Vitebsk oblast administration, BTA Bank ink cooperation agreement

The Vitebsk Oblast Executive Committee and BTA Bank (part of BTA Bank, the largest Kazakhstan bank) have signed a cooperation agreement. The document was signed during the VI international investment forum Investments for Development of Business and Provinces, BelTA has learnt. BTA Bank Deputy Chairman of the Board Alexander Titov remarked, the agreement will boost the bank’s cooperation with businesses in the Vitebsk oblast. The first steps have been made. There is a BTA Bank centre of banking services in Vitebsk. Relations have been established with some Vitebsk oblast petrochemical companies. Lending for small and medium businesses interested in acquiring inexpensive resources for a long time looks promising. In the near future BTA Bank plans to set up offices in Novopolotsk and other large towns of the region. In 2009-2010 the bank plans to open 30 offices across Belarus. The bank is interested in partnership with trade companies, petrochemical, energy, construction companies and others. Alexander Titov said, BTA Bank (Kazakhstan) is the CIS fourth largest bank and is one of the world’s 300 largest banks. In 2008 the bank plans to double its assets in Belarus up to $150 million. BTA Bank is one of the most rapidly developing banks in Belarus, with this year’s profits expected to reach $1.5-2 million (twice as much as in 2007).

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