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. Last Updated: 07/27/2016

Kazakhs Seek Loan




ALMATY, Kazakhstan -- Kazakhstan's largest bank, the National Savings Bank, is aiming to raise a second syndicated loan during the second quarter of 1999 after borrowing $40 million in 1997, chairman Karim Masimov said Wednesday.


The bank, also known as Halyk Savings Bank and 80 percent owned by the state, had planned to issue $100 million in Eurobonds in 1998 but the financial crisis made conditions unfavorable and the plan was put on hold indefinitely.


Masimov said U.S. financial services group American Express was leading negotiations with several commercial banks.