OREANDA-NEWS. October 25, 2010. AMT BANK LLC believes that that actions of one of its stakeholders, which ran out of legal opportunities for getting control over the Bank, became obviously destructive and disagree with the interests of the Bank, its customers and lenders, reported the press-centre of AMT BANK.

In the letter, forwarded on October 8, 2010 to higher officials of the Russian Federation, the Bank gives its estimation of the conflict between its stakeholders – a financier and a politician, a national of the Republic of Kazakhstan, Mr. Mukhtar K. Ablyazov, and Kazakhstan BTA Bank JSC, which got under control by the Samruk Kazyna state holding (Republic of Kazakhstan) after forced nationalization in February, 2009.

Being the object of struggle by the stakeholders for the last year and a half, for all this time the Bank has been keeping on its operation, seeking to distance itself from what is going on and keeping the parity of the owners’ rights. Even being involved into the conflict of the stakeholders, within that period the Bank decreased its indebtedness under unsecured loans to the Central Bank of the Russian Federation from RUB 24 bln down to RUB 8.5 bln by paying to the Bank of Russia about RUB 20 bln of the principal debt and interest accrued on it, achieved certain success in business, increased its capital through raising subordinated loans of more than RUB 2 bln, resumed lending individuals and customers.

The letter mentions that after unsuccessful attempts to establish control over the business of AMT BANK LLC and dispute the decisions of its collegial bodies at courts of the Russian Federation, the actions of Kazakhstan BTA Bank JSC (owner of 22% of stakes in the authorized capital of AMT ABNK LLC) became obviously destructive. The arguments in favour of this point of view are given by the Bank in the above letter, which contains a request to get the corporate conflict under control, which conflict disagrees with the interests of the Bank, its customers and lenders. By addressing so the Bank seeks to secure conditions for normal business and minimize the consequences of the conflict of the owners.