Media about us: ?Prognosis?(Almaty) # 25 (26), 26.09.2008

Mukhtar Ablyazov: ?The year 2009 will be also not easy?? /Gulsum Kunelekova/

Mukhtar Ablyazov: ?The year 2009 will be also not easy?? /Gulsum Kunelekova/

?For now the ?BTA Bank? is only one bank which positions itself as a global financial institution?- Mukhtar Ablyazov said also at the press-briefing answering the question about the plans of the bank. ?Consolidation of the bank is in progress, including Russia, where the ?BTA Bank Russia? will be created, as well as in Belorussia, Kyrgyzstan, by the end of the year we will have got the permission of the Ukrainian regulator.? In this connection, as far as is known, the HCBC Bank has been chosen as the consultant in strategic business expansion of the BTA group. ?The BTA group? is planning to occupy 25% at the banking services market in Kazakhstan, to increase their share at the Russian market up to 2% and not less than 5% at the markets of other countries of the CIS. ?Our bank will work not only in the CIS but also in the whole world and will take the leading positions within the next 20 years ? ? said Mukhtar Ablyazov in this connection. During the discussion at the Almaty Interbank Conference Mukhtar Ablyazov paid special attention to importance of keeping business activity in our country. He compared this process to the situation when a frog whipped cream with its legs until the cream turned into butter and the frog could escape. ?Salvation is in tenacity and responsiveness to the situation changing??noted Mr. Ablyazov. ? After the wars in Germany, Japan just business activity of the population became the main mechanism in overcoming negative consequences of the crisis. Moreover business activity of the population sets going business activity of the government.? At the opening of the IX-th Almaty Interbank Conference the chairman of board of directors of the ?BTA Bank? Mukhtar Ablyazov mentioned that Kazakhstan is on the threshold of big changes. What did one of the greatest bankers of our country mean and what is his opinion on the world financial crisis? ? the ?Prognosis? asked Mukhtar Ablyazov.
- Mukhtar Kabulovich, today the prime-minister said that real difficulties are yet to come. What do you think about it?
- It is hard to say now, what difficulties we can expect. We are starting from the fact that the main motive power of the world economy is the USA. We can see that the USA has financial problems in different sectors, that has an effect on real economy. And we understand that it will affect Kazakhstan in some way. As regards global difficulties I think we will overcome them. The main prices for raw materials in the world are high, f.i. oil is about $100 for one barrel. Our country is rich in raw materials and I think we don?t have any fundamental reasons for difficulties. However there will be tactical difficulties. But the last year showed that we can manage it. And I want to emphasize once again that business activity of the population is very important, it will help to overcome all the difficulties. The difficulties will become apparent according to development of the situation. And then the government and the market participants will react. As a whole I think we have a strong financial system.
- Today talking about the crisis the Minister of Finances Bolat Zhamishev said that in China this word is written with two hieroglyphics: one means a problem, another ? chances. What chances can you see?
- Crises are very easy to explain. The world is developed with different tempos, that leads to disproportion. Rapid development is followed by falling down and disproportion begins to even out. And Kazakhstan is not exception here. I think the sectors, which were not in great demand because of different reasons, will be paid attention to. For example, the situation in power engineering is worsening, that is an opportunity for investments, new workplaces. It solves problems which emerged for the last two years.
- According to your predictions, when will our foreign investors, who run away from the developing markets, come back to us and our shares go down?
- Some investors will leave, some new ones will come because even in crisis they will have new opportunities. We are a part of world economy. And it is a permanent process like ebb and flow.
- What is the situation with purchase of daughter enterprise of ?BTA Bank? ?Temir Bank? by foreign investors?
- ?Temir Bank? is a very interesting asset and here we have two factors. The first one ? are the shareholders ready to sell it for the price which is offered by the investors? But there are offers not only about selling the assets but also about pooling of assets. If the shareholders are not interested in investors? offer, we will make another decision in the near future, even in the near month. Probably it will be decision about its further development. It is a very interesting asset and we don?t want to sell it for low price.
- And who from investors has already showed interest?
- We have a confidentiality agreement so unfortunately we can?t provide this information yet. But there was a large group of investors and proposals are received constantly.
- Have your plans about access to IPO changed?
- The world markets are not very favourable now for access to IPO and in this situation there is no need for ?BTA Bank? to go to IPO. The year 2009 will be also not easy.
- Are you expecting increase in volume of transactions in mergence and takeover in Kazakhstan this year?
- What predictions for this year concerns, I can not say for sure, but there is no doubt, that it will happen in different spheres including pension and insurance funds, everywhere.
During video-briefing with the prime-minister Karim Masimov Mukhtar Ablyazov also asked him a question: ?State structures, for example, in the USA, Japan, Europe support actively the financial sector making large investments into economy. Now liquidity crisis has not affected the bank system of Kazakhstan, but several documents fell in price. In this connection large structures take part in intervention to stabilize the cost of securities. Can we expect help of the government in supporting the cost of our securities??
That was the answer of the prime-minister: ?This is a very interesting question, Mukhtar Kabulovich! We have been studying this question, and soon we will have some suggestions. But now I can not give you an unequivocal answer?.
And one more question about mortgage lending of ?BTA Bank?. Your bank started actively advertising mortgage on relatively low prices at the time when other banks on the contrary reduce their real-estate loans.
- This is the same Chinese hieroglyphic: when others can not see opportunities, we can see them.