Kazakh Welfare Fund supports restructuring BTA Bank
Kazakhstan, Astana, Jan.26/ Trend, L. Podolyak /
The Kazakh BTA Bank's main shareholder, the Samruk Kazyna National Welfare Fund, supports restructuring the bank and forming the Committee of Creditors.
Samruk Kazyna reaffirms its commitment to restructuring the bank in a proper manner and on a consensual basis, and also supports the formation of the committee to discuss the terms of restructuring the bank's financial indebtedness, the report says.
The holding said it intends to take part in the negotiations as soon as the committee will be formed. Samruk Kazyna will also work with the committee so that BTA Bank will become a competitive financial institution after the restructuring.
Samruk Kazyna will support any form of restructuring of deposits or suspension of payments on them on no consideration," the Fund said.
The BTA Bank stockholders meeting held on Jan. 26 did not support a proposal to start debt restructuring and imposing a moratorium on certain payments to creditors.