BTA will increase its share in Slavinvestbank up to 51%18.09.2006
By the end of 2007, Bank TuranAlem plans to increase its share in shareholder's equity of "Slavinvestbank" LLP up to 51%.
At present the share of JSC "Bank TuranAlem" is 15.63%. Purchase of shares is planned as a part of new development strategy of JSC "Bank TuranAlem", in the medium- and long-term outlook.
"After acquisition of the banks TuranAlem will consolidate the management. BTA's current system of risk management and decision-making, standards of corporate and retail customer service will be introduced; number of branches and offices will be increased. These will be principal channels of BTA customer service. It is planned to expand their product range. Main efforts will be bent to key client segments: large corporations, SMEs and individuals." – commented Saduakas Mameshtegi the plans on purchase of shares in Temirbank (Kazakhstan) and Slavinvestbank (Russia). - "BTA will promote its products through these banks, taking into account regional peculiarities and market conditions, thus expanding its presence in CIS"
Chairman of "Slavinvestbank" LLP, Arthur Trofimov considers "…the deal will give the bank new development prospects". "Main advantages of Bank TuranAlem becoming strategic investor of Slavinvestbank are the increase of capital, decrease of resource costs, strengthening of bank's market position" – said Mr.Trofimov.
JSC "Bank TuranAlem" is the core of the financial institutions group, present in all segments of the market. BTA is the system-making bank of Kazakhstan and the leader in creating a banking network in the CIS countries. As of September 1, 2006, BTA's assets exceeded USD 10.7 bn, while its total capital exceeded USD 1.7 bn. Among Kazakhstan's second tier banks, JSC "Bank TuranAlem" confidently holds the leading position in trade financing, SME lending and mortgage loans. In 2008 BTA plans to become one of the largest private banks of CIS.
New strategy of Bank TuranAlem was adopted at the recent Board of Directors meeting. Strategic objectives of the Bank for 2006-2015 include taking the leading positions in Kazakhstan and other CIS markets in corporate and retail banking, SME and increasing of BTA shares in Kazakhstan market at least up to 25%, at least 2%in Russia, and at least 5% in other countries of presence. It is planned to increase the assets up to $25 bn USD till 2010, and up to 50 bn USD till 2015.
As a result of new strategy realization, Bank TuranAlem has to become the largest universal commercial bank of CIS. BTA presence in countries, with which Kazakhstan has lasting economic relations, is a part of the strategy.
"SLAVINVESTBANK" LLP is universal bank, supporting corporate business, private enterprises and offering retail services. Having long-time experience of successful activity and striving for leading positions in Russian financial market, the Bank guarantees qualified banking service of international standards.The Bankers' Almanac, on-line world banking catalogue, states that on 06.02.2006 "Slavinvestbank" LLP holds 79th place in Russia and 2494 in the world.
According to Russian accounting standards, as of 01.09.2006 Slavinvestbank's capital equity capital is 2,024,259 thousand rubles, assets - 22,247,951 thousand rubles.
In June 2005, Moody's Investors Service, rating agency confirmed long-term rating of "В1" for bank's deposits in foreign currency, short-term rating Not-Prime, and "Е+" for financial stability. Rating outlook – Stable. In December 2005, Moody's Interfax Rating Agency conferred A2.ru rating according to national scale and Moody's Investors Service confirmed the rating according to international rating scale.