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ALMATY, Nov 5 (Reuters) - Alliance bank, a large Kazakh lender due to be taken over by the government as part of a debt restructuring deal, posted a 224 billion tenge ($1.5 billion) January-September loss on Thursday. Alliance, which lost 988 million tenge ($7 million) in the same period of 2008, went into default this year and is finalising a debt restructuring deal that will see its $4.3 billion debt cut by over $3 billion. The bank, whose financial reports calculated to international accounting standards were published by the Kazakh stock exchange on Thursday, has blamed the default on bad loans and a previously undisclosed $1.1 billion asset pledge. The government has said it could sell the lender to a strategic investor after in the future. It has also accused the former majority shareholders of Alliance of stealing $112 million from it. (Writing by Olzhas Auyezov; editing by Simon Jessop) Keywords: ALLIANCEBANK/LOSS (olzhas.auyezov@reuters.com; +7 7272 508500; Reuters Messaging: olzhas.auyezov.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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