1 September 2010
President Nursultan Nazarbayev Receives Prime Minister Karim Massimov, Chairman of the National Bank Grigory Marchenko and Chairman of the Board of the Samruk-Kazyna National Welfare Fund Kairat Kelimbetov

In the course of the meeting the President was briefed on the Restructuring Plan of BTA Bank, JSC that was approved at the board meeting of the Agency for Regulation and Supervision of Financial Market and Financial Organizations on August 31, 2010.

Nursultan Nazarbayev expressed his gratitude to all for the work had been done and noted that as a result of the proper strategy the state stabilized the country’s banking sector that presently working in the regular mode.

At a press briefing Grigory Marchenko emphasized that the Financial Indebtedness Restructuring Plan of the Alliance Bank and Temir Bank had been also terminated this year.

"Thus all three banks, which started the Restructuring last spring successfully completed it. The written-off debts totaled about USD 11 billion. The remaining part of the debts had been recapitalized in securities and converted into the shares of these banks. We express our gratitude to foreign creditors for their constructive position,” G.Marchenko stressed.


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