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From Ineximbank to BTA Bank: Ascent

25.03.2008 / Press-service

A new era opens up for Ineximbank and its clients now gain new prospects and opportunities.

First of all, we should get used to a new name of this respected and influential financial institution as rebranding has been jumpstarted in Ineximbank and its major stockholder, Bank TuranAlem. This biggest bank in Kazakhstan and one of leading players in the CIS changed its name to brief and succinct BTA Bank in early 2008. New owners of Ineximbank decided to rename it at a recent meeting of shareholders. The decision was made in line with the general rebranding and renaming concept of BTA Group.

Rebranding for Ineximbank is not merely a change of its name and corporate identity, but it is a new strategy with leadership, expert knowledge and innovation as its core.

The new name of Ineximbank in the Russian language is now Закрытое Акционерное Общество "БТА Банк", in Kyrgyz - "БТА Банкы" Жабык Акционердик Коому, and in English - "ВТА Bank" Closed Stock Company.

- This step does not imply a liquidation of a former brand of Ineximbank, says Senior Vice CEO of the Bank Ruslan Boronbayev. – Rebranding demonstrates evolution of the old brand to a new one. We will always be grateful to the former brand as by dint of it the Bank has won hearts of general public and partners. But we are convinced that being a part of BTA financial group, with the new brand we will be able to attain more success on the world market providing people in Kyrgyzstan with services in compliance with international standards.

Moreover, the Bank has replaced its logo. The new one is an overlapping of two squares of scarlet and pistachio green against a white background. These colors stand for key qualities of the Bank and its approach to clients and partners.

Ineximbank assets soared by 154% in 2007 and as of January 1, 2008 topped 5.5 billion som (USD156.2 million). Its loan portfolio jumped by 195% to reach 3,368.455 million som (USD94.889 million). In terms of these financial highlights Ineximbank has been a leading bank in Kyrgyzstan for the third year in a row.

Its deposits as of January 1, 2008 totaled 3.4 billion som (USD95.9 million), a swell of 2.2 times from 2006. Ineximbank registered capital increased by 320 million som (USD9.1 million) and made 800 million sons (USD22.5 million) in early 2008. Thus, the bank boasted the highest performance in the banking system of Kyrgyzstan. Total capital of the Bank in 2007 stood at nearly 1 billion som, net income reached 116.2 million som (USD3.3 million), a rise of 133%.

During 2007 Ineximbank launched 7 branches and 27 cash settlement centers to operate a total of 14 branches and 54 settlement centers.