Almaty Mayor’s son-in-law may buy ATF Bank

A son-in-law of Almaty Akim (Mayor) Galymzhan Yessenov is one of the potential buyers of ATF Bank that is going to be sold by UniCredit group, Kursiv writes citing its source. The provisional cost of the deal is not known yet.

Earlier Reuters, citing its sources, named Bulat Utemuratov of Kazakhstan one of the potential buyers of ATF Bank. He was the one who sold the bank to UniCredit for $2.117 billion in 2007.

Financial experts believe the UniCredit will sell this asset in the nearest years but at a much lower price than its market cost. This opinion has been voiced by a chief expert of the analytics department of BTA Securities Nadira Tabyldiyeva.

ATF Bank is one of the major Kazakhstan banks. It has 17 branches in different cities of the country. In 2011 the bank’s charter capital made 152.9 billion tenge ($1.02 billion).