There have been personnel changes on the board of FinanceCreditBank following a change in ownership

Changes to the management structure at FinanceCreditBank are continuing following the completion of the recapitalization and the arrival of a new major shareholder. The bank announced the appointment of a new member of the management board.

According to the disclosure, Taalaibek Alybaev was appointed to the management board by a decision of the board of directors on June 30. These changes are related to the expansion of the executive body. However, the published materials do not contain any information regarding the termination of the powers of any of the current members of the Management Board.

The personnel changes took place in the days following the completion of the bank’s recapitalization and the change in its ownership structure.

As previously reported by “Akchabar”, on June 29, “FinanceCreditBank” issued 120 million additional shares with a par value of 1 KGS each, increasing its authorized capital to 1 billion 24.8 million KGS. At the same time, a new major investor joined the ranks of shareholders. Erkin Tashtemir uulu became the owner of 11.709% of the bank’s common registered shares.