Kazakh bank Alliance reports $2.6 bln ’08 net loss

Aug 11. Reuters. ALMATY

Kazakh bank Alliance reports $2.6 bln '08 net lossKazakhstan’s No.4 bank Alliance said on Tuesday it lost 386.2 billion tenge ($2.562 billion at the current rate) in 2008, according to its audited IFRS report.

In 2007, Alliance, which is now in the process of restructuring its debt, made a profit of 42.7 billion tenge (about $283 million).

 

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