BTA Bank obtained permission from the National Bank for reorganization of pension assets03.05.2011
Almaty, May 3, 2011 – Today, JSC «BTA Bank» announced that according to the resolution №42 of the Board of the National Bank dated April 29, 2011 decision was made on issuance of permission to JSC APF «Ular Umit» on its reorganization through joining procedure with APF «BTA Kazakhstan»
According to the resolution of shareholders, APF «BTA Kazakhstan» was merged with JSC APF «Ular Umit», as JSC APF «Ular Umit» is larger in size, more stable, meets liquidity requirements, possesses significant growth potential as well as the future strengthening of financial positions perspective. The process of transfer of pension assets was completed on May 3, 2011 and since then, depositors of APF «BTA Kazakhstan», subsidiary of «BTA Bank», can receive whole range of pension services at JSC APF «Ular Umit».
Market share by size of assets of JSC APF «Ular Umit» is expected to reach 20% with customer base increasing up to 1 866 thousand of depositors and 140 representative offices operating across the country.
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