Samruk-Kazyna mulls merging Temir and Alliance banks in 2013

Samruk-Kazyna National Welfare Fund is considering a merger of Temir Bank and Alliance Bank in 2013, Tengrinews.kz reports citing deputy chairman of Samruk-Kazyna Yelena Bakhmutova as saying at the briefing on BTA Bank. “This issue is still being considered. I suppose it can be activated in the beginning of the next year,” Bakhmutova said answering the journalists’ questions. According to her, the state fund is currently dealing with finalization of restructuring of BTA Bank. A proper legislative base is required for negotiations with the creditors, Bakhmutova says. “We need to make certain changes into the legislative acts on joint-stock companies in the part regulating banks to meet the requirements set forth in the obligations after the first restructuring. This subject is still pressing. Especially since the regulator (Kazakhstan authority regulating financial institutions) is introducing new requirements on gradual capitalization of the banks. It is challenging for the whole banking sector, including Alliance Bank. The bank’s capital adequacy is not sufficient as per the international standards,” Bakhmutova said. By Gulnara Zhandagulova

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