Alliance Bank (Kazakhstan) restructuring results

02.06.09 14:54
/KASE, June 2, 09/ - Alliance Bank (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), provided to KASE the following press release: quotation start Today Alliance Bank reported the restructuring interim results. Thus, on May 29 in London the bank CEO met with Creditors' Coordination Committee, which includes, Asian Development Bank, CALYON, Commerzbank Aktiengesellschaft, DEG (Deutsche Investitions und Entwicklungsgesellschaft GmbH), J.P. Morgan, Sumitomo Mitsui Banking Corporation Europe Limited and Wachovia Bank N.A. During the meeting Alliance Bank informed creditors on the debt restructuring progress achieved and last events, occurred after the last meeting on April 17. The parties discussed financial indicators; in particular, preliminary results of implemented by KPMG financial inspection of the bank credit portfolio. In addition, creditors were proposed several preliminary bank debt restructuring options. After the meeting Alliance Bank CEO held a conference call with investors. During the next presentation planned approximately for June 16, Alliance Bank intends to present to investors the updated strategic plan in the light of the restructuring considering financial inspection results. Additional meetings with the bank internal bonds holders are planned in the first half of June. For additional information, please contact: PR Service Tel. +7 (727) 258 40 40 E-mail: website: quotation end [2009-06-02]