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{{Infobox Company
{{Infobox Company
| company_name = BTA Bank (Банк ТуранАлем)
| company_name = BTA Bank JSC
| company_logo = [[File:BTA Logo.gif|200 px]]
| company_logo = [[File:BTA_Bank_logo_en.jpg|200 px]]
| company_type = [[Joint stock company]]<br />({{KASE|BTAS}})
| company_type = [[Joint-Stock Company]]
| License = No.242 dated March 4, 2008
| foundation = 1925
| Activities = All types of banking activities
| location = [[Almaty]], [[Kazakhstan]]
| Moto = Time for new opportunities
| key_people = Marat Zairov, [[CEO]]
| Founded = [[1991]]
| industry = [[Finance and Insurance]]
| Headquarters = {{флагификация|Kazakhstan}}: [[Almaty]]
| products = [[Banking]]
| Key people = [[Bakhmutova, Yelena Leonidovna|Yelena Bakhmutova]] (Chairman of the Board of Directors), <br />[[Damitov, Kadyrzhan Kabdoshevich|Kadyrzhan Damitov]] (Chairman of the Management Board)
| revenue =
| Equity = KZT 287.4 bln. <br />(June 30, 2013)
| homepage = [http://www.bta.kz/en/ BTA Bank]
| Assets = KZT 1,621 bln.<br />(June 30, 2013)
| Net income = KZT 15.6 bln.<br />(June 30, 2013)
| Auditor = [[Ernst & Young]]
| website = [http://www.bta.kz bta.kz], [http://бта.қаз бта.қаз]
}}
}}


'''JSC BTA Bank''' (former Bank TuranAlem or Turalem) is the third largest lender in [[Kazakhstan]] by assets.<ref>[http://www.bloomberg.com/news/2010-06-21/bta-bank-of-kazakhstan-to-restructure-client-debts-as-it-increases-lending.html BTA Bank of Kazakhstan to Restructure Client Debts as It Increases Lending] ''Nariman Gizitdinov, Bloomberg, 21 June 2010''</ref> BTA Bank has 9 partner banks in [[Russia]], [[Ukraine]], [[Belarus]], [[Turkey]], [[Georgia (country)|Georgia]], [[Armenia]] and representative offices in [[China]], Ukraine, the [[UK]], Russia and the [[United Arab Emirates]].


'''BTA Bank JSC''' ({{КФБ|BTAS}}) — is the third largest lender in [[Kazakh]]stan by assets (as of August 1, [[2013]]).{{-1|<ref name="fattah-finance.kz">[http://www.fattah-finance.kz/newsroom/world-news/KASE.htm Новости Казахстанской фондовой биржи.]</ref>}}
== Bank Turanalem ==


Full name — ''BTA Bank Joint-Stock Company''.
*Approximately 1.2 million customers and 132,000 corporate clients;
*22 branches and 230 cash settlement units in Kazakhstan;


Head Office — in [[Almaty]].
== History ==


== Activities ==
Bank TuranAlem was founded in 1925 and is the ancestor of the modern JSC BTA Bank. Bank TuranAlem was established when the department of Promyshlennyi (Industrial) Bank (Prombank) (Russian: Промышленный банк (Промбанк)) was opened in the Kazakh Republic following a ruling from the Presidium of Central Council.
BTA Bank provides a wide range of banking services to the [http://www.bta.kz/en/personal/ individuals], [http://www.bta.kz/en/buss/ SMEs], [http://www.bta.kz/en/corp/ major corporate customers]. [http://www.bta.kz/en/branches/ The Bank’s branch network] includes 19 branches and over 170 outlets around Kazakhstan. International [http://www.bta.kz/en/group/ representative offices of the Bank] are located in [[Russia|Russia]], [[Great Britain|Great Britain]] and [[China|China]]. BTA’s banking networks are spread around [[Kazakhstan]], [[Russia|Russia]], [[Belarus]], [[Ukraine|Ukraine]], [[Kyrgyzstan]], [[Armenia|Armenia]], [[Georgia|Georgia]] and[[Turkey|Turkey]].


BTA’s modern technologic infrastructure enables the customers to make most transactions remotely at any convenient time. BTA’s alternative service channels network includes over 880 [http://www.bta.kz/en/branches/atm/adratm/ ATMs], over 1,130 POS-terminal in trade and service outlets, 170 [http://www.bta.kz/en/branches/atm/ self-service terminals], BTA24 [http://www.bta24.kz БТА24] round-the-clock online service and SMS-banking.
== Modernisation and growth ==


=== Financial performance ===
The closed joint-stock company Bank TuranAlem was created on January 15, 1997 following a ruling from the Kazakhstan government over the reorganization of Kazakh joint-stock bank Turanbank and joint-stock bank Alem Bank Kazakhstan.


According to the audited [http://www.bta.kz/en/investor/reports/ consolidated statements], as of 31 December [[2012]] the Group’s assets amounted to KZT 1.6 trln., loan portfolio (net) — KZT 645 bln., liabilities — KZT 1.3 trln., equity — KZT 268.6 bln. The Group’s net income for 2012 amounted to KZT 370.3 bln.
JSC Bank TuranAlem (BTA) is among the largest banks in Kazakhstan and is a leader in the creation of banking networks within the [[Commonwealth of Independent States]] (CIS).


According to unaudited interim condensed consolidated IFRS statements as of June 30, 2013 the Group’s assets amounted to KZT 1,621 bln., loan portfolio (net) – KZT 636 bln., liabilities – 1,334 bln., equity – KZT 287.4 bln. Net income of the Group for the first 6 months of 2013 amounted to KZT 15.6 bln.
BTA Bank operates in the CIS and far-abroad countries. The activities of its strategic bank partners cover Ukraine, Russia, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA Bank also runs its representative offices in Russia, Ukraine, China and the United Arab Emirates.


== Shareholders and management ==
In Kazakhstan, BTA Bank’s network consists of 22 branches and 230 cash settlement units.


Major [http://www.bta.kz/en/about/shareholders/ shareholder of BTA Bank] is the Government of the Republic of Kazakhstan represented by [[Samruk-Kazyna JSC]], which holds 97.3% of common shares in the Bank as the result of [[2009]]–[[2012]] restructurings. BTA Bank’s creditors who converted former liabilities to new notes and shares hold 2.5% of common [http://www.bta.kz/en/about/shareholders/ shares in the Bank]. Minority shareholders who held Bank’s shares prior to [[2010]] restructuring hold in aggregate 0.2% [http://www.bta.kz/en/about/shareholders/ of the Bank’s shares].
== Global economic crisis ==


Previously 58 % of the Bank’s shares were held by a group of Kazakh businessmen leaded by [[Mukhtar Ablyazov|Mukhtar Ablyazov]], another 11% were held by the family of late [[Tatishev, Yerzhan Nureldaemovich|Yerzhan Tatishev]], minority stakes were held by [http://ru.wikipedia.org/wiki/%D0%95%D0%91%D0%A0%D0%A0 EBRD], [http://ru.wikipedia.org/wiki/IFC IFC] and [http://ru.wikipedia.org/w/index.php?title=FMO&action=edit&redlink=1 FMO].
[[Mukhtar Ablyazov]] was [[Chairman]] of the Board of directors of BTA Bank from 2005 to 2009, and was responsible for leading BTA Bank’s strategy during this time.


Chairman of the Board of Directors of the Bank is Ms. [http://www.bta.kz/ru/about/directors/ Yelena Bakhmutova] Deputy Chairman of the Management Board of Samruk-Kazyna JSC (since February 15, 2013). [http://i-news.kz/news/2013/07/30/7120218-kadyrzhan_damitov_izbran_novym_glavoi_bt.html Chairman of the Management Board — Mr. Kadyrzhan Damitov] (since August 5, 2013).
BTA Bank pursued an ambitious expansionist strategy during the crisis, which was achieved through exceptionally high loan growth, unaccompanied by an equivalent growth in deposits, that resulted in a massive funding gap and latent credit risks. The rapid growth warranted a warning from Kazakhstan’s financial regulatory agency for BTA Bank to increase its reserves.<ref>[http://www.afn.kz/en/information-for-entities-of-financial-market/banks-sektor/2009-11-10-11-54-18/2009-11-12-04-54-19?controller=banks&task=measuresinfo&cid%5b0%5d=142] - Memo, ''Agency of the Republic of Kazakhstan on regulation and supervision of financial market and financial organisations, March 28, 2008''</ref>


== [http://www.bta.kz/ru/about/history/ History] ==
The bank’s lending policies under Ablyazov destabilized BTA Bank’s [[balance sheet]] and necessitated an effective takeover in 2009 by Kazakhstan’s National Welfare Fund, [[Samruk-Kazyna]].<ref>[http://www.btabank.kg/en/news/00031/ The [[National Wealth Fund]] "Samruk-Kazyna" has transferred to BTA Bank 1,7 milliard US dollars and continues to form managing bodies of the financial institution] - ''BTA press release, 4 February 2009''</ref> Shortly after, Ablyazov and other former members of management fled Kazakhstan.


=== First stage ===
In 2009 BTA Bank commenced civil proceedings against Ablyazov and the High Court in London has found sufficient cause to freeze Ablyazov’s assets.


[[Файл:Logo turanalem bank.jpg|right|thumb|200 px|Bank TuranAlem logo]]
A report from Kazakhstan’s financial regulatory agency indicated Ablyazov established regional committees to approve [[loans]] while at the same time chairing these committees, a process which breached corporate management principles.<ref>[http://www.afn.kz/en/news/42-news-ru/2531-2009-02-02%2000-00-00-1371 Agency of the Republic of Kazakhstan on regulation and supervision of financial market and financial organisations] - ''Memo, 2 February 2009''</ref>


On [[October 15]] [[1925]] Presidium of Central Council of the Kazakhstan national economy ruled to open the department of Promyshlennyi (Industrial) Bank ([[Prombank]]).
As a result of its aggressive lending and intransparent practices, BTA Bank had the highest percentage of bad loans of any other Kazakh bank in July 2009, accounting for 53.94% of all non-performing loans in Kazakhstan.<ref>http://www.afn.kz/en/ Agency of the Republic of Kazakhstan on regulation and supervision of financial market and financial organisations</ref>


During the soviet period the bank has undergone several reorganizations. In [[1991]] it was re-established as Turanbank, the Kazakh Republican Bank of the State commercial industrial and construction bank. In [[1991]] Turanbank was established on its basis. In [[1992]] the bank was renamed to Alem Bank Kazakhstan, the Bank of foreign economic activities of the Republic of Kazakhstan.
==Restructuring==


[[On January 15]], [[1997]] Bank TuranAlem Closed Joint-Stock Company was established in accordance with the Decree of the Government of the Republic of Kazakhstan “On reorganization of the Kazakh joint-stock bank Turanbank and joint-stock bank AlemBank Kazakhstan”. On [[October 1]] [[1998]] Bank TuranAlem CJSC was renamed to Bank TuranAlem OJSC and then to Bank TuranAlem JSC.
BTA Bank reached a compromise with its bondholders to issue cash and new securities equal to approximately half of the $12.2 billion owed as part of its restructuring package.


[[File:BTA Bank logo en.jpg|right|thumb|200 px|BTA Bank JSC logo]]
The package was equal to $7.8 billion, or 63% of the outstanding principal and interest. Creditors also received recovery notes, allowing them to profit from the sale of assets, and 15% of BTA’s equity.


In spring [[2008]] the bank made [[rebranding]], which resulted in the change of the name, [[logo]] and corporate identity of the bank. Currently BTA Bank JSC name is not perceived as an [[acronym]] anymore.
BTA set out to pay about $1 billion in cash to the creditors and issue $2.3 billion of senior debt and $797 million of subordinated debt under the restructuring agreement.<ref>[http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a2jc9vni7M7E BTA Reaches Compromise on $12 Billion Restructuring] - ''Nariman Gizitdinov, Bloomberg, 8 December 2009''</ref>


=== Events of 2009–2012 ===
In June 2012, BTA declared talks began on its proposed debt overhaul with the creditors’ steering committee after the state-owned lender failed to make an interest payment on its July 2018 dollar bonds in January. Subsequently, BTA filed for creditor protection under Chapter 15 of the U.S. bankruptcy code for the second time in about two and a half years.<ref>{{cite news|title=BTA Bank’s Loss Aggravated by $423 Million|url=http://www.satrapia.com/news/article/bta-banks-loss-aggravated-by-423-million/|accessdate=4 August 2012|newspaper=The Gazette of Central Asia|date=30 July 2012|publisher=Satrapia}}</ref>
In [[February|February]] [[2009]] Samruk-Kazyna Fund purchased 75.1% of BTA Bank’s shares as part of contingency measures of the Government of the Republic of Kazakhstan. As the result the bank gained additional capital of KZT 251.3 bln.


During [[2009]]-[[2010]] BTA Bank has completed restructuring of its certain financial indebtedness. As the result the bank’s indebtedness decreased from $16.65 bln. to $4.2 bln, Samruk-Kazyna Fund’s share in the capital increased up to 81.48%, both domestic and foreign creditors became the Bank’s shareholders holding 18.5% in the capital.
==Asset recovery==


Due to aggravation of the Bank’s financial status during 2011, relative shortage of liquid assets and negative financial performance, in [[2012]] BTA Bank started the second restructuring which resulted in cancellation of the Bank’s certain financial indebtedness. In consideration, the creditors received $1,618 cash and $750 mln. New Notes.
BTA Bank has lodged court proceedings against Ablyazov in the UK as part of its effort to recover assets. Reports now suggest British taxpayers could benefit from legal action being taken against Ablyazov over the alleged embezzlement of more than £1 billion.<ref>[http://www.mediapoint.press.net/business/article.jsp?id=6943071 Taxpayers set for cash boost in banker case] - ''Sam Marsden, Press Association, 21 July 2010</ref> Royal Bank of Scotland, which is now 83%-owned by the UK Government after a succession of bailouts, is among the creditors which had to write off a total of $6.8 billion (£4.4 billion) lent to the Kazakh bank.<ref>[http://news.scotsman.com/scotland/RBS-sues-Kazakh-over-391bn.6433202.jp] - ''RBS sues Kazakh over '£1bn fraud', 22 July 2010''</ref>


BTA Bank also entered into a revised Revocable Committed Trade Finance Facility (RCTFF) with liabilities amounting to around $348 mln. as of the restructuring date. Samruk-Kazyna Fund extended $1.592 bln. loan to BTA Bank JSC subordinated to the New Notes and RCTFF.
In November 2012, a U.K. court ordered Mukhtar Ablyazov to pay £1.02 bln ($1.63 bln) plus interest. The court also ordered "new post-judgment asset-freezing orders be made against Mr. Ablyazov in an unlimited sum and new asset-freezing orders in relation to certain other defendants."<ref>{{cite news|title=BTA Bank: Court Rules Against Ablyazov in $2 bln Suit|url=http://www.satrapia.com/news/article/bta-bank-court-rules-against-ablyazov-in-2-bln-suit/|newspaper=The Gazette of Central Asia|date=28 November 2012|publisher=Satrapia}}</ref>


During the restructuring BTA Bank was recapitalized for around $10 bln. Share of [[Samruk-Kazyna]] in the Bank’s equity increased up to 97.3%. Creditors’ share amounted to 2.5%, share of minority shareholders, who held shares prior to 2009–2010 restructuring, amounted to 0.2% of the Bank’s shares in aggregate.
If the legal action is successful, RBS and BTA's other creditors will recoup part of their losses, according to the British expert leading the Kazakh bank's asset recovery process.<ref>[http://www.mediapoint.press.net/business/article.jsp?id=6943071 Taxpayers set for cash boost in banker case] - ''Sam Marsden, Press Association, 21 July 2010</ref>


=== Events of 2013 ===
==Possible sale==


After successful completion of rather difficult and scaled restructuring process BTA Bank focused on restoration of its former market positions and currently is a stable and sustainable financial institution. During the first six months of 2013 BTA Bank received KZT 15.579 bln. of net income (unaudited interim condensed consolidated IFRS statements).
BTA has been reported to be considering an asset sale to strategic investors after facing pressure from the Chairman of the National Bank of Kazakhstan, [[Grigory Marchenko]].


In June 2013 The Board of Directors terminated powers of Mr. Yerik Balapanov who chaired the Bank’s Management Board since April 2012 upon his own initiative. On 5 August 2013 Mr. Kadyrzhan Damitov was appointed as the Chairman of the Management Board of the Bank
Marchenko has pushed for Kazakhstan’s state welfare fund, Samruk-Kazyna, to expedite the sale of majority stakes in banks that it acquired during the course of debt restructuring programs.<ref>[http://www.forexpros.com/news/central-banks/kazakh-c.bank-urges-state-to-sell-bank-assets-140709] - Kazakh c.bank urges state to sell bank assets] - ''Maria Gordeyeva, Reuters, 2 June 2010''</ref>


== [http://www.bta.kz/ru/group/ BTA Group] ==
Anvar Saidenov, who was appointed chief executive of BTA after the Kazakh National Welfare Fund agency Samruk-Kazyna took over, spoke of a possible sale back in 2009 as soon as liquidity increased to more acceptable levels.<ref>[http://businessneweurope.eu/story1544 Interview: Anvar Saidenov, chairman of the management board of BTA Bank] - ''Ben Aris, Business New Europe, 8 April 2009''</ref>


BTA conglomerate is represented in [[Kazakhstan]], [[Ukraine|Ukraine]], [[Russia|Russia]], [[China|China]], [[Turkey|Turkey]], [[Georgia|Georgia]], [[Belarus|Belarus]], [[Armenia|Armenia]].
==See also==
*[[List of banks of Kazakhstan]]


===Strategic partner banks===
==References==
* [http://www.bta-kazan.ru/ Joint-Stock Bank BTA Kazan OJSC (Tatarstan)]
{{reflist}}
* [http://www.bta.kiev.ua/ BTA Bank PJSC (Ukraine) ]
* [http://www.btabank.by/ BTA Bank CJSC (Belarus)]
* [http://www.bta.ge/ BTA Bank JSC (Georgia)]
* [http://www.bta.am/ BTA Bank CJSC (Armenia)]
* [http://www.sekerbank.com.tr/ "Şekerbank T.A.Ş." (Turkey)]


{{KASE companies}}
===Other companies in BTA Group===
* [http://www.ipoteka.kz/ Subsidiary of BTA Bank JSC BTA Ipoteka JSC (Kazakhstan)]
* [http://www.ularumit.kz/ SPF Ular Umit JSC (Kazakhstan)]
* "Zhetysu" Pension Assets Investment Management Organization JSC (Kazakhstan)
* [http://btas.kz Subsidiary of "BTA Bank" JSC BTA Securities" JSC (Kazakhstan)]
* [http://www.leasing.kz/ SK Leasing JSC (Kazakhstan)]
* [http://www.tmls.kz/ Temirleasing JSC (Kazakhstan)]
* [http://www.btalife.kz/ Life Insurance Subsidiary of BTA Bank JSC BTA Zhizn JSC (Kazakhstan)]
* [http://www.btainsurance.kz/ Subsidiary of BTA Bank JSC BTA Insurance JSC (Kazakhstan)]
* [http://www.laic.kz/ Subsidiary of BTA Bank JSC Insurance Company London-Almaty (Kazakhstan)]
* [http://www.oranta.ua/ National Joint-Stock Insurance Company "Oranta" OJSC (Ukraine)]
* [http://www.titan-i.kz/ Titan-Inkasatsia LLP (Kazakhstan)]
* [http://www.alemcard.kz/ Subsidiary of BTA Bank JSC AlemCard LLP (Kazakhstan) ]


== Links ==
{{DEFAULTSORT:Bta Bank}}
* [http://www.bta.kz ] {{ref-ru}}
[[Category:Banks of Kazakhstan]]
* [http://www.bta.kz/kk ] {{ref-kz}}
[[Category:Economy of Kazakhstan]]
* [http://www.bta.kz/en ] {{ref-en}}
[[Category:Companies of Kazakhstan]]

Revision as of 10:43, 1 October 2013

BTA Bank JSC
Company typeJoint-Stock Company
Websitebta.kz, бта.қаз


BTA Bank JSC (Template:КФБ) — is the third largest lender in Kazakhstan by assets (as of August 1, 2013).

Full name — BTA Bank Joint-Stock Company.

Head Office — in Almaty.

Activities

BTA Bank provides a wide range of banking services to the individuals, SMEs, major corporate customers. The Bank’s branch network includes 19 branches and over 170 outlets around Kazakhstan. International representative offices of the Bank are located in Russia, Great Britain and China. BTA’s banking networks are spread around Kazakhstan, Russia, Belarus, Ukraine, Kyrgyzstan, Armenia, Georgia andTurkey.

BTA’s modern technologic infrastructure enables the customers to make most transactions remotely at any convenient time. BTA’s alternative service channels network includes over 880 ATMs, over 1,130 POS-terminal in trade and service outlets, 170 self-service terminals, BTA24 БТА24 round-the-clock online service and SMS-banking.

Financial performance

According to the audited consolidated statements, as of 31 December 2012 the Group’s assets amounted to KZT 1.6 trln., loan portfolio (net) — KZT 645 bln., liabilities — KZT 1.3 trln., equity — KZT 268.6 bln. The Group’s net income for 2012 amounted to KZT 370.3 bln.

According to unaudited interim condensed consolidated IFRS statements as of June 30, 2013 the Group’s assets amounted to KZT 1,621 bln., loan portfolio (net) – KZT 636 bln., liabilities – 1,334 bln., equity – KZT 287.4 bln. Net income of the Group for the first 6 months of 2013 amounted to KZT 15.6 bln.

Shareholders and management

Major shareholder of BTA Bank is the Government of the Republic of Kazakhstan represented by Samruk-Kazyna JSC, which holds 97.3% of common shares in the Bank as the result of 2009–2012 restructurings. BTA Bank’s creditors who converted former liabilities to new notes and shares hold 2.5% of common shares in the Bank. Minority shareholders who held Bank’s shares prior to 2010 restructuring hold in aggregate 0.2% of the Bank’s shares.

Previously 58 % of the Bank’s shares were held by a group of Kazakh businessmen leaded by Mukhtar Ablyazov, another 11% were held by the family of late Yerzhan Tatishev, minority stakes were held by EBRD, IFC and FMO.

Chairman of the Board of Directors of the Bank is Ms. Yelena Bakhmutova Deputy Chairman of the Management Board of Samruk-Kazyna JSC (since February 15, 2013). Chairman of the Management Board — Mr. Kadyrzhan Damitov (since August 5, 2013).

History

First stage

right|thumb|200 px|Bank TuranAlem logo

On October 15 1925 Presidium of Central Council of the Kazakhstan national economy ruled to open the department of Promyshlennyi (Industrial) Bank (Prombank).

During the soviet period the bank has undergone several reorganizations. In 1991 it was re-established as Turanbank, the Kazakh Republican Bank of the State commercial industrial and construction bank. In 1991 Turanbank was established on its basis. In 1992 the bank was renamed to Alem Bank Kazakhstan, the Bank of foreign economic activities of the Republic of Kazakhstan.

On January 15, 1997 Bank TuranAlem Closed Joint-Stock Company was established in accordance with the Decree of the Government of the Republic of Kazakhstan “On reorganization of the Kazakh joint-stock bank Turanbank and joint-stock bank AlemBank Kazakhstan”. On October 1 1998 Bank TuranAlem CJSC was renamed to Bank TuranAlem OJSC and then to Bank TuranAlem JSC.

File:BTA Bank logo en.jpg
BTA Bank JSC logo

In spring 2008 the bank made rebranding, which resulted in the change of the name, logo and corporate identity of the bank. Currently BTA Bank JSC name is not perceived as an acronym anymore.

Events of 2009–2012

In February 2009 Samruk-Kazyna Fund purchased 75.1% of BTA Bank’s shares as part of contingency measures of the Government of the Republic of Kazakhstan. As the result the bank gained additional capital of KZT 251.3 bln.

During 2009-2010 BTA Bank has completed restructuring of its certain financial indebtedness. As the result the bank’s indebtedness decreased from $16.65 bln. to $4.2 bln, Samruk-Kazyna Fund’s share in the capital increased up to 81.48%, both domestic and foreign creditors became the Bank’s shareholders holding 18.5% in the capital.

Due to aggravation of the Bank’s financial status during 2011, relative shortage of liquid assets and negative financial performance, in 2012 BTA Bank started the second restructuring which resulted in cancellation of the Bank’s certain financial indebtedness. In consideration, the creditors received $1,618 cash and $750 mln. New Notes.

BTA Bank also entered into a revised Revocable Committed Trade Finance Facility (RCTFF) with liabilities amounting to around $348 mln. as of the restructuring date. Samruk-Kazyna Fund extended $1.592 bln. loan to BTA Bank JSC subordinated to the New Notes and RCTFF.

During the restructuring BTA Bank was recapitalized for around $10 bln. Share of Samruk-Kazyna in the Bank’s equity increased up to 97.3%. Creditors’ share amounted to 2.5%, share of minority shareholders, who held shares prior to 2009–2010 restructuring, amounted to 0.2% of the Bank’s shares in aggregate.

Events of 2013

After successful completion of rather difficult and scaled restructuring process BTA Bank focused on restoration of its former market positions and currently is a stable and sustainable financial institution. During the first six months of 2013 BTA Bank received KZT 15.579 bln. of net income (unaudited interim condensed consolidated IFRS statements).

In June 2013 The Board of Directors terminated powers of Mr. Yerik Balapanov who chaired the Bank’s Management Board since April 2012 upon his own initiative. On 5 August 2013 Mr. Kadyrzhan Damitov was appointed as the Chairman of the Management Board of the Bank

BTA Group

BTA conglomerate is represented in Kazakhstan, Ukraine, Russia, China, Turkey, Georgia, Belarus, Armenia.

Strategic partner banks

Other companies in BTA Group

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