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Monday 17 September 2012

Kazakhstan Not Planning Cash Injection into BTA


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(Bloomberg) – Kazakhstan government has no plan to inject money into state-owned BTA Bank (BTAS), which has defaulted on its debt twice in three years, Deputy Prime Minister Kairat Kelimbetov said.

Speaking in a Sept. 15 interview in Ukraine’s Black Sea city of Yalta, where he attended the Yalta European Conference, Kelimbetov wouldn’t elaborate on the government’s plans for the lender.

Last August, Almaty court prolonged the deadline for the restructuring of BTA Bank by three months until Dec. 20 as talks continue on its second debt overhaul. in as many years.

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