Alliance Bank Joint Stock Company is one of the leading banks in Kazakhstan, which has been successfully providing

the banking services for more than 19 years. Today Alliance Bank JSC is the seventh largest bank in terms of assets in Kazakhstan, developing as a universal financial institution in all business segments, primarily focusing on the retail market and SME lending. Joint Stock Company (JSC) Alliance Bank (the Bank) was incorporated in the Republic of Kazakhstan in 1999 under the name of Open Joint Stock Company (OJSC) Irtyshbusinessbank as a result of a merger of OJSC Semipalatinsk Municipal Joint Stock Bank and OJSC Irtyshbusinessbank. Its

branch network includes 19 branches and 108 cash offices in 51 cities and rural settlements of the Republic of Kazakhstan. Alliance Bank JSC is a subsidiary of Sovereign Wealth Fund Samruk Kazyna JSC. JSC Alliance Banks primary business is related to commercial banking activity, originating loans and guarantees, accepting deposits, exchanging foreign currencies, dealing with securities, transferring cash payments, as well as providing other banking services. ATFBank Joint Stock Company was established in June 1995 under the name of Almaty Merchant Bank CJSC. The Bank operates under a general banking license issued on September 2, 2005 by the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Institutions, which also allows the Bank to conduct operations with precious metals and foreign currency operations. The Bank also possesses licenses for securities operations and custody services from the National Bank of the Republic of Kazakhstan granted on November 27, 2003. ATF Bank and subsidiary (the Group) provide retail, corporate banking and insurance services in Kazakhstan. The Bank accepts deposits from the public, extends credit, transfers payments in Kazakhstan and abroad, exchanges currencies and provides other banking services to its commercial and retail customers. The Bank has three subsidiaries and one associate. Financial crisis in Kazakhstan began in the second half of the 2007 due to problems in the mortgage market in the U.S. According to unofficial data, by the end of 2008 the debt of Kazakh banks to foreign creditors reached an astronomical sum more than $ 35 billion. Moreover, in the most difficult position in this situation were exactly "Alliance Bank" and ATF Bank, which not only took considerable funds abroad, but also invested in risky projects abroad, and actively made loans of purchasing real estate in the country. On October 2008, the anti-crisis plan was developed under which the government has allocated funds for the purchase from leading banks (Halyk Bank, Kazkommertsbank, BTA Bank and Alliance Bank) 25% of the voting shares. On February 2, 2009, The Government of the Republic of Kazakhstan reported on redemption of 76% of the shares of Alliance Bank. Unfortunately really buybacks did not take place until the end of 2009.

On April 13, 2009, JSC "Alliance Bank" applied to creditors with a proposal to restructure the debt. Experts regarded this statement as a technical default. On December 15, 2009 the head of the Alliance Bank reported that lenders have approved the restructuring plan of its obligations. As a result the bank's debt reduced by $ 1 billion from $ 4.5 billion After the restructuring of debts of JSC Alliance Bank was completed on April 2010, Sovereign Wealth Fund Samruk-Kazyna" acquired a controlling packet of shares of "Alliance Bank" and spend $ 856 million on its capitalization. In November 2007 - Bank Austria Creditanstalt (BA-CA), a division of UniCredit Group (UniCredit Group) for the commercial banking sector in Central and Eastern Europe, has acquired 91.8% of shares of JSC "ATF." (Over 2,117,000 U.S. dollars (about 1.452 million euros at the current exchange rate)) As KzRating has mentioned before, the quality of the loan portfolio (especially in the corporate sector) is often exaggerated by Kazakh banks in order to ensure sufficient profitability. The new owners of ATF bank (UniCredit Group) were the first to conduct a large-scale asset reclassification in 2008. March 15, 2013 UniCredit Bank Austria has signed the sale contract with KazNitrogenGaz related to the selling of 99.75% of Kazakhstan JSC "ATF."!