About BTA Bank JSC (since 2008)

February 2008. "BankTuranAlem" has undergone through registration process and got new name and look, BTA Bank JSC. All renaming and revisualization procedures have been completed during 2008.

2008. BTA Bank is recognized as the largest bank in Kazakhstan by assets, capital and net profit according to the annual TOP 100 World Banks Rating, published by The Banker international business edition.

BTA Bank became one of the fist banks to implement information security management system. The system was engaged in servicing online banking services to legal entities named as "BTA-online", which is recognized by international experts as system with highest level of security.

2008. Ministry of industry and trade recognized BTA Bank as the best in export promotion in Kazakhstan. Bank was awarded with first prize "For export promotion" providing trade finance facilities to export-oriented companies. "Kamkor" special program for receipt of pension payments and state subsidies was launched in 2008.

December 2008. Metallurgic plant in Aktau was opened with production facilities amounting 300 thousands tons. This project run by Caspian Stal LLP was financed by BTA Bank with an amount of USD 47.5 mln. Lime burning workshop, firehouse for two vehicles, indoor stores of discrete materials, areas of for storage and loading of slags were opened.

Within anticrisis measures on 2 Feb 2009 Government of Kazakhstan agreed on proposal from AFN (Agency for regulation of financial market and financial organizations) on buy-out of 75.1 % of shares of BTA Bank by Samruk Kazyna State Welfare Fund. Buy-out was completed through additional issue resulted in additional capital in the amount of 251 319 485 425 tenge.

Throughout 2009 BTA has participated in stabilization programs initiated by Kazakhstan Government within program on real economy support, SME support and agricultural and industrial sectors, refinancing of mortgage credits and financing of construction completion. BTA Banks utilized 36.9 bln. tenge within SME lending program with following tranches: Kazyna- I, Kazyna-II and Kazyna-III.

Starting from 2007 BTA Bank has been participating in special program named "System of competitive grants" by Ministry of Agriculture in partnership with World Bank. Overall, amount of 1.7 bln. tenge was utilized for projects .In 2009 BTA Group successfully completed restructuring of mortgage credits, amount of 37 bln. tenge was utilized , contracts were reconsidered with 10 300 lenders.

120 bln. tenge was allocated for banking sector for mortgage lending restructuring. BTA was given with 37 bln. tenge and 31 % of state funds. The lenders from Almaty, Astana, Aktobe, Karagandam Atyrau, Eastern Kazakhstan represented the most active cohort of lenders.

BTA Bank participate in program named "Financing of construction completion in Astana and Almaty". Amount of 20.4 bln. tenge was allocated on Bank's accounts for following projects:

  • "Grand Astana", Astana- 13 538 mln. tenge;
  • "Satti", "Otandastar", Astana - 1 677 mln. tenge
  • "Тау Самал", Almaty - 4 573 mln. tenge.

23 April 2009. Inquiries from creditors for snap debt payments resulted in BTA Bank's decision to cancel all payments on main debt and payments due after 20 April to ensure equal approach to all creditors.

30 Jun 2009. BTA signed agreement with Agency for Financial Regulation on BTA's debt restructuring.

17 July, 2009. BTA Bank published consolidated financial results approved by Ernst & Young LLP in accordance with IFRS. At the same time, KPMG LLP and Deloitte completed due diligence procedures, which were focused on credit portfolio and other financial investments. Results of these procedures acted as independent confirmation of BTA's financial abilities as of date of decision made on debt restructuring.

3 September 2009. BTA Bank signed an Agreement on Principles (on debt restructuring) Appointment Letter with Credit Committee with following composition: RBS (ABN AMRO Bank N.V.), Commerzbank Atkiengesellschaft, D. E. Shaw group, KfW (representing its offices DEG - Deutsche Investitions-und Entwicklungsgesellschaft mbH and KfW IPEX-Bank), Euler Hermes Kreditversicherungs AG (acting on behalf of Federal Republic of Germany), Export-Import Bank of the United States, Fortis Investment Management UK Limited, Gramercy Advisors LLC, ING Asia Private Bank Limited, JPMorgan Chase Bank, N.A., Mediobanca - Banca di Credito Finanziario S.p.A., Standard Chartered Bank и Wachovia Bank N.A. Deloitte LLP was appointed as financial consultant and Baker&McKenzie as legal advisor.

25 September 2009. Board of Agency for Regulation approved restructuring in BTA's version

16 October 2009. Specialized financial court of Almaty made a decision on full satisfaction of BTA's inquiry on restructuring. In accordance with Law of the Republic of Kazakhstan "On banks and baking activities" the decision on debt restructuring was recognized as reasonable and compliant to all legal requirements.

7 December 2009. The main stage of negotiations with BTA Banks' creditors was completed in London. Principal Commercial Terms Sheet was signed in time period set by AFN.

18 December 2009. Case on debt restructuring initiated with respect to BTA in specialized financial court of Almaty city was recognized as main legal proceeding in Great Britain. This recognition was fully compliant with order of High Court of England and Wales in accordance with Law on cross-border insolvency as stated in Principles of Cross-border Insolvency as of 2006.

17 February 2010. BTA Bank informed that the decision of the specialized financial law-court of Almaty city as of October 16, 2009 concerning the case on BTA Bank restructuring was acknowledged legitimate on the territory of the Ukraine. The corresponding solution was carried out by the Solomenskiy district law-court of Kiev on February 17, 2010 and it had come into law force on February 23, 2010.

2 March 2010. US Court on financial insolvency under jurisdiction of Southern district of state of New York, recognized case on debt restructuring initiated in respect of BTA Bank in specialized financial court of Almaty city as main foreign legal proceeding.

18 April 2010. BTA Bank announced that it has agreed a detailed term sheet with its creditors' steering committee elaborating the terms of its proposed financial restructuring envisaged by the principal commercial terms sheet signed on December 7, 2009 and the amendment to it signed on March 17, 2010.

28 May 2010. BTA Bank announced that its Restructuring Plan relating to KZT 2,442 billion (US$ 16.65 billion) of the Bank's financial indebtedness was today approved at the Claimant's Meeting in Almaty by Claimants holding KZT 2,247.4 billion of the Bank's financial indebtedness (representing 92.03 per cent. of the total financial indebtedness subject to the Restructuring).

9 June 2010. Agency for Regulation and Monitoring of financial markets and financial organizations approved restructuring schedule proposed by BTA Bank by decision №83 as of 4 June 2010.

16 June 2010. BTA Bank is engaged in "Road map of business- 2020" on support of regional entrepreneurs. The main goal of the program is to provide stable growth of regional entrepreneurs and jobs creation. The program comprises of three directions such as support of new business initiatives, bail-out of entrepreneurs and support of export-oriented production facilities.

1 July 2010. Specialized Financial Court of Almaty approved the Restructuring Plan of JSC BTA Bank as set forth in the Information Memorandum dated May 1, 2010 as amended and supplemented on May 19, 2010 and May 27, 2010. On May 28, 2010 Claimants approved the Restructuring Plan by a 92.03% majority at the Claimants' Meeting held in Almaty and it has been also approved by the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Markets and Financial Organizations (FSA) by Resolution № 83 as of June 4, 2010.

19 August 2010. BTA Bank made initial placement of 44 175 794 956 of its common shares issued in line with Restructuring procedure of the Bank. The shares have been issued by way of converting of all series of bonds owned by "National Welfare Fund "Samruk-Kazyna" JSC under two bond programs for the total amount of 671.5 KZT.

19 August 2010. As a result of Extraordinary General Meeting of Shareholders following top managers of BTA Bank were dismissed: Mr. Ulf Wokurka by his own will and Members of the Board of Directors Mr. Ye. Tatishev and Mr. K. Aitekenov. Following new Members of the Board of Directors were elected: representatives of Credit Committee Mr. C. Schoefboeck and Mr. M. Leo Pronk, independent Director Mr. B. Babenov.

1 September 2010.
BTA Bank announced the successful completion of the Restructuring relating to US$ 16.7 billion of the Bank's financial indebtedness (the "Restructuring"). On August 31, 2010, the Specialised Financial Court of Almaty (the "Court") issued an order terminating the Restructuring on the basis of submissions confirming the successful completion of all procedures set out in the Restructuring Plan of the Bank (the "Restructuring Plan"). As part of the Restructuring all of the existing financial indebtedness of the Bank has been cancelled and in consideration thereof the Bank distributed to creditors cash in the amount of US$945 million and the following new debt securities: Senior Notes in the amount of US$2.3 billion, OID Notes in the amount of US$429 million, Subordinated Notes in the amount of US$773 million and Recovery Units in the amount of US$5.2 billion. The Bank also entered into a Revolving Committed Trade Finance Facility Agreement for the amount of US$698 million and issued 44 175 794 956 common shares distributed under the form of Shares or GDRs.

As a result of completed restructuring the financial debt of the Bank has been reduced from approximately US$16.7 billion to approximately US$4.1 billion and its maximum maturity profile was extended from 8 to 20 years. Samruk-Kazyna has increased its majority shareholding position in the Bank with a 81.48% ownership stake, with the Bank's creditors holding in aggregate 18.5%; and minority shareholders who held shares prior to the Restructuring now holding 0.02% in aggregate of the Bank's shares. According to the Bank's unaudited and non-consolidated financial statements prepared in compliance with Kazakh accounting standards, as of August 31, 2010 the Bank's assets totaled KZT1 952.9 billion (including KZT665 billion loans to customers), liabilities totaled KZT1 844.1 billion and its net income for the first 8 months of 2010 amounted to KZT1 090.9 billion.

20 September 2010. BTA Bank informed that the decision of the Specialized financial court of Almaty on October 16, 2009 in regard to debts' restructuring of BTA Bank has been recognized in the Russian Federation. The decision was made by the Arbitration Court of Moscow on Sept. 14, 2010.

b<>5 Oct, 2010 Board of Directors, BTA Bank took decision on main procedures to restructure BTA Insurance, Atlanta Polis and BTA Zabota by merging them into BTA Insurance.

12 Oct, 2010 Board of Directors appointed Mr. Sergei Lavrentiev as Chairman of the Management Board «BTA Insurance».

27 Oct, 2010 Standard&Poor's announced on upgrading of BTA's credit ratings. Long-term ratings in national currency had been upgraded from "D" to "В-" ("B" minus), and short-term rating in national and foreign currency had been upgraded from "D" to "С". Forecast on bank's credit ratings - stable. At the same time BTA was awarded with "kzВВ-" rating according to national scale ("kzВB" minus).

8 Nov, 2010 BTA announced interim results of implementation of "Road business map -2020" state programme. As a result of first four and half months of programme announcement BTA Bank received 147 applications from entrepreneurs amounting 40.1 bln. tenge. 66 applications amounting 16.6 bln. tenge were received per first direction called Support on new projects. 76 applications on (bail-out of entrepreneurs) - 76 applications totaling 22.8 bln. tenge, (support of export-oriented companies) - 5 applications totaling 742 mln. tenge.

45. 16% of all funds were allocated to companies from services sector. Rest of funds were allocated for companies from production sector (38,71%), agriculture (12,90%) manufacturing sector (3,23%). Following regions received projects within the program: Aktobe oblast (21.4%), Karaganda (14.3%), Western Kazakhstan oblast (14.3%), and Astana with 21.4%.

18 Nov 2010 "Expert RA Kazakhstan" recognized successful results of BTA top management in debt restructuring process handling "For successful restructuring" award. Award ceremony took place in Astana during II "Expert-100 Kazakhstan" economic forum.

10 Dec 2010 Fitch Ratings international rating agency raised its long-term foreign currency Issuer Default Ratings (IDRs) 'B-' with Stable Outlooks.

Short-term national and foreign currency IDR: upgraded to 'B' from 'RD', Individual Rating: upgraded to 'E' from 'F', Support Rating: affirmed at '5'.

14 Dec , 2010 Business Resource media holding issued rating of leading bankers and businessmen of 2010. BTA Bank's Chairman, Anvar Saidenov was recognized as "Banker of the Year". Leaders of the rating were found out through two-staged public survey. First stage of the survey was conducted among 22 journalists and 17 local business press. Second stage was conducted through online survey at www.profinance.kz. Website users were asked to vote for one of five bankers and one of five businessmen selected by media.

21 Dec, 2010 BTA Bank was rated with В+ credit rating by "Expert RA Kazakhstan" rating agency. Reg S obligations were rated with of В+.

22 Dec, 2010 BTA Bank and "KazExpoGarant" Export-Credit insurance corporation signed agreement on conditional deposits to support Kazakhstani export oriented enterprises of manufacturing industry sector.

This program was developed in 2010 in pursue of implementation of state program on enforced industrial-innovation development for 2010-2014. The program states, stimulation of foreign customer demand on Kazakhstani products by offering trade finance services on favorable terms, as one of its main program objectives.

24 Dec, 2010 BTA was recognized as "Newsmaker" by "Interfax-Kazakhstan 2010" with high percentage of mentioning in daily news broadcasted by Interfax throughout 2010, among financial institutions of domestic banking sector.


January 5, 2011 - BTA Bank made the first interest payment for the total amount of USD165mln (KZT24 349mln) under new bonds.

These bonds have been issued during restructuring which resulted in cancellation of all previously issued bonds and other liabilities of the Bank, cash payment of USD945 mln., issue of new debt securities and shares and entering into a Revolving Committed Trade Finance Facility.

Mr. Anvar Saidenov, Chairman of the Management Board believes that payment of interest under new bonds is a positive sign for creditors, since this repayment is the first one after the completion of the restructuring: "I think that most of our creditors will positively respond to message on repayment of first coupon under new Bank's bonds. For them such repayment means that BTA continues servicing its debts that was suspended for the period of restructuring and that all events envisaged by the Restructuring Plan are being realized in full and in strict compliance with the schedule".

January 6, 2011 - BTA Bank announced that on 6 January 2011, the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court") granted BTA's motion to close BTA's proceedings under chapter 15 of the United States Bankruptcy Code ("Chapter 15") and granted a permanent injunction against actions in the U.S. which violate the terms of the restructuring plan approved by the Specialised Financial Court of Almaty in the Bank's restructuring proceedings in Kazakhstan.

Thus, Injunction issued by the Bankruptcy Court on 6 January and injunction and the order of the High Court of England and Wales obtained by BTA on 16 August 2010, BTA's restructuring plan has now obtained the permanent protection of the courts in both the U.K. and the United States with the result that actions inconsistent with the plan are now barred in both countries..

February 11, 2011 - BTA Bank announced results of the Bank's Extraordinary General Meeting of Shareholders held on February 9, 2011 in Almaty.

The following resolutions were adopted:

  1. To include ordinary shares of the Bank (national identification number - KZ1C34920013) to the official listing of JSC "Kazakhstan Stock Exchange" (KASE).
  2. To include to the official listing of Luxembourg Stock Exchange Global Depository Receipts of the Bank (International Securities Identification Number (ISIN) - US05574Y2090 and US05574Y1001) issued in the ratio of 1:500 to the common shares of the Bank in accordance with the restructuring plan of the Bank.

February 17, 2011 - BTA has announced interim results on the work within the Programme on support of Kazakhstani export oriented enterprises of manufacturing industry sector (further-Programme), jointly realized with «KazExportGarant» Export-Credit Corporation (further - «KazExportGarant»). Starting from the launch of the program in December, 2010 BTA Bank had provided support of four export deals totaling USD 2.5 mln. arranged between Kazakhstani export oriented enterprises of manufacturing industry sector and international partners.

February 24, 2011 - BTA Bankis announced that the process of listing all of the securities issued in its restructuring has now been completed.

The Tenge-denominated New Notes of the Bank were listed on the Kazakhstan Stock Exchange effective from 27 December 2010.

The GDRs and non-Tenge New Notes were listed on the official list of the Luxembourg Stock Exchange on 22 February 2011 and admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange effective from 23 February 2011


March 28, 2011 - Euromoney international business edition recognized BTA restructuring deal as «Best 2010 Deal in Central and Eastern Europe». The edition notes that this deal is the largest restructuring deal in corporate business of emerging markets. Euromoney comments that «only few 2010 deals maybe comparable with BTA's deal on 16.7 bln. USD completed in Sep 2010 just six months after Bank was taken over by "Samruk Kazyna" State welfare fund. List of nominees include VTB Russia with is deal amounting 1 bln. reminbi (151.8 mln. USD) Lukoil International Finance with its obligations amounting 1.5 bln. USD.

April 7, 2011 - BTA Bank announced the repayment of the first installment of USD 175 mln of Legacy Loan under the Revolving Committed Trade Finance Facility Agreement (further - "RCTFF"). Payment of the first installment of Legacy Loan was made on March 31, 2011 in full amount and in accordance with the repayment terms. This enables the Bank to utilize repaid amounts through issuance of trade finance instruments and attract funding for financing of export and import contracts under these financial instruments.

April 14, 2011 - As a result of General Meeting of Shareholders which was held on April 14, 2011 in Almaty a decision was made to merge «BTA Kazakhstan» Pension Fund and «Zhetisy», company running investment management of pension assets with «UlarUmit» Pension Fund.

Joining of «BTA Kazakhstan» Pension Fund and «Zhetisy» Management Company with «UlarUmit» Pension Fund will be completed in two stages. At first stage - «BTA Kazakhstan» Pension Fund will be joined with «UlarUmit» Pension Fund, at second stage - «Zhetisy» Management Company will be joined with «UlarUmit» Pension Fund.

Shareholders approved reorganization plan of pension assets within BTA Group, which includes procedure, terms and prices of shares of «BTA Kazakhstan» Pension Fund, «Zhetisy» Management Company and «UlarUmit» Pension Fund.

Reorganization of pension assets within BTA Group will result in the merger of investment portfolios, equity capital and customer bases. Market share of reorganized pension fund is expected to be increased up to 20 % and to position fund on the 2nd place by size of pension assets. Reorganization will also result in increase of customer base reaching 1 866 thousand of depositors.

May 12, 2011 - BTA Bank announced its 2010 financial results on the basis of audited consolidated financial statements in accordance with IFRS. One of the main achievements of the Group for the current reporting period along with successful completion of the restructuring process, the Bank has reported net income in the amount of 986 265 mln. tenge (USD 6 693 mln), as compared with net loss in 2009 for the amount of 1 114 534 mln. tenge (USD 7 507 mln). Income received in 2010 was mainly a result of gain from the restructuring process amounting to 853 914 mln. tenge (USD 5 789 mln).

Based on the 2010 results the Bank holds leading positions in local banking sector of the RK: 3rd place by size of assets (1 994 bln. tenge, equivalent to USD 13 519 mln), 4th place by size of corporate deposit portfolio (419 bln. tenge, equivalent to USD 2 841 mln) and retail deposit portfolio (255 bln. tenge, equivalent to USD 1 726 mln). As of January 1, 2011 total deposit portfolio of the Bank amounted to 674 bln. tenge, with 14.6% increase as compared with January 1, 2010 numbers.

Changing dynamics of the Bank's deposit portfolio is characterized by stable growth, which reflects the increase of public trust to the Bank. The Bank's funding strategy is focused on internal market and provides active growth of deposit base by means of attracting retail and corporate deposits. In the end of 2010 the Bank's market share in retail deposits was 11.4% as compared to 8% in the beginning of 2010. The Bank demonstrated the highest growth of its deposit base (+62,2%) while market growth demonstrated only 16% of the overall growth of customer deposits.

May 17, 2011 - Reorganization of APF «UlarUmit» through joining with APF «BTA Kazakhstan» resulted in market share increase up to 20% in pension sector of financial services market within the country.

As a result of merger of two large pension funds, APF "UlarUmit" has got number of advantages which will significantly impact on its further development. Thus, enlarged Fund holds 2nd position by size of pension assets (more than 441 bln. tenge) and by number of customers (more than 1 866 thousand people). The Fund's equity capital exceeds 13 bln. tenge.

May 18, 2011 - BTA Bank and its consultant Ogilvy Public Relations Worldwide received Best Financial Communications Award at the EMEA by SABRE. Prestigious SABRE award ceremony was held in Prague this year.

"Working with BTA Bank on an international recognized restructuring campaign has been immensely rewarding. That Ogilvy and BTA have won the ‘Financial Communications Award at the EMEA' SABRE's is further testament to the creativity and effectiveness of a truly unique campaign", - Mr. Owen Nanlohy, Consultant, Ogilvy Public Relations Worldwide, commented on the award.

SABRE Awards (Superior Achievement in Branding and Reputation) - international competition which celebrates PR campaigns that demonstrate the highest levels of branding and reputation management. It was established by international PR edition - The Holmes Report.

Over the past decade, the competition - which includes separate programs in North America, the EMEA region and Asia-Pacific - has grown to become the largest PR awards competition in the world, attracting more than 4,000 entries from more than 40 countries in 2011.

May 18, 2011 - BTA Bank has issued committal proceedings in the English High Court against its former Chairman, Mukhtar Ablyazov. By those proceedings, the Bank is seeking to have Mr Ablyazov committed to prison for what the Bank considers to be numerous breaches of injunction orders made against him in the court actions by which the Bank is claiming over US$4 billion in compensation.

The Bank is concerned that Mr Ablyazov has not complied with numerous orders requiring full disclosure of all his assets, underscored by the Bank's recent discovery of over 600 companies which were not properly disclosed. The Bank has also discovered evidence of multiple dealings in assets that it considers were prohibited by the court's injunctions.

In August 2010 the UK court took the rare decision to appoint KPMG as receivers over Mr Ablyazov's assets because the judge did not trust Mr Ablyazov to comply with previous freezing orders, and to prevent dissipation of his assets.

The Bank's intentions in seeking to have Mr Ablyazov committed to prison are to persuade him to comply with the court's orders and unwind the improper transactions that he has carried out, as well as to ensure that all improper conduct is appropriately sanctioned.

May 25, 2011 - Moody's Investors Service upgraded the long-term deposit ratings of BTA Bank in local and foreign currency to B3 from Caa3. The bank's financial strength rating has been confirmed on E level, which maps to Caa2 on the long-term rating scale.

Concurrently, the bank's foreign currency senior unsecured and subordinated notes issued in the course of the restructuring have been assigned long-term debt ratings of Caa2 and Caa3, respectively.

BTA Bank's financial strength rating carries a stable outlook. The outlook on BTA Bank's long-term debt and deposit ratings is developing.

This rating action of the agency concludes the review of BTA Bank's ratings initiated by Moody's on 30 September 2010.

June 14, 2011 - BTA Bank was awarded with "CIS Legal Department of the Year: Best Support of Restructuring and Work with Distressed Assets" prize at the award ceremony which was held during Eurolawyer Forum 2011, on June 2, London.

Mr. Francis Fitzherbert-Brockholes, Partner, White & Case, collected the award on behalf of BTA. White & Case offers legal and consulting services to BTA on restructuring.

"The ground-breaking restructuring of BTA was one of the highest-profile restructurings in the region, and the judges ultimately recognized this in resolving to award BTA", - Mr. Graham Conlon, Partner, CMS Cameron McKenna - General sponsor of the Forum, commented.

Eurolawyer is an annual forum gathering leading lawyers from Europe and CIS region. Eurolawyer Awards is a competition of leading corporate legal departments from these regions, which demonstrate high level of international legal practice in different areas.

June 29, 2011 - As part of the litigation being pursued by JSC BTA Bank to recover compensation for the losses suffered under its previous management, the High Court in England today has sentenced Syrym Shalabayev, the brother-in-law and close associate of Mukhtar Ablyazov, to two 18-month custodial sentences and one six-month custodial sentence, all to run concurrently. Court decision was carried out under current litigation process initiated by BTA Bank and aimed at asset recovery and compensation of loss of the Bank as a result of actions by former management.

In line with its contractual obligation to creditors as part of the Bank's restructuring agreement, the Bank remains determined to seek redress against those who have been instrumental in the losses that it has suffered from alleged fraud, as well as those who are assisting in the concealment of monies or assets inappropriately taken from the Bank. Where necessary, this will include steps such as applications to commit to prison those who do not comply with the obligations imposed upon them by the English High Court to assist the Bank with these efforts.

The sentencing by the English High Court is the latest in a series of successful legal steps to recover the assets that the Bank alleges have been misappropriated.

July 1, 2011 - BTA Bank announced on Resolutions taken by the shareholders during Annual general meeting held on June 30, 2011 in Almaty upon Bank's 2010 performance. During open voting Bank's shareholders have taken the following resolutions:

  1. to approve audited annual consolidated financial statements of the Bank for 2010;
  2. to increase value of Bank's reserve capital by 95 111 231 th. KZT up to 137 457 656 th. KZT and not to pay dividends under Bank's common shares upon 2010 performance;
  3. to approve Report of the Board of Directors of the Bank for 2010 in the aggregate;
  4. to appoint Ernst & Young LLP as the Audit company to execute audit of consolidated financial statements of the Bank for 2011;
  5. to approve amendments into the "Rules on Redemption of Placed Shares of BTA Bank JSC" as approved by Minutes of the General Meeting of Shareholders of Bank TuranAlem JSC № 45 dated February 22, 2007;
  6. to take notice of information on shareholders' requests to the activities of the Bank and its officers and results of their consideration in 2010;
  7. to take notice of information on the value and structure of remuneration of the members of the Management Board and Board of Directors in 2010;
  8. to terminate powers of Mr. Karibzhanov A.T. and Mr. Iskandirov A.M as the members of the Board of Directors, representing NWF Samruk-Kazyna JSC and elect Mr. Baisynov M.B. and Ms. Aldambergen A.U. as members of the Board of Directors representing NWF Samruk-Kazyna JSC.

July 1, 2011 - BTA Bank made the second interest payment for the total amount of KZT 24,267 mln (USD166.4 mln) under New Notes in accordance with payment schedule.

September 30, 2011 - BTA Bank repaid USD 175 mln. of the second tranche under Revocable Committed Trade Finance Facility (RCTFF).

December 19, 2011 - the Board of Directors of BTA Bank taking into consideration negative equity of the Bank of USD 2.2 bln. and in order to ensure further functioning of the financial institution as a going concern, decided to convene general shareholders' meeting to consider the issue on restructuring of a certain part of the Bank's financial indebtedness to the creditors. Restructuring is an urgently needed measure which if timely taken should ensure further normal functioning of the Bank, strengthen its financial condition and potentially restore its position in the market.

Certificate of State Re-registration of Legal Entity, issued by the RK Ministry of Justice on 24 January, 2008