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2 Kazakh lenders discontinue ops after merger with ForteBank

JSC ForteBank said Dec. 7 that it completed its voluntary reorganization process after ABC Bank and JSC Temirbank discontinued operations following their merger with the lender.

The Kazakh central bank formally annulled the lenders' shares as of Nov. 29, while the country's justice ministry registered the discontinuation of their operations as of Dec. 5.

Temirbank and ABC Bank merged with JSC Alliance Bank at the beginning of 2015, with the merged lender operating as ForteBank. The central bank canceled the licenses of ABC Bank and Temirbank in August 2015.