SamrukKazyna Fund to allocate USD 2 bln to Kazkommertsbank, Halyk Bank: K.Kelimbetov

ASTANA. January 19. KAZINFORM /Zauresh Balkenova/ National Welfare Fund ?SamrukKazyna? will transfer USD 2 bln to the accounts of the two leading banks – ?Kazkommertsbank? and ?Halyk Bank? – till the end of January. Head of the Fund Kairat Kelimbetov has announced it today in the Astana akimat (administration), Kazinform reports.

?We agreed with these two banks that we will place corresponding funds amounting to USD 1 bln for each bank to their accounts till January 31, 2009. USD 2 bln will hit the accounts of the leading second-tier banks and they will start financing of planned projects?. K.Kelimbetov reminded that ?it is planned to allocate USD 300 mln to ?Kazkommertsbank? and USD 500 mln ? to ?Halyk Bank? till the end of the week?. According to him, these funds will be spent for an additional capitalization and directed to formation of provisions and projects financing. A reported earlier , ?SamrukKazyna? Fund signed the corresponding agreements with the two top banks of the country ? ?Kazkommertsbank? and ?Halyk Bank?. ?These agreements provide that after completion of all procedures on behalf of the state ?SamrukKazyna? Fund will be a stockholder of these banks and will support their additional capitalization?, the head of the Fund said. ?Our negotiates with two other banks ? ?Bank TuranAlem? and ?Alliance Bank? - are expected to end by mid February", K.Kelimbetov noted.