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BTA Bank sponsored Kazakh bankers to visit Kiev for exchange of experience

26.03.2008 / Press-service

On March 23, financiers from Kazakhstan completed a 3-day visit to Kiev sponsored by BTA Bank (Ukraine). The Kazakh delegation comprised of Deputy Chair of the National Bank of Kazakhstan Medet Sartbayev, Director of the Bank Oversight Department of the Financial Supervision Agency Mukhtar Bubeyev, Managing Director of the Association of Financers of Kazakhstan Askar Urtembayev and Advisor of the Eurasian Club of Bankers Dosym Satpayev.

This visit of high-profile financiers has testified that a single financial space of BTA group between Kazakhstan and Ukraine enables a high-level exchange of experience between representatives from the two countries.

Financiers from Kazakhstan have delivered speeches at the XIV Congress of Bankers of Ukraine and then met with prominent financial journalists of that country. Delegation members have described steps taken by the regulators of Kazakhstan to mitigate a negative influence of the global crisis on the national economy in general and the banking system in particular.

"To provide Kazakh banks with short-term liquid assets in the national currency, the National Bank of Kazakhstan has increased reverse repo and embarked on currency swaps on security of foreign currency and balances of correspondent accounts of banks with the National Bank of Kazakhstan in freely convertible currency," said Medet Sartbayev.

"The banking system of Kazakhstan has been completely stabilized thus far. The international reserves increased in the first half of March 2008," says Askar Urtembayev.

The financiers have indicated that Ukraine's economy was insignificantly exposed to the global crunch due to its low integration into the world financial system. "The share of foreign borrowings of banks of Kazakhstan is more than three times more than that of Ukraine," opines Dosym Satpayev.

"We are glad to facilitate a constructive dialogue between financiers from Kazakhstan and Ukraine. This kind of exchange of experience can be a significant support to the development of the banking systems of the two countries. Arrangement of such events is a contribution of BTA to the creation of a single financial space between our countries," says chief Executive Officer of BTA Bank (Ukraine) Zhomart Yertayev.

BTA Bank (Ukraine) set up in 1992 is a strategic partner of Kazakhstan's BTA Bank JSC.

BTA Bank JSC is among biggest banks in the CIS with an extensive banking chain.

BTA Bank operating in the CIS and non-CIS countries is expanding into the Commonwealth. Its strategic bank partners cover Ukraine, four regions in Russia, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA Bank also runs its representative offices in Russia, Ukraine, China and the United Arab Emirates.

In Kazakhstan, BTA Bank’s chain embraces 22 branches and 290 cash settlement centers.Bank TuranAlem holds a number of industry awards. In 2006 and 2007 reputed Itogi magazine named Bank TuranAlem The Best CIS Bank of the Year; Euromoney declared BTA The Best Bank in Central Asia of the Year. BTA also appeared in The Banker’s TOP 300 and ranked the third in its Highest Movers rating. In 2007 the Europe Business Assembly (EBA, Oxford, UK) awarded Bank TuranAlem JSC (BTA) the "Best Enterprise of Europe" in the Eurasian banking sector.