Kenes Rakishev has sold the Belarusian BTA Bank for 230 million tenge, reports a correspondent from the business information center Kapital.kz, citing the financial statements of Fincraft Group published on the KASE website. The deal was finalized back in June 2024, when the group divested its 99.93% stake in favor of SNRG Capital Eurasia.
"In 2024, BTA entered into a purchase agreement with SNRG Capital Eurasia LLP for the shares of BTA Belarus JSC, which constitute 99.9% of the authorized capital. The value of the transaction amounted to 230 million tenge," the group's report for 2023 states.
SNRG Capital Eurasia LLP is owned by Kazakh entrepreneur Sultan Marenov and is part of his SNRG Capital Pte Ltd (Singapore) group, which manages a portfolio of direct investments and operates in digital banking, financial and information technologies, business consulting, and project management. The group of companies led by Sultan Marenov operates in Southeast Asian markets, including Singapore, Indonesia, Myanmar, Vietnam, the Philippines, as well as in other countries of the Eurasian region.
"Sultan Marenov is well-acquainted with the Belarusian market, having served as the chairman of the board of BTA Bank from 2005 to 2015," the statement noted.
Since 2015, Sultan Marenov has owned a stake and held the position of CEO at Hayman Capital Pte Ltd, an investment and financial group headquartered in Singapore with over 650 employees across the Southeast Asia region, and has also been the chairman of the board at Hayman Microfinance (Myanmar), Hayman Finance Indonesia (Indonesia), and Microtech DFS Vietnam (Vietnam).
In addition to his commercial projects, Sultan Marenov is a co-founder and chairman of the Kazakhstan-Singapore Business Council. Since January 2024, he has been leading the board of directors at BTA Bank JSC.
"I express my deepest appreciation and gratitude to the previous owners of the bank – BTA Bank JSC, the financial group Fincraft Group LLP, and personally to Kenes Rakishev, without whom the bank would not have achieved its current results," Sultan Marenov stated.
In a statement from BTA Bank JSC (Belarus), it was noted that over the past five years, the bank's assets and loan portfolio have continued to grow at a moderate pace. The bank primarily serves small and medium-sized enterprises, as well as individuals.
"The bank will actively develop existing areas and, under a new strategy, will support enterprises and entrepreneurs targeting the markets of South and Southeast Asia with relevant financial solutions. To achieve these goals, BTA Bank will change its name this year to align completely with the new strategy," the statement highlighted.