BTA Bank
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Native name
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БТА Банкі |
|---|---|
| Industry | Financial services |
| Founded | 1991 |
| Headquarters | Almaty, Kazakhstan |
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Key people
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Yelena Bakhmutova (Chairman of the board of directors), Kadyrzhan Damitov (Chairman of the Management Board) |
| Services | All types of banking activities |
| Profit | KZT 15.6 bln. (30 June 2013) |
| Total assets | KZT 1,621 bln. |
| Total equity | KZT 287.4 bln. (30 June 2013) |
| Website |
bta |
BTA Bank (Kazakh: БТА) (BTA Bank Joint-Stock Company in full) is a Kazakhstan bank with headquarters in Almaty. As of 2013 it was the third largest lender by assets.
On 15 October 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 15 January 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 1 October 1998 Bank TuranAlem CJSC was renamed to Bank TuranAlem OJSC and then to Bank TuranAlem JSC.
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.
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.
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