BTA adds $2.7 Billion to Loss Provisions

09.09.2009
    BTA, which is trying to restructure a $10.3 billion debt, said Tuesday it had created $2.7 billion of fresh provisions against loan losses following a review of its loan book.
    BTA said on Monday it had asked creditors to slash its debt by $8 billion to avoid bankruptcy.
    On Tuesday, the bank also named the members of its creditors' steering committee among which are ABN AMRO, Commerzbank, Export-Import Bank of the United States, Fortis Investment Management, ING Asia Private Bank Limited, JPMorgan Chase Bank, Standard Chartered Bank and Wachovia Bank, according to Reuters.