BTA chairman Mukhtar Ablyazov was removed, and Arman Dunayev, the deputy chairman of Samruk-Kazyna, was appointed to the board of BTA.
Central bank governor Anwar Saidenov replaced Roman Solodchenko as chief executive.
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NewsMarch 10 2009
Lead news: Kazakhstan shakes up banking sector
The Kazakh government has taken the country’s largest bank by assets, BTA, into state ownership, via sovereign wealth fund Samruk-Kazyna. The fund purchased $2.07bn in BTA equity, giving it a 78% stake.
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