Currently I am not yet sure what to make of it. I am waiting for next weeks earnings call to get managements perspective.
Right now I am not sure how much profit HSBK need to make as it is not yet clear how much they might need to pay back. Kazkommertsbank bought BTA for $1 billion after BTA had received a $2 billion cash injection from the Kazakh sovereign wealth fund. I guess they might need to pay back the difference but we'll see.
What do you make of regulator blocking the dividend?
https://www.reuters.com/article/kazakhstan-banks-dividend-idUKL1N36T0DQ
This could be politically motivated, given who the majority shareholders are.
How much profit would HSBK need to make to start paying dividends if the regulator is succesful in their attempt?
Just in case you're still interested, the dividend will be paid in full.
They'll just have to make additional payments to the government with each dividend payment until they have paid back the full state support.
They explain it in more detail on the earnings call and investor presentation.
Currently I am not yet sure what to make of it. I am waiting for next weeks earnings call to get managements perspective.
Right now I am not sure how much profit HSBK need to make as it is not yet clear how much they might need to pay back. Kazkommertsbank bought BTA for $1 billion after BTA had received a $2 billion cash injection from the Kazakh sovereign wealth fund. I guess they might need to pay back the difference but we'll see.
https://www.reuters.com/article/us-halyk-bank-kazkommertsbank-m-a-exclus-idUSKBN13A1LP