OREANDA-NEWS. February 03, 2010. BTA Bank's subsidiary BTA Ipoteka (Almaty), bonds of which are listing on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

Representatives of public association 'Ostavim narody zhilie' appealed to BTA Ipoteka and expressed their concerns in how the company is handling problem borrowers.

BTA Ipoteka's management suggested a meeting be organized with representatives of public association 'Ostavim narody zhilie' and company borrowers at presence of the media. However, representatives of the association refused to attend the meeting only to voice the announcement outside of the company office. During the meeting several problem borrowers disagreed with the-earlier-offered methods to restructure debt.

BTA Ipoteka is seeking to cooperate with problem borrowers. The company considers various types of restructuring, aimed at stabilization of borrowers' standings. The company is developing a number of products, which will allow for different options to resolve such situations, including rent of the company's real estate.

The company is ready to render help to problem borrowers when resolving issues of the kind and is meeting regularly with representatives of public associations, including 'Ostavim narody zhilie' in order to consider borrowers' difficulties on an individual basis.

Unfortunately, sometimes such measures are not effective as borrowers try to avoid honoring obligations under credit agreements. However, BTA Ipoteka is striving to do its best.

It should be mentioned BTA Ipoteka has not restructured its debt and is fully complying with obligations before investors, a large portion of which are Kazakh pension funds.