BTA Bank (Kazakhstan): Fitch Ratings upgrades BTA Bank (Russia) to "B+"

/KASE, August 21, 08/ - BTA Bank (Almaty), securities of which are traded in the official list of Kazakhstan Stock Exchange (KASE) of category "A", provided KASE with the press release dated August 20: Quotation start International rating agency Fitch Ratings declared upgrading of long-term default rating of BTA Bank OOO - subsidiary bank of BTA Bank in Russia from "B-" to "B+". At the same time the national rating of the issuer has been upgraded to "А-" level with stable outlook. Other ratings of the bank have been approved at the following levels: short term rating of issuer default (RDE) "B" and individual rating "D/E". The rating has gained two points due to BTA Bank (Kazakhstan) acquiring 52 % shares of BTA Bank (Russia), the agency says. The level of support of long-term RDE "no support level" has been withdrawn, as now BTA Bank (Russia) is in a major property of BTA Bank (Казахстан), and will be completely consolidated into its statements and may rely on serious support on the side of the institutional owner. Such factors as further development of client base and a large diversification of funding sources with a more appropriate credit risk level after the acquisition may lead to upgrading of the individual rating of BTA Bank (Russia). With BTA Bank shareholders being fully determined for further enlargement of their presence in Russia, the forecasts look real. The ratings take into account good indicators of bank profitability, moderate for the time being levels of depreciation of credits and adequate capitalization. Revised in a very positive way rating of BTA Bank (Russia) provides a good basis for further growth and activity of the BTA Bank Group, and most importantly - increases reliability as seen by customers and partners. For Media: Adyl Dosymov, Press Secretary of BTA Bank 8 (727) 266 47 97, e-mail: dosymov@bta.kz Quotation end [2008-08-21]