Home > Kazakhstan > Kazakhs to Protect BTA Bank From Default, Wealth Fund Says

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.

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