank have said that they agreed to merge back in March 2017. The Kazakh government had to bailout the ailing Kazakh banking sector in 2017 - one rescue that resulted involved a merger of the two largest banks, Halyk and KKB, under the banner of Halyk.
Three small Kazakh banks discuss merger plans