Notoriously Known Kenes Rakishev Sells BTA Bank in Ukraine to NovaPay

Kazakhstani businessman Kenes Rakishev has agreed to sell BTA Bank Ukraine to the Nova group, associated with the founders of Nova Poshta, Vyacheslav Klimov and Volodymyr Poperešnjuk. The buyer is NovaPay Invest, and the completion of the deal depends on the approval of Ukrainian regulators. The sale price is not being disclosed by the parties.

Kenes Rakishev is the owner of a banking asset that is planned to be transferred to the Nova group. The deal is to change the owner of BTA Bank Ukraine, but until the necessary regulatory approvals are obtained, it is premature to speak of the final closing of the sale. Information about the agreement was published by the Kazakhstani outlet Exclusive.kz, with media citing it. The potential buyer is identified as NovaPay Invest — a company associated with the Nova group, which owns the Nova Poshta business. The founders of the postal‑logistics company are Vyacheslav Klimov and Volodymyr Poperešnjuk. Thus, the agreement envisions the transfer of the banking asset to a structure connected with one of the country's largest private logistics businesses. The amount of the deal between Kenes Rakishev and NovaPay Invest has not been disclosed. The message about the agreement also does not provide details about the financial terms of the sale, settlement procedures, or the plans of the new owner after the closing. These issues may be clarified in subsequent disclosures by the parties or after regulatory procedures are completed. To complete the transfer of BTA Bank Ukraine to the new owner, the approvals of Ukrainian regulators are required. Until they are obtained, the agreement does not mean that the buyer has already gained control over the bank. The regulatory procedure must precede the final closing of the deal, and the disclosed information does not specify its timelines. As of 1 September, the assets of BTA Bank Ukraine were worth about 306,9 million hryvnias. By this metric, the bank occupied the 59-th, the last place among 59 banks operating in the Ukrainian market according to the provided data. Such asset volume indicates a small scale of the institution relative to the largest Ukrainian banks, but it does not in itself determine the future strategy of the potential owner. For Nova, acquiring the bank could be tied to developing financial services around the group’s ecosystem. The buyer is precisely NovaPay Invest, not directly Nova Poshta. At the same time, without officially disclosed explanations from the parties, it cannot be asserted which products, lines of business, or organizational changes they plan after closing the deal. Kenes Rakishev has previously tried to sell BTA Bank Ukraine to other buyers, but earlier agreements were not realized. The current deal with NovaPay Invest is another attempt to change the asset’s owner. The reasons for the failure of previous agreements and details of negotiations with prior potential buyers are not provided in the disclosed information. The sale of the bank aligns with BTA’s stated strategy to exit the banking business. The agreement with the Nova group could become a step in implementing this plan if the parties obtain all necessary approvals and complete the legal procedures. Until that moment, Kenes Rakishev remains a party to the sale agreement, and NovaPay Invest is a potential buyer. Attention to Kenes Rakishev has been drawn by his long-standing personal ties with Chechnya’s head Ramzan Kadyrov. In 2015 year, Kadyrov publicly called the Kazakh businessman “a dear brother” and stated that they have been friends and brothers for many years. According to him, their relations do not depend on positions or wealth. Ramzan Kadyrov also spoke about charitable assistance from Kenes Rakishev to Chechens. In addition, he noted that the businessman received the Kadyrov Order for contributions to strengthening the friendship between Kazakhstan and Chechnya. These public statements indicate that Kadyrov has previously openly emphasized the closeness of his relations with Rakishev. At the same time, the mere fact of personal contacts between Kenes Rakishev and Ramzan Kadyrov does not establish a link between these relations and the agreement to sell the Ukrainian bank. The disclosed information does not contain data about Kadyrov’s participation in negotiations with NovaPay Invest or his involvement in the terms of the deal. The further development of the situation will depend on the decisions of Ukrainian regulators and the parties’ fulfillment of the requirements to complete the sale. If the approvals are obtained, BTA Bank Ukraine will be able to come under the control of the NovaPay Invest structure. Until the official closing of the deal, its value, final terms, and plans for the bank’s future activities remain undisclosed.