The FINANCIAL -- Bank TuranAlem announced its rebranding starting November 7, 2007. “Necessity in renovated image of the Bank conglomerate at large has emerged when BTA adopted a new strategy to become a leading financial institution in the CIS and to gain an access to the international market”, bank said last on November 9.
"New tasks faced by BTA conglomerate have cried for a new brand that will become international, universal and concurrently outgiving and innovative. I believe the previous brand was successful and the Bank owes it the market reputation it has today. TuranAlem brand was devised to conquer a market share in Kazakhstan, and it has succeeded in this task. Meanwhile, the new brand, BTA, must secure a market share globally," chairman of the Management Board, JSC Bank TuranAlem Roman Solodchenko said at the presentation of the new brand.
Thus, banks and companies of the banking conglomerate will have a single brand, BTA. The Bank itself will be named BTA Bank. This name is catchy and easily utterable. The acronym is more advantageous due to its versatility. “At that, succession of Bank TuranAlem, a fairly prominent and respected brand on the market, is maintained”.
According to BTA, new logotype of BTA reflects modernity and innovation of the Bank. Pistachio green stands for frankness, prosperity and optimism. Scarlet is might and vigor. The logy shape is also a non-random choice. Successive squares express reliability and soundness. Their crossing produces an effect of transparency, a key operation quality of a present-day bank.
Russia's LMH Consulting has devised the brand and another Russian company, Direct Design, is in charge of visual identity, logotype.
BTA rebranding will take several stages. The first, bridging phase, completes at the end of 2007, when we announce a replacement of the brand. Renaming and revisualization of the Bank and its subsidiaries start in 2008.
Bank TuranAlem (BTA) is among largest banks, leader in creation of banking network within CIS. According to tentative data, BTA consolidated assets soared by 47.4% over the first nine months of the year making USD24.084 million as of October 1, 2007, capital rose by 2.3 times to reach USD3.577 million. Consolidated net income of BTA amounted to USD 492 million and increased in 2 times in comparison with the similar period of the last year.
BTA operating in the CIS and far-abroad countries is expanding into the CIS. Activities of its strategic bank partners cover Ukraine, 4 regions in Russia, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA also 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.
For the period from December 31, 2006 to October 1, 2007, according to preliminary data, consolidated assets of JSC Bank TuranAlem grew by 47.4% to US$24.1 bln., total equity grew by 2.3 times to US$3.6 bln. Net income of the BTA Group was US$492 mln. which is twice more comparing to the same period of the previous year and exceeded net income for the whole year 2006 by 60%.
Loans to customers grew to US$18.7 bln. as at October 1, 2007 from US$10.6 bln. as at the end of 2006 thus reflecting a 76% increase for the 9 months of 2007. Net interest margin for the same period grew to 5.5% from 4.2%.
In October 2007 JSC Bank TuranAlem completed a US$750 mln DPR securitization transaction. The transaction was done through specialized BTA Finance Company and is BTA’s first one in the international debt capital markets under it’s diversified payment rights ("DPR") programme. This transaction is notable for being the largest ever single DPR transaction in Kazakhstan.
On November 1, 2007 Moody’s rating agency downgraded debt rating of a few Kazakh banks, including JSC "Bank TuranAlem" (global local currency deposit Ba1/NP, foreign currency senior unsecured debt Ba1, foreign currency subordinated debt Ba2, foreign currency junior subordinated debt Ba3). The outlook on all of the Bank’s deposit and debt ratings is stable.
The Bank is planning to arrange an investor conference-call early next week to discuss with its investors recent developments and results of 3Q2007. Details of the call will be provided later.
In September 2007 the Bank won "Best Enterprise of Europe" international award in Eurasian banking sector.