Alliance Bank
Alliance posts $2 billion H1 profit on restructuring
(SRI) - Alliance Bank, one of Kazakhstan’s recently restructured banks, posted a net profit of KZT298.9 billion ($2 billion) in the first half of 2010, mainly driven by income resulting from its debt restructuring.
Fitch Upgrades Alliance Bank to ‘B-’ on completion of restructuring
(Fitch Ratings) - Fitch Ratings has upgraded Alliance Bank’s Long-term foreign currency Issuer Default Rating (IDR) to ‘B-’ from ‘RD’ (Restricted Default), and assigned a Stable Outlook.
Alliance Bank upgraded to ‘B-/C’ on completion of restructuring - S&P
(Standard & Poor’s) - Standard & Poor’s Ratings Services said that it had raised its long-term counterparty credit ratings on Kazakhstan-based Alliance Bank JSC to ‘B-’ from ‘D’ and its short-term counterparty credit ratings to ‘C’ from ‘D.’
Central bank urges sale of BTA and Alliance
(SRI) - Samruk-Kazyna should expedite the sale of its majority stakes in BTA Bank and Alliance Bank, Kazakhstan’s central bank chairman Grigoriy Marchenko stated, saying that the state should not have a major shareholding role in the country’s commercial banks.
Alliance Bank net profit to reach $3 billion in 2010 on debt restructuring
(SRI) - Alliance Bank, Kazakhstan’s sixth-largest lender, expects a net profit of KZT448 billion ($3.0 billion) in 2010, chief executive Maksat Kabashev said on Tuesday, due mainly to income resulting from its debt restructuring.
Alliance loses $2 billion in 2009
(SRI) - Alliance Bank reported a net loss of KZT299 billion ($2.03 billion) in 2009, compared to a loss of KZT386 billion ($2.63 billion) a year earlier, according to the bank’s financial statements.
Moody’s reviews for upgrade Caa3 of Alliance Bank
(Moody’s) - Moody’s Investors Service has on April 6 placed on review for possible upgrade the Caa3 long-term local and foreign currency deposit ratings of Alliance Bank.
Alliance Bank becomes first Kazakh bank to complete debt restructuring
(SRI) - Alliance Bank, the second-largest Kazakh lender to default last year, said it had completed the restructuring of its $4.6-billion debt last Friday.
U.S. court grants Alliance Bank bankruptcy protection
(SRI) - A U.S. bankruptcy court granted Alliance Bank protection from U.S. creditors so that it may complete the restructuring of its $4.5-billion debt, Bloomberg reported.
Seimar Alliance looses bank holding status - FSA
(SRI) - Kazakhstan’s Financial Supervision Agency of Kazakhstan (FSA) has stripped the Seimar Alliance Financial Corporation, previously controlling shareholder of Alliance Bank, of its bank holding company status.
