From Foxbusiness.com: BTA was taken over by Kazakhstan’s sovereign wealth fund Samruk-Kazyna last year, just before defaulting on its foreign obligations. The bank completed its debt restructuring earlier this year, cutting its debt to $4.2 billion from $16.65 billion.
Marchenko said that Kazakh and foreign banks are unlikely to secure the recovery of BTA’s Russian assets as successfully as Sberbank can……………………………………….Full Article: Source