Georgia appeared on the list of target markets of Eurasian Bank. The Kazakh bank has a new Board of Directors, which is planning to shift accents to retail business and expand the sector up to 60% within 5 years.
Pavel Loginov, the new head of the Supervisory Board of the bank, notes that the bank should turn into a transaction hub at the Eurasian market. Apart from Kazakhstan, the Bank tends to start operating in Uzbekistan, Kyrgyzstan, Azerbaijan and Georgia.
According to local media, the bank links this decision to the new development strategy, however, Loginov did not specify the goals, related to the countries of the region.
The Eurasian Bank has been operating at the market since 1994. As of 1st of March, the equity of the bank amounts to 1.77 trillion of Tenge and their credit portfolio exceeds 734 millions. In addition, the bank has a representation in Russia.
The bank is owned by Eurasian Resources Group. The company is mining and processing natural resources. Alexander Mashkevich, Alijan Ibrahimov and Patokh Shodiev are the shareholders of the above group.
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