Bank TuranAlem

Infobox_Company
company_name = Bank Turanalem (Банк ТуранАлем)
company_



company_type = Private
foundation = 1925
location = Almaty, Kazakhstan
key_people = , CEO
industry = Finance and Insurance
products = Banking
revenue =
homepage = [http://www.bta.kz/ www.bta.kz]

"Bank TuranAlem JSC" ( _kk. ТұранӘлем Банкі, _ru. Банк ТуранАлем) is a leading Kazakh universal bank. BTA's assets exceed US $24,0 billion, while its total equity capital amounts US $2,97 billion. Among Kazakhstan's second tier banks, "Bank TuranAlem" confidently holds the leading position in trade financing, SME lending and mortgage loans. Consolidation of the bank's assets in the CIS is planned in 2007 with the increase up to US $50 billion. Banks also plans geographical diversification and extension of range of banking products, and also stable and dynamic growth of main indexes.

Bank Turanalem

*Approximately 750,000 clients;
*22 branches and 256 cash settlement units in Kazakhstan;
*International representatives in Ukraine, Russia, the People's Repbulic of China, and the United Arab Emirates;
*9 commercial banks — strategic partners in Russia, Ukraine, Belarus, Kyrgyzstan, Armenia, Georgia.

History

Origin

The history of "Bank TuranAlem" JSC started on October 15, 1925, when department of "Promyshlennyi (Industrial) Bank (Prombank)" ( _ru. Промышленный банк (Промбанк)) was opened in Kazakh Republic according to the decree of Presidium of Central Council. Later the department of Prombank underwent various changes.

Thus, on June 7, 1932 by "On organization of special banks for long-term investments" decree Council of People's Commissars of the Republic created Kazakh Regional Banking-office for financing of construction and electric economy, on the basis of Prombank.

With the decree of Council of Ministers, on July 11, 1949 Almaty Interregional Office was reorganized into Prombank of USSR Office of Kazakh Republic, and later into Stroybank of USSR Office of Kazakh Republic.

On July 17, 1987 with the joint decree of Central Committee of the CPSU and Council of Ministers of USSR "On development of banking system in the country and strengthening of its influence on the increase of effectiveness of the economy" on the basis of three state banks (Stroybank of USSR, State bank of USSR, Vneshtorgbank) 6 banks were formed:

State Bank of USSR; Industrial engineering bank USSR; Vnesheconombank of USSR; Agroprombank of USSR; House building bank of USSR; Savings bank of USSR; On March 4, 1991 Kazakh Republic Bank of Promstroybank was reformed into Kazakh Republic Bank of State Commercial Industrial Engineering Bank of USSR "Turanbank" by the Decree of State Commercial Industrial Engineering Bank of USSR.

By the Decree of Cabinet of Ministers of Kazakh SSR on July 24, 1991 Kazakh Joint-Stock Bank "Turanbank" was created. Oraz Beisenov was appointed the Chairman of the Management Board, as a result of the shareholders meeting.

Branch network of Turanbank included 66 offices.

By the decree of Bank for Foreign-economic Activity of USSR (Vnesheconombank) on January 23, 1990 Kazakh Republic Bank of Vnesheconombank of USSR was created in Almaty on the basis of the agreement signed by Council of Minister and Vnesheconombank of USSR on December 11, 1989.

Modernisation and recent developments

As a result of the founders meeting on February 14, 1992, Republic of Kazakhstan Vnesheconombank was renamed into Republic of Kazakhstan Vnesheconombank "Alem Bank Kazakhstan." Berlin Irishev was appointed Chairman of the Management Board.

For several years joint-stock bank "Alem Bank Kazakhstan" acted as Republic of Kazakhstan government agent, arranging foreign credits covered by the state.

Branch network of "Alem Bank Kazakhstan" included 20 offices.

Closed joint-stock company "Bank TuranAlem" was created on January 15, 1997 according to the decree of Republic of Kazakhstan government "On reorganization of Kazakh joint-stock bank "Turanbank" and joint-stock bank "Alem Bank Kazakhstan". Under this decree, Ministry of Finance received the authority to own and to dispose shares of "Bank TuranAlem", with the right to approve the charter and to form management bodies of the Bank. As a result of shareholders meeting, Yerzhan Tatishev was appointed the Chairman of the Management Board of CJSC "Bank TuranAlem".

On October 1, 1998 CJSC "Bank TuranAlem" was renamed into Open Joint-stock Company "Bank TuranAlem".

On September 26, 2003 the bank was renamed into JSC "Bank TuranAlem".

JSC Bank TuranAlem (BTA) is among largest banks and leader in creation of banking network within CIS. According to the unaudited consolidated statement of BTA, its assets jumped by 50.91% over the first nine months of the year making USD 24.659 million as of September 1, 2007, capital soared by 102.09% to reach USD 3.097 million. BTA cleared USD 373 million net income as of the reporting date, a leap of 73.64% from early 2007.

BTA operating in the CIS and far-abroad countries is expanding into the CIS countries. Activities of its strategic bank partners cover Ukraine, 4 regions in Russia, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA runs its representative offices in Russia, Ukraine, China and the United Arab Emirates.

In Kazakhstan, BTA's network consists of 22 branches and 256 cash settlement units.

Respectable Itogi magazine named Bank TuranAlem "Bank of the Year 2006". Meanwhile, Euromoney recognized BTA as "A Leading Bank in Corporate Governance in Emerging Europe 2006". BTA also appears in the Banker's Top 300 and ranks the third in its Highest Movers rating. The Europe Business Assembly (EBA, Oxford, UK) has named Bank "TuranAlem JSC (BTA)" the Best Enterprise of Europe in the Eurasian banking sector.