Alliance Bank (Kazakhstan) informs on restructuring
18.05.09 14:37
/KASE, May 18, 09/ - Alliance Bank (Almaty), a company listed on Kazakhstan
Stock Exchange (KASE), provided KASE with a press release dated May 15,
2009:
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Today Alliance Bank informed the bank employed audit company KPMG, London,
to conduct financial check of credit portfolio and financial investments, and
bank's outbalance articles. Besides, KPMG will assess influence of possible
adjustments on bank financial standings.
The Coordination Creditor Committee within restructuring of borrowings included
the following international banks: ADB (Asian Development Bank), CALYON,
Commerzbank Aktiengesellschaft, DEG (Deutsche Investitions- und Entwicklungs
GmbH), JP Morgan, Sumitomo Mitsui Banking Corporation Europe Limited and
Wachovia Bank N.A.
The plan for restructuring and recapitalization of Alliance Bank must be agreed
with creditors and brought for approval to the Agency of the Republic of
Kazakhstan on Regulation and Supervision of Financial Market and Financial
Organizations before July 15, 2009.
May 29, 2009 the bank will hold a telephone conference with bank creditors to
inform on talks with the Coordiantion Committee and preliminary results of
financial check performed by KPMG, London.
In accordance with the Alliance Bank's press release dated April 13, 2009 on
suspension of service of borrowings of the bank for three months, Alliance Bank
confirms, as on May 11, 2009 the Bank failed to comply with its obligations on
principal international debt for a total of USD10 m.
For further information, please, contact:
Public Relations
Tel. +7 (727) 258 40 40
E-mail: pr@alb.kz
Website: www.alb.kz
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[2009-05-18]