BTA Bank (Kazakhstan) may restructure external obligations

/IRBIS, March 18, 09/ - National Welfare Fund Samru-Kazyna JSC (Kazakhstan) released information message at its official website (www.samruk-kazyna.kz): Quotation start Since Fund Samruk-Kazyna on February 2, 2009 acquired 75 % of the voting shares of BTA Bank, situation has stabilized. All payments are made in time; flow-out of individual deposits is changed for flow-in at the beginning of March. The bank is an active participant of state programs. As a result, it was granted KZT40 bn. for mortgage refinancing, KZT22 bn. for small and medium business support, KZT5 bn. of which has already been used today. The bank is the key financial institution for realization of equalization measures and real sector support. Resources of the bank allow performing all obligations before their depositors and clients. BTA Bank responsibly relates to its external obligations. This year it is implemented all planned payments on main debt and interest maturity, notwithstanding provocative claims of certain persons. BTA Bank, together with the principal shareholder Fund Samruk-Kazyna, as well as independent advisors, financial and legal advisers Goldman Sachs and White & Case, is elaborating a new strategy for the development of BTA team, and within it, the possibility of modifying the structure of external obligations, which will ensure stable functioning of the bank in long-term prospect. Quotation end [2009-03-18]