BTA Bank Reports on Entering into Related Party Transaction
OREANDA-NEWS. Herewith BTA Bank JSC kindly notifies that on April 21, 2014, the Board of Directors of BTA Bank JSC took resolution to enter into related party transaction:
Information on entering into a related party transaction by the joint-stock company
1) Date of taking resolution on the transaction by the Board of Directors - April 21, 2014;
2) Value of property being subject of the transaction - not applicable;
3) date of the last property assessment being subject of the transaction - not applicable;
4) Percentage ratio of the value of property being subject of the transaction to the total assets of the joint-stock company - not applicable;
5) main terms of the transaction:
- subject of the transaction - opening of three saving accounts;
- the currency in which open a saving accounts - tenge, US dollars and Euro;
- Product name - "Formula Uspekha" multicurrency deposit with fixed interest rate;
- Minimum initial installment - KZT 15,000 (fifteen thousand tenge);
- Minimum balance - KZT 15,000 (fifteen thousand tenge);
- Deposit maturity - 12 months;
- Accrual of interest - capitalization;
- Minimum conversion amount - KZT 150,000 (one hundred fifty thousand tenge);
- Interest rate: KZT 9,6%; USD 3,8%; EUR 2,5%;
- Effective interest rate KZT 10,0%; USD 3.9%; EUR 2,5%.
6) date of the transaction - July 21, 2014.
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