BTA Bank (BTAS), Kazakhstan’s biggest lender before defaulting on $12 billion of debt in 2009, extended its year-to-date loss last month amid plans to restructure debt for the second time in as many years.
The net loss widened by 63.5 billion tenge ($423 million) from May to 1.371 trillion tenge in the year through June, the central bank’s financial oversight committee said in a monthly report on its website. Liabilities of 2.66 trillion tenge exceeded assets by 1.21 trillion tenge, according to the Almaty- based regulator.
BTA said talks began last month on its proposed debt overhaul with the creditors’ steering committee after the state- owned lender failed to make an interest payment on its July 2018 dollar bonds in January. Kazakhstan’s third-largest lender by assets on July 16 filed for creditor protection under Chapter 15 of the U.S. bankruptcy code for the second time in about two and a half years.
BTA Bank didn’t immediately reply to an e-mailed request for comments.
The following table shows the six-month performance of Kazakhstan’s five largest lenders by assets, along with seventh- ranked Alliance Bank and 13th-ranked Temirbank, and their position as of July 1. The data from the oversight committee are in billions of tenge:
================================================================ Bank Assets Loans Provisions Profit/ Outstanding Loss ================================================================ Halyk Bank 2,513.2 1,391.4 328.4 26.48 Kazkommertsbank 2,457.1 2,368.8 873.1 0.69 BTA Bank 1,443.8 2,069.9 1,775.0 -1,371.3 Bank Centercredit 1,057.7 832.4 134.6 1.04 ATF Bank 929.6 815.2 175.7 -2.88 Alliance Bank 546.5 554.5 248.5 -0.23 Temirbank 257.0 232.3 118.0 0.14 All 38 Banks 13,474.5 10,957.6 3,945.6 -1,310.58 ================================================================
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