BTA Bank
BTA Bank to increase stake in Belarusian subsidiary
(SRI) - BTA, Kazakhstan’s number one bank, said on Tuesday that it planned to increase its stake in BTA Belarus from current 48.94 percent to 99.29 percent, according to Interfax.
According to the bank’s officials, Belarus’ location, healthy economic environment and active consumer market make it one of the most attractive markets for expansion. Furthermore, Belarus has launched a program to open its borders for foreign investment and privatize state owned assets.
This acqusition will allow BTA to consolidate the Belarusian bank as its subsidiary and pursue a strategy of bringing its market share in Belarus to 5 percent.
BTA Bank to get USD 2.3 billion capital injection from state
(SRI) - Two days after the Kazakh government announced its intention to take stakes in the country’s most important banks, BTA Bank, the country’s largest bank said that it will receive a cash injection of up to USD 2.3 billion from the government.
USDA increases loan facility for Kazakh BTA Bank
(SRI) - The United States Department of Agriculture (USDA) has more than doubled the direct loan facility extended to BTA Bank, Kazakhstan’s second largest, from USD 55 million to USD 120 million, the bank said in a press release on Thursday.
BTA Bank’s assets up almost 10 percent in H1 2008
(SRI) - BTA Bank, Kazakhstan’s second largest bank, reported consolidated assets of USD 27.8 billion as of July 1, 2008, an increase of 9.5 percent from the beginning of the year, Interfax reported.
Kazakhstan’s BTA Bank increases stake in Russian subsidiary
BTA Bank, the second largest Kazakh bank and fifth largest in the CIS, has increased its share in registered capital of Russia’s BTA Bank LLC (formerly known as Slavinvestbank) from 15.6% to 52.84%, BTA Bank said in a statement.
BTA Bank repaid a $63 million Islamic loan
BTA Bank, Kazakhstan’s second largest bank, has repaid a $63 million second tranche of an Islamic loan, according to the schedule, the bank said in a press release.
BTA Bank assets up 11 percent in H1
Assets of Kazakhstan’s second largest bank BTA Bank totaled KZT 2,939.7 billion (USD 24.5 billion) as of July 1, 2008, an 11 percent increase from a year ago, Interfax reported citing the bank’s unaudited unconsolidated financial statements.
Net income decreased almost 20 percent to KZT 16.117 billion (USD 134 million) from the same period last year, according to Interfax.
Kazakhstan Business and Economy Roundup - July 10, 2008
Recessionary trends still continue in the Kazakh banking sector
(Interfax) - Ekaterina Trofimova, a credit analyst of Standard & Poor’s international rating agency, says that the situation in Kazakhstan is not changing to the better and may even aggravate.
Uzbekistan and Kazakhstan reach water agreement, discuss new gas deal
(Turkish Weekly) - An important agreement covering the release of water on the Syrdarya River has been reached.
Kazakhstan Temir Zholy JSC summed up half year results
(Kazinform) - “Income for the first six months of 2008 was KZT 208.6 bln which is 16% higher than the last year. Cargo turnover for the first half-year has increased 10.2%.”
Fitch affirms BTA Bank’s ratings; highlights downward pressure on individual rating (SRI)
Fitch affirmed Kazkommertsbank’s ratings at ‘BB+’ downward pressure on ‘C/D’ individual rating (SRI)
Housing prices in Kazakhstan down in June (SRI)
Developers plan $1.5 Billion resort casino for Kazakhstan (SRI)
Kazakhstan will supply wheat to Kyrgyzstan despite the export ban (AgriMarket.info)
National Bank of Kazakhstan: Exchange rates July 10, 2008 (Kazinform)
Indicators - July 9, 2008 (Reuters)
Fitch affirms BTA Bank’s ratings; highlights downward pressure on individual rating
(Fitch Ratings) - Fitch Ratings has today affirmed Kazakhstan-based BTA Bank’s (BTA) ratings at foreign currency Long-term Issuer Default rating (IDR) ‘BB+’, foreign currency Short-term IDR B’, local currency Long-term IDR ‘BBB-’ (BBB minus), Short-term local currency IDR ‘F3′, Individual ‘C/D’, Support D’ and Support Rating Floor BB+’. The Outlook on the both Long-term IDRs remains Negative.
Kazakh banks’ post-crisis potential
Some Kazakh banks are better situated than others to weather the current domestic crisis. The levels of exposure to the main source of risk, foreign debt financing, differ greatly among the banks, and may prove to be the deciding factor in their further growth.
