Standard and Poor’s confirmed BTA’s rating of BB/Stable/B04.07.2006 / Press-service
International rating agency Standard&Poor’s confirmed Bank TuranAlem’s rating of BB/Stable/B in relation to agreement of subsidiary company
JSC "TuranAlem Securities" is a subsidiary company of BTA signed an agreement with representatives of Sekerbank S.A. on purchase of 33.98% of shares from shareholders group of Bank TuranAlem.
It is expected that the ownership transaction will be completed by 31 October. The sum of the purchase made USD 256 million. 3.4% of acquired shares will be paid for by TuranAlem Securities from own resources.
The purchase of shares was realized for investing of non-banking income. BTA shareholders consider Turkish banking system and business community to be of strategic interest and allow diversifying income sources. Entrance to Turkish financial market is timely for Kazakhstan as well.