"BTA Bank" JSC wins another industry award26.02.2008 / Press-service
"BTA Bank" JSC (BTA) was awarded another Best Deal 2007. This time, Trade Finance and Global Trade Review had a shared vision on BTA deal to finance a cement plant of BI Cement in Akmola Oblast. "BTA Bank" JSC has arranged the deal in tandem with Fortis Bank NV-SA, Belgium.
Key criteria for the Best Deal 2007 award:
- a 10-year import financing of Czech equipment for the cement plant covered by EGAP, and an 8-year trade financing of an advance payment and local expenses on attractive terms;
- a flexible financing structure enabling to provide a client with a reasonably long grace period and an opportunity to plough back the interest over a construction period;
- BTA arranged the financing within financial leasing with optimum taxation.
"We have expended considerable amount of time to find the most optimum financing structure that meets all demands of the client. Out trade finance deals have been included into the global best deals for a third year in a row and obtained top industry awards owing to their structure. This proves our ad hoc approach to the structured trade finance as a business direction," says Timur Sabyrbaev, Head of BTA Bank International Relations and Trade Finance Division.
The cement plant construction is a breakthrough project in Kazakhstan. Through financing of such projects "BTA Bank" JSC makes a significant contribution to the 2003-15 Strategy of Industrial and Innovation Development of Kazakhstan. The dry mix process plant will harness PSP Engineering AS equipment. The new environmentally friendly facility with 500 new jobs will comply with high international standards.
"BTA Bank" JSC is among biggest banks in the CIS with an extensive banking chain. According to tentative data, as of January 1, 2008 BTA consolidated assets totaled USD 25.5 billion, a 56% increase from early 2007. Its capital made USD 3.8 billion. Consolidated net income reached USD 580 million, a two-fold rise from 2006.