Ukrainian Entrepreneurs Move to Buy BTA Bank from Kazakh Businessman Kenes Rakishev

Vyacheslav Mishalov and Dmytro Shevchuk have submitted documents to the National Bank of Ukraine (NBU) to purchase BTA Bank, currently owned by Kazakh entrepreneur Kenes Rakishev, reports Orda.kz, citing Forbes.

The two businessmen from Dnipro are seeking to acquire full ownership of the Ukrainian BTA Bank, with Mishalov aiming for a 70% stake and Shevchuk for 30%. The Antimonopoly Committee of Ukraine has already approved the transaction, and it is now under review by the NBU.

The application packages were submitted to the NBU on June 26, 2025. Under Ukrainian law, the bank being acquired is not required to file a separate application.

The National Bank is reviewing the submitted documentation... A decision has not yet been made, the regulator stated.

Mishalov is co-owner of the internet provider Fregat and the investment fund Fortres. Shevchuk is involved in finance through MPSS Finance and holds an 11% stake — along with Mishalov — in the company Ye Hroshi.

We have a preliminary agreement that allowed us to submit an application to the Antimonopoly Committee, said Alibek Mukhamed-Rakhimov, chair of BTA Ukraine’s supervisory board.

As of June 1, 2025, BTA Bank Ukraine is a small institution with a single office in Kyiv. According to NBU data, the bank has ₴355.2 million in assets, ₴197.3 million in capital, and a net loss of ₴14.3 million.

This is not the first attempt to sell the bank. In 2020, the NBU denied a bid from Belarusian businessman Mikalai Vorobei. In 2021, Kaspi.kz also announced plans to acquire the bank, but the deal did not go through.

Previously, Orda.kz reported that Kenes Rakishev sold BTA Bank assets in Kyrgyzstan and Belarus. In 2024, the Belarusian bank was purchased by Sultan Marenov through his company, SNRG Capital Eurasia.

Original Author: Ruslan Loginov