OREANDA-NEWS. December 14, 2009. The Central Bank of the Russian Federation and LLS “BTA Bank” signed agreements giving BTA Bank the right to use funds in the amount of RUB 11.8 bln till April, 2010, reported the press-centre of BTA Bank.

These agreements actually transformed the loans received earlier into 5-month resources. This became possible after presentation of the Bank’s business development model to the regulator and its approval by the Board of Directors of the Central Bank of the Russian Federation. In taking this decision a major role was played by that the Bank during 2009 increased its reserves from RUB 3.8 bln till 10 bln as well as it considerably strengthened its loan portfolio from additional “hard” pledges of the total value of about RUB 20 bln. Moreover, the Bank gained a number of subordinated loans of the total of RUB 1.8 bln for the term of 10 years, among others, from a number of its Russian participants, which support the Bank.

BTA Bank constantly cooperates with the Bank of Russia, openly discusses its development prospects, problems and results of its operation. We sincerely appreciate the support and trust honored to us by the Central Bank of the Russian Federation – says Chairman of the Board of BTA Bank Ms. Elena Messerle. – The major role in the decision made by the Bank of Russia was also played by Russian participants, who supported BTA Bank with subordinated loans as well as by courts of arbitration, whose awards confirmed the lawfulness of actions by the Bank’s management bodies and our team’s high level of professionalism

Since February, 2009 (after the breakup of BTA Group due to nationalization in Kazakhstan of its Centre – BTA Bank JSC, the former largest nongovernmental bank in the CIS and owner of 22.26% of the Russian Bank’s stakes) the Russian participants of LLS “BTA Bank” have been having corporate disagreements with the Kazakhstan participant of LLS “BTA Bank” - BTA Bank JSC (Kazakhstan). However, despite this fact, the Russian Bank not only has been duly performing its obligations but also steadily increasing its customer base, actively developing new business directions and initiated a number of successful innovations in the banking service. The Bank has been successful in efficiently using its potential for transformation from being a part of a large group into being an independent player in the Russian financial market, which is evidenced by the trust of the regulator, support of participants, team’s stability and customer base growth.