OREANDA-NEWS. July 21, 2009. Alliance Bank (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), provided to KASE the following press release, reported the press-centre of KASE:

Alliance Bank (hereinafter - the Bank) informed on signing of the agreement between the Bank and National Welfare Fund Samruk-Kazyna.

According to the document Samruk-Kazyna intends to acquire the control stock of the Bank and finalize the Bank capitalization in the size of KZT129 bn. as previously informed the term of the Fund entry to Alliance Bank capital was achieved through agreement with the Creditors' Steering Committee on the Bank indebtedness restructuring.

As a result of finalized capitalization and restructuring by Samruk-Kazyna, the Bank will restore its capital up to the adequate level.

In addition, in compliance with the agreement with the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS) of April 28, 2009, the Bank represented to AFS the restructuring and recapitalization plan.

It is expected that restructuring and Samruk-Kazyna entry to the Bank capital will be completed at the beginning of November of 2009.