ALMATY Feb 18 Kazakhstan's seventh-largest
lender ATF Bank, sold by Italy's UniCredit
to a local investor last year, turned to profit in 2013 after
five years of losses, it said on Tuesday.
ATF Bank made a net profit of 1.782 billion tenge ($9.7
million) in 2013 after a loss of 8.646 billion in 2012, the bank
said in a statement.
Last year, UniCredit sold ATF Bank to a firm owned by Kazakh
businessman Galimzhan Yesenov and said it would review its
business targets through to 2015 in light of the "exceptionally
difficult" economic environment.
The acquisition of the Kazakh bank was worth around $500
million, sources close to the deal told Reuters at the time.
($1 = 184.51 tenge)
(Reporting by Mariya Gordeyeva; writing by Dmitry Solovyov;
editing by Tom Pfeiffer)