BTA Bank (Kazakhstan) reported results of the meeting with representatives of Commission on control of government funds allocated within the crisis management program

/KASE, March 11, 09/ - BTA Bank (Almaty), securities of which are present in Kazakhstan Stock Exchange (KASE) official list, informed KASE that on March 9, BTA Bank Board of Directors Chairman Arman Dunaev and other top managers met with representatives of the Commission on control of government funds allocated within the crisis management program. The main goal of the Commission, created in January 2009, is to ensure the maximum transparency of BTA Bank participation on crisis management measures of the government aimed at stabilizing of the country economy. "Creation of the Commission on control of government funds allocated within the crisis management program was initiated by Nur Otan party. The Commission composition includes not only the party members, but also representative of the Parliament and the public. At present the Commission actively defines the crisis management priority objectives and implements them", - emphasized Deputy Chairman of Nur Otan Darkhan Kaletaev. A. Dunaev informed that the bank is actively participating in main government programs on the economy stabilizing. In particular, in the program on support of small and medium size businesses (SMB), hypothecary loans re-funding, financing of agricultural complex and construction projects in Almaty and Astana. BTA Bank Deputy Chairman Genrig Kholodzinskiy informed the meeting participants that according top the general agreement signed between NWF Samruk-Kazyna, the fund Damu and BTA Bank for SMB financing, the bank received KZT22 bn. that makes up 18.8% from the total volume of budget resources allocated to SMB in the size of KZT117 bn. From February 20 to March 5, from Samruk-Kazyna funds for SMB BTA Bank allocated loans to the amount of KZT250.7 m. projects to the amount over KZT5 bn. are being considered. Before April 1, the bank plans to draw KZT11-12 bn. Government funds and before May 15 to complete this objective. The managing director, the bank Board member Kunsulu Kapbasova said that on February 25 the bank signed the agreement with Samruk-Kazyna on participation of the bank in the government program of hypothecary loans re-funding, which will allow debtors to re-fund previously issued loans for purchasing of habitation at the low rates (11% - for common debtors, 9% - for the social populations). "The amount allocated by Samruk-Kazyna makes up KZT40 bn., out of then BTA Bank will draw KZT28 bn., BTA Ipoteka - KZT12 bn. The bank expects to issue approximately 11,000 loans", - said K. Kapbasova. Moreover, K. Kapbasova informed the Commission representatives that BTA Bank was the first, which started accepting applications from the population regardless of the fact that officially the program was launched on March 2. Thus, as of March 1, BTA Bank accepted 3,700 applications for re-funding to the amount of KZT15 bn. The meeting participants agreed to implement meetings on a regular basis. [2009-03-11]