BTA Bank, the biggest Kazakh lender to default in 2009, posted a loss of 5.62 billion tenge ($38 million) in January, the country's financial regulator said, Bloomberg reported.
Alliance Bank's 1.8 billion-tenge loss was the second- biggest among 39 Kazakh lenders in January, the Almaty-based Financial Supervision Agency said in a report on its website today.
BTA, Kazakhstan's largest lender at the time, was taken over in early 2009 by the National Wellbeing Fund Samruk-Kazyna after credit markets froze and the country's property bubble burst. Three of the four Kazakh lenders that defaulted -- BTA, Temirbank and Alliance Bank -- reached restructuring deals with creditors, allowing them to write off about $11 billion of debt.
BTA had a profit of 1.15 trillion tenge last year after creditors cut the bank's debt to $4.2 billion from $16.7 billion, according to the regulator's website.
Ilya Borovoi, a spokesman for Almaty-based BTA Bank, declined to comment immediately.
The following table shows the January performance of Kazakhstan's six largest lenders, along with 14th-ranked Temirbank, and their position as of Feb. 1. The data from the Agency for Financial Supervision is in billions of tenge and calculated to Kazakh accounting standards:
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Bank Assets Loans Provisions Profit/
Outstanding Loss
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Kazkommertsbank 2,361.1 2,321.9 729.7 0.08
Halyk Bank 2,161.9 1,214.9 289.8 2.3
BTA Bank 1,979.4 1,642.4 920.2 -5.62
Bank Centercredit 1,133.9 721.0 109.4 0.16
ATF Bank 999.2 844.4 128.8 -0.43
Alliance Bank 483.2 544.7 319.9 -1.77
Temirbank 198.4 209.4 109.8 0.76
All Banks 12,111.4 9,039.5 2,817.2 -3.28