BTA Bank Provisions Reached $8 Billion in July
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BTA Bank, Kazakhstan’s biggest lender before it defaulted in 2009, had provisions of 1.169 billion tenge ($8 billion) in July, the nation’s financial regulator said.
BTA calculated provisions, or cash the lender sets aside against bad loans, in accordance with international reporting standards in July, the Almaty-based central bank’s financial oversight committee said in a monthly report on its website. The lender allocated 943 billion tenge in June, based on Kazakh accounting standards.