OREANDA-NEWS. April 06, 2009. The Financial Services Authority suspended trading in shares of the fourth largest Kazakhstan bank Alliance Bank on the London Stock Exchange until financial standings of the bank are clarified, FSA informed.

In February the Kazakhstan Government, supporting the crisis hampered banking system, agreed to buy a 76 % share of the bank for symbolic KZT100 (USD0.82) from Seimar Alliance Financial Corporation (SAFC) - the then major shareholder.

SAFC retained 8 % of Alliance shares, with the rest trading on KASE and LSE.

The Britain financial regulator suspended trading as Alliance Bank announced the bank would recalculate its assets value after the government appointed bank management disclosed the securities portfolio "might have deteriorated dramatically".

"This revaluation of assets is made to improve situation in the bank, and will in no way affect its operation and capability to meet obligations", - the bank statement said.

By the time being the bank received a USD200 m. deposit from the state to boost liquidity.

It is undisclosed how much more the government may give the bank.

As on March 1, 2008 the volume of bank assets reached KZT1,146 trln., own capital - KZT159 bn.