ArmInfo. Kazakh businessman Kenes Rakishev has increased his stake in an Armenian bank. This was reported by Forbes Kazakhstan.
According to a source, the businessman owns shares through BTA Bank JSC. In April 2026, 686,140 common shares of Armenia's Armeconombank were transferred to BTA Bank JSC, whose sole owner is Kenes Rakishev. Previously, they belonged to ZRL Beteiligungs AG, a company registered in Austria, and were transferred to BTA "in pursuance of court decisions and a share transfer agreement." This follows from BTA's audited financial statements for 2025, in the "Events after the reporting date" section. At the end of 2025, BTA already had 16,239 common shares of Armeconombank. The bank valued them at 652 million tenge, or about $1.25 million at the average exchange rate of the National Bank of Kazakhstan for 2025. Based on the book value of the bank's shares at the end of 2025 of 6.8 thousand Armenian drams, the new package could be worth about 6.2 billion tenge, or $12.5 million. In total, the Armenian bank holds 12.1 million common shares, thus, BTA holds about 5.8% of ordinary shares. Armeconombank is one of the systemically important banks in Armenia. The bank is controlled by the Sukiasyan family, which owns 51.45% of the capital.
According to its unaudited public statements as of the end of 2025, Armeconombank's equity capital amounted to approximately 88.9 billion Armenian drams, or approximately $233 million at the Central Bank of Armenia exchange rate. BTA likely received its first stake in Armeconombank in 2016, when the Armenian BTA Bank CJSC was merged with Armeconombank. In exchange for its stake in the acquired bank, Kazakhstan's BTA received a direct stake in Armeconombank (17.8%, of which it subsequently sold 16.8% to an Armenian investor). This conclusion can be drawn from BTA's 2016 financial report. At the same time, BTA Bank JSC is systematically reducing its asset portfolio. According to the consolidated report, in May 2025, the Russian structure of BTA Bank JSC Subsidiary Organization TuranAlem Finance LLC was sold for a symbolic 10,000 rubles. In June 2025, the company liquidated the Cypriot Zoomout View Investments Ltd and the Kazakh Kazoil-Astana Group Limited. In March 2026, BTA sold the rights of claim to two companies in liquidation/bankruptcy proceedings: to AMT Bank LLC in the amount of 855 million rubles (at a concession price of 200 thousand rubles) and to Marine Gardens LLC in the amount of 234 million rubles (at a concession price of 100 thousand rubles). In October, BTA Management JSC was created through a spin-off, with the rights to claim loans and shareholder debt transferred to the new legal entity.
In addition to BTA Bank JSC, the businessman owns the Fincraft Group holding company, through which he controls the British Equus Petroleum and Fincraft Resources JSC, which includes the Ert?s Ferronickel Plant LLP. Rakishev's assets include stakes in Beineu Petroleum and Tethys Petroleum. In 2026, Fincraft Energy Holding Limited, which is controlled by Rakishev, increased its stake in Beineu Petroleum, spending approximately 27.8 billion tenge on the acquisition of shares, according to the same audited financial statements for 2025. In August, it was announced that the group had agreed to acquire 100 million tonnes of oil and gas from the British Nostrum Oil & Gas Company. Gas LLP "Zhaikmunai" - the operator of the Chinarevskoye field - and 80% of LLP "Positive Invest". Kenges Rakishev has been a participant in the Forbes Kazakhstan ratings since 2013, ranks 26th on the list of influential businessmen and 27th on the list of the richest.
