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BTA Management Meets Control Committee

10.03.2009 /  Press-service 

Senior management of JSC BTA Bank, including Chairman of the Board of Directors Arman Dunayev, met yesterday with representatives of the committee charged with overseeing the use of public funds that were made available under the government’s anti-crisis programme.

The public committee was set up in January 2009 on the initiative of the Nur Otan party with the mandate to ensure maximum transparency for BTA Bank’s participation in the implementation of the government’s anti-crisis policies. The committee is made up of Nur Otan members, members of the Parliament and public representatives.

"Efforts are now underway to prioritise things that need to be done under the anti-crisis programme and to make sure they are done properly", pointed Nur Otan’s Deputy Chairman Darkhan Kaletayev in his opening to the meeting.

The committee’s chairwoman and Majilis member Gulzhana Karagusova said that the committee’s task was "to see how efficient the money that has reached those who need it is".

In his turn, Mr. Dunayev informed the meeting that that bank was active in all economic stabilisation programmes by the government, including the ones designed to lend support to the nation’s small and medium-sized enterprises (SMEs), to refinance mortgages, provide funding to the farming sector, and complete residential construction projects in Almaty and Astana, respectively.


According to BTA Bank’s Deputy Chairman of the Management Board Genrig Kholodzinsky, a total of KZT 22 billion, or 18.8% of the government’s entire KZT 117 billion SME support package, had been received by the bank for SME funding purposes under a general agreement among the Samruk-Kazyna National Welfare Fund, the Damu Enterprise Development Fund and BTA Bank.

From February 20 through March 5, BTA issued KZT 250,7 million in various loans to SMEs using Samruk-Kazyna funds. Projects worth in excess of another KZT 5 billion are being reviewed. BTA plans to have issued as much as KZT 11-12 billion before April 1 and draw down its entire allotment by May 15.

"Under this SME programme, BTA will focus on SME lending that is more diversified geographically. Also, a full third of the money made available to us will be used to roll over existing loans", added Mr. Kholodzinsky.

Another member of the committee, Mr. Asylbek Kozhakhmetov, who is chairman of the Shanyrak association, which oversees the use of funds under the government’s mortgage refinancing programme, raised the question on BTA’s participation in it.

In response, BTA’s Managing Director and member of the Management Board Ms. Kunsulu Kapbasova pointed out that on February 25, Samruk-Kazyna and the bank signed an agreement on BTA’s participation in the programme, under which existing mortgages could now be refinanced at a lower rate (11% for regular borrowers and 9% for social strata of the population).

The measure will help reduce mortgage costs for borrowers meeting certain criteria (among which are single residence with the maximum area of 120 sq. m and a positive credit history). "Samruk-Kazyna has made available a total of KZT 40 billion, with KZT 28 billion and KZT 12 billion for BTA Bank and BTA Ipoteka, respectively. We estimate that about 11,000 borrowers will qualify", said Ms. Kapbasova.

Also, according to Ms. Kapbasova, BTA Bank welcomed refinancing applications ahead of the programme’s official opening date of March 2, with 3,700 applications worth some KZT 15 billion received by March 1. These and other applications are being processed now, along with their requisite documentation.

Chairwoman Karagusova closed the meeting by thanking the bank’s management for their cooperation and pointing out that the committee was "satisfied that the money is in the bank and is being used as it should be. In BTA’s case, we see that they have been refinancing SMEs since March 4 indeed".

The meeting’s participants agreed to meet again on a regular basis.

BTA Group is a leading banking network in the CIS.

The network of BTA’s partner banks extends to Russia, Ukraine, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA’s representative offices operate in Russia, Ukraine, China, UAE and the UK.

BTA Bank has one of the largest branch networks in Kazakhstan (22 branches and 279 service locations) along with an extensive chain of ATMs (787) and self-service terminals (160). BTA Bank serves about 1.3 million retail and 150,000 corporate clients.

BTA Group – is a leading banking network within the CIS.


For media contacts:
Kalamkas Tuleshova
BTA Bank,
Brand Office/Public Relations Department,
International Activity
Tel.: +7 (727) 266-47-99
Fax. +7 (727) 250-12-55
Email: tuleshova@bta.kz