Kazakhs to Protect BTA Bank From Default, Wealth Fund Says
Thursday 7 July 2011
(Bloombareg) – 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.