All legal agreements on additional capitalization of 4 main banks to be signed till mid February 2009

ASTANA. January 14. KAZINFORM /Zauresh Balkenova/ ?SamrukKazyna? National Welfare Fund plans to sign all legal agreements with four main banks of Kazakhstan on additional capitalization of their stock capital by the state till the middle of February 2009. Chairman of ?SamrukKazyna? Fund Kairat Kelimbetov has informed about it today at a press conference; Kazinform reports.

?We suppose to complete signing of the agreements with two banks till the end of January and in two weeks we will do it with other two banks relatively?, K. Kelimbetov informed. ?We will sign all necessary legal agreements between the state and the banks till the middle of February?. Three types of agreements are expected to be signed between the Government on behalf of ?SamrukKazyna? Fund and four strategic banks of the republic. As K. Kelimbetov explained, these are the agreement concerning the implementation of the Memo on mutual understanding concluded on November 28, 2008, the optional agreement, and the agreement between share holders (subject of confidential negotiations). As is known, earlier Kazakh Government offered to the share holders of four main banks to add their capital with inflows from ?SamrukKazyna? National Welfare Fund amounted to USD 5 bln. The State on behalf of ?SamrukKazyna? Fund plans to make additional capitalization of the banks in accordance with the legislation through the issue of simple and privileged shares in the amount not exceeding 25 per cent of every bank?s stock capital.