/KASE, April 22, 10/ - On April 21, 2010 the Agency of the Republic of
Kazakhstan on regulation and supervision of financial market and financial
organizations (FSA) released a statement at
http://www.afn.kz:
Quotation begins
On April 19, 2010 the Agency of the Republic of Kazakhstan on regulation and
supervision of financial market and financial organizations (FSA) approved
resolution No. 54 "On Alliance Bank JSC" (the Resolution).
The Resolution was introduced as Alliance Bank (the Bank) took measures
specified in the restructuring plan described in the Information memorandum
approved by the Bank management board as No. 19 on November 4, 2009 and
agreed with Creditors' meeting on December 15, 2009 (the Restructuring plan).
After the measures were taken, the bank showed a recovery, including an
increase in own capital to the level required by the Agency. Thus, according to
the statements presented to FSA, own capital as on April 1, 2010 reached
KZT47,037,246 th (in the period June 2009 through April 2010 own capital was
a negative value).
Bank's financial standings improved as creditors wrote off a part of the debt, and
a part of the liabilities was converted into preferred shares of the bank, and
National welfare fund Samruk-Kazyna had pumped funds in the struggling bank.
FSA said the Creditors Committee confirmed the Restructuring plan was
complied with.
On the basis of the mentioned above, FSA on April 19, 2010 sent a statement to
the Almaty special financial court saying on the end of the restructuring.
Ends
[2010-04-22]