Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
27th January 2012
No progress for BTA
It was officially announced that shareholders of BTA, Kazakhstan's third largest bank, had rejected restructuring plans. The state, through its sovereign wealth fund, Samruk-Kzyna, owns most of the stock.
BTA want western bank creditors to accept another round of writedowns. As recently as 2010 the western banks agreed to writeoff two thirds of the debt as part of a restructure. Creditors include Bank of America, Barclays, Commerzbank, Credit Suisse, Goldman Sachs, HSBC, Royal Bank of Scotland, Standard Chartered and Wells Fargo.
BTA said it would continue to pursue its plan for a second debt restructuring and that it hoped within the next few days to form a creditors' committee to explore its options.