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BTA Bank to close its representative office in UAE

15.04.2013 15:44:17

Almaty, April 10, 2013 – Today BTA Bank (the Bank) informed that in accordance with Resolution of the Board of Directors dated April 5, 2013, the Bank’s representative office in Dubai (United Arab Emirates, UAE) will be closed.

The representative office was established in 2007 to maintain official contacts with the banks, international financial institutions, regulatory and administration bodies of UAE. However, now the initial idea of the representative office’s creation is exhausted. Decision to close the Bank’s representative office in UAE is taken under the program of the Bank’s organizational structure optimization subject to the strategy of further development of the financial institution and its improved business model.