Eurasian Bank acquires Troika Dialog Kazakh bank

By Marcus Williams

Kazakhstan's Eurasian Bank has bought a Troika Dialog subsidiary bank in Almaty for an undisclosed amount in a bid to expand its business abroad.

Eurasian is controlled by the principal owners of London-listed Kazakh mining company Eurasian Natural Resources Corp.

Troika, which sold a third stake to South Africa's Standard Bank in March, bought the subsidiary bank from VTB in 2007 as a platform for providing banking services in order to diversify its business model.

A report in Vedomosti last week suggested Troika will pay 3o% less in bonuses for 2009 though it expects earnings to rise.

By Marcus Williams Kazakhstan's Eurasian Bank has bought a Troika Dialog subsidiary bank in Almaty for an undisclosed amount in a bid to expand its business abroad. Eurasian is controlled by the principal owners of London-listed Kazakh mining company Eurasian Natural Resources Corp. Troika, which sold a third stake to South Africa's Standard Bank in March, bought ...