BTA Bank carrying out its obligations from depositors and creditors and other clients17.03.2009 / Join-stock company "Sovereign Wealth Fund "Samruk-Kazyna"
On 2 February 2009, BTA Bank issued to National Welfare Fund Samruk-Kazyna, [25,246,343] new common shares of BTA Bank for KZT.
Samruk-Kazyna as a main shareholder of BTA Bank continues to be supportive of the operations of the BTA Group whilst the bank and its independent advisors and financial and legal advisers, Goldman Sachs and White & Case LLP, review the current position of the BTA Group in order to assist BTA Bank in formulating a plan for the BTA Group going forward.
Samruk-Kazyna intends to ensure that the members of the BTA Group continue to pay their financial indebtedness at maturity and interest payments as and when they fall due whilst BTA Bank and its advisers consider any potential modifications to the BTA Group’s debt structure to ensure the long term stability of the BTA Group, although in the event any financial indebtedness of the BTA Group is accelerated prior to its stated maturity, Samruk-Kazyna may no longer be prepared to provide such support.
BTA Bank’s eligible deposits benefit from full protection under the state deposit insurance scheme up to the prescribed individual limits and both Samruk-Kazyna and BTA Bank are fully aligned in wishing to protect the interests of depositors.