UPDATE 3-Kazakh bank BTA to claim half of aid package

(Adds Alliance bank comments, Kazkommerts shareholder meeting)

By Olzhas Auyezov

ALMATY, Oct 30 (Reuters) - Kazakhstan's biggest bank BTA BTAS.KZ plans to grab the lion's share of the $5 billion state rescue package designed to help the flagging sector combat the global credit crunch, it said on Thursday.

Three of Kazakhstan's four largest banks this week agreed to sell stakes to the government which set up the fund for capital injections.

BTA said the government could invest up to $2.3 billion in its common and preferred stock and subordinated debt.

"BTA plans to discuss the government's offer... at the next shareholder meeting," the bank said in a statement.

The government has urged banks to double their loan loss provisions from the current $6.7 billion and offered to buy up to 25 percent in each of the four largest local banks -- BTA, Kazkommertsbank (KKGByq.L) KKGB.KZ, Halyk (HSBKq.L) HSBK.KZ and Alliance Bank (ALLBq.L) ASBN.KZ.

The three banks said details such as pricing had yet to be discussed and approved by shareholders.

Kazkommertsbank said separately it would call an extraordinary shareholder meeting on Dec. 3.

BTA did not say when shareholders would discuss the issue and how quickly the money could be channelled into its capital. Kazakh law requires a month's notice for shareholder meetings.

Analysts said BTA's higher investment claim could be explained by its more aggressive lending policy compared to other domestic players.

"They are running on tight capital adequacy ratios and, unlike Kazkommertsbank and Alliance, they have been growing their balance sheet this year," said Milena Ivanova-Venturini, a banking analyst with investment bank Renaissance Capital.

"Also, BTA has high exposure to the construction sector."

The Central Asian state's second-largest lender, Kazkommertsbank, expects an injection of up to $300 million through the sale of common and preferred stock to the state-run SamrukKazyna fund.

The third biggest bank, Halyk, said it expected the state to invest about $500 million. Alliance, the fourth-largest bank, said it expected to receive $500 million.

Alliance bank Chief Executive Erik Sultankulov said the banks could get the money even before completing share placements.

"The (SamrukKazyna) fund is ready to give us deposits which can later be converted into common stock," he told reporters, adding Alliance expected the government to remain a stakeholder for 3-5 years.

(Editing by Mike Nesbit)