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Kazakhstan’s BTA Bank Reports Loss in January

Business Materials 23 February 2011 13:45 (UTC +04:00)

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:

================================================================
Bank                 Assets     Loans    Provisions  Profit/
                             Outstanding              Loss
================================================================

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
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