MORTGAGE LOAN: BTA IPOTEKA

Location:

Kazakhstan

Project number:

28270

Business sector:

Non-depository Credit (non bank)

Notice type:

Private

Environmental category:

FI

Target board date:

05 Nov 2002

Status:

Completed

PSD disclosed:

16 Sep 2002

Project Description

A proposed loan to BTA Ipoteka, a 100% owned subsidiary of Bank TuranAlem (BTA).
EBRD's loan would help BTAI better manage its balance sheet (matching tenor of funding with assets) and reduce funding costs, which would increase the amount of retail mortgage lending it can make available.
 

Transition Impact

EBRD's proposed loan would be the first case of a mortgage lender utilising its mortgage receivables to help securitise international obligations. The loan would help advance development mortgage securitisation in Kazakhstan more generally.

The Client

BTA Ipoteka (BTAI), established in late 2000, is a subsidiary of Bank TuranAlem specialising in mortgage finance. As of mid-year 2002, BTAI is one of the most active retail mortgage lenders in Kazakhstan.

EBRD Finance

Up to 7-year, USD 5 million loan (EUR 5.05 million), provided in two tranches of USD 2.5 million each.

Project Cost

USD 5 million loan (EUR 5.05 million).

Environmental Impact

The environmental impact from the project will be low as the borrower is committed to comply with the financing restrictions stated on EBRD’s Environmental Exclusion List for Financial Institutions as well as with EBRD’s Environmental procedures for Intermediate Financing through Local Banks.

Technical Cooperation

None.

Company Contact

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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