Valyut-Transit-Bank JSC (Kazakhstan) to change the title for Aspan Bank

/INTERFAX-KAZAKHSTAN, Almaty, December 8, 06, the title made by IRBIS / - Kazakhstan commercial Valyut-Transit-Bank (VTB) will change the title for Aspan Bank. Such a decision was taken at the prescheduled meeting of the bank's shareholders, which took place December 7, the chairman of Council of directors of VTB Steve Johnson informed at the press conference on Friday in Almaty. Besides, changes approved by shareholders in the Charta of the bank are about the relocation of juridical address of the bank: the front office will be replaced from Karaganda (the administrative center of the republic) to Almaty. "Changes in the Charta must be approved by the agency for financial supervision, and as soon as it happens the bank will change its juridical address to Almaty and with get the new name," S. Johnson said. According to his data, shareholders approved the suggestion of the chairman about getting the stabilizing loan from the government, and accepted the agreement about mutual understanding and re-structuralizing of the debt with the financial institutes, which are creditors of the bank. As it was informed, the leadership of bank carries negotiations with the agency for financial supervision (AFS) about getting such a loan. AFS considers that the adequate increase of VTB capital must forego the agreement. S, Johnson informed that the process of illegally taken out assets of the bank for the total of $400 m., the major part out of which will be sold out then in order to pay off debts of the bank in front of investors and big creditors. Besides, by his data, negotiations on selling of the accumulative pension fund (APF) to "one of the leading Kazakhstan financial institutes" are in the process. "Next week the results about this selling and the name of a new owner will be announced," he said. Together with that, according to his words, it was decided to dismiss 1114 employers in order to recover the crisis situation turned to be in the bank. Valyut-Transit-Bank is the middle-size bank of Kazakhstan. [2006-12-08]