Two large Kazakh banks sign goverment aid deals

ASTANA Jan 15 (Reuters) - Kazakhstan's No.2 bank Kazkommerts (KKGByq.L) and the third-largest lender Halyk (HSBKq.L) signed deals with the government on Thursday, paving the way for capital injections from the state.

The Central Asian state's government has earmarked a total of $3.5 billion for the top four banks hit by the global financial crisis. Kazkommerts is due to get $300 million while Halyk will receive $500 million.

"The financing of these two banks will begin in January," the Samruk-Kazyna national welfare fund, which manages the capital injection program, said.

Samruk-Kazyna will buy up to 25 percent of each bank's common shares and inject the rest of the money through preferred stock and subordinated loans. It did not say what the prices of the deals were.

The government has previously said it would use the closing price at Oct. 24. Agreements with two other large banks, BTA BTAS.KZ and Alliance ALLBq.L, will be signed by mid-February, Samruk-Kazyna said. (Reporting by Raushan Nurshayeva; Writing by Olzhas Auyezov; Editing by Erica Billingham)