OREANDA-NEWS. March 18, 2010. BTA Bank's subsidiary BTA Ipoteka (Almaty), bonds of which are listing on Kazakhstan Stock Exchange (KASE), provided KASE with a letter, reported the press-centre of KASE:

Herewith BTA Bank's mortgage subsidiary BTA Ipoteka (the Company) informs - FSA Resolution No. 221 dated September 26, 2009, and No. 258 dated December 29, 2009 suspended license for banking currency operations after the Company had violated prudential norms (capital adequacy coefficient and maximum loan portfolio) beginning October 2, 2009 through March 26, 2010.

In connection with the decision made at the meeting of the Board of Directors of BTA Ipoteka on conversion of the company to the organization acquiring STBs non-performing and bad claims for managing and (or) subsequent sale thereof, restructuring and (or) securitization, the Company informed on the decision to voluntary waive the license for banking currency operations specified in Kazakhstan banking law No. 27 dated August 14, 2008.

At that we note the Company:

- will serve loans in the former mode and honor its obligations to investors;

- take all steps to improve loan portfolio quality and is planning to return the license to the company.

A copy of the extract from the meeting of the Board of directors of BTA Bank's subsidiary BTA Ipoteka dated March 1, 2010 is available at
http://www.kase.kz/files/emitters/BTAI/btai_resh_010310.pdf