National Bank of Kazakhstan comments on BTA Bank and Alliance Bank
04.02.09 17:16
/KASE, February 4, 09/ - The National Bank of the Republic of Kazakhstan
spread a press release of the following content:
Quotation beginning
The Government of the Republic of Kazakhstan on February 2, 2009 decided to
buy shares of two of the four largest national banks - BTA Bank and Alliance
Bank.
The decision on purchase of shares of BTA Bank (78.14 % shares) was made for
purposes of protection of interests of depositors. Fund of national wellbeing
Samruk-Kazyna will provide additional capitalization in the amount of KZT251.3
bn.
According to the National Bank, the state becoming a shareholder of BTA Bank
will give more confidence to all of its clients, legal entities and individuals.
This measure is not nationalization and intended at continuous operation of
a fundamental bank.
The decision on purchasing of shares of Alliance Bank (76 % shares) was made
after the address with corresponding offers of the major shareholder - Financial
Corporation Seymar Alliance, and is intended at capitalization of the bank and
enhancement of its financial stability.
At that, for purposes of provision of sufficient liquidity Fund of national
wellbeing Samruk-Kazyna and Alliance Bank signed and agreement on KZT24 bn.
(USD200 m.) banking deposit for support of financial sustainability and further
capitalization of the bank. The funds are collateral of current payments.
Alliance Bank will be additionally capitalized after approval of the scheme
of the state entering the capital.
The National Bank, in its turn, will allow, if needed, short-term loans to BTA
Bank and Alliance Bank in sufficient volumes to maintain liquidity.
The National Bank is supporting the Government of the Republic of Kazakhstan
and the Agency of the Republic of Kazakhstan on Regulation and Supervision of
Financial Market and Financial Organizations and deems this measure to allow
for increasing sustainability of the banking system, trust of depositors and
creditors and also timely compliance with obligations of banks.
The National Bank considers participation of the state in bank capital to be an
urgent and temporary measure.
Quotation beginning
[2009-02-04]