Kazakhs to Protect BTA Bank From Default, Wealth Fund Says

Kazakhstan’s sovereign wealth fund Samruk-Kazyna will inject cash into BTA Bank if the lender requires financing to avoid a second default, an official said.

“I don’t think BTA Bank will have to restructure debt or face bankruptcy, but we will provide financing to BTA if needed,” Aidan Karibzhanov, a deputy chief executive officer at Samruk-Kazyna, said in an interview in Astana. The fund hasn’t considered how it would inject money into the lender, he said.

Samruk-Kazyna plans to acquire up to 25% in Alliance Bank, BTA Bank, Narodny Bank and Kazkommertsbank, advisor to Kazakhstan prime minister says

Samruk-Kazyna, a Kazakhstan state-owned fund, is planning to acquire up to 25% of the ordinary voting shares in the four largest banks in Kazakhstan, said Alexander Mirtchev, one of the directors of Kazyna Fund and advisor to the prime minister of Kazakhstan.