BTA Bank
BTA Bank () (BTA Bank Joint-Stock Company in full) is a Kazakhstan bank with headquarters in Almaty. it was the third largest lender by assets. In 2009, BTA Bank was subject of one of the world's biggest financial frauds totaling US$5 billion. History First stage On 15 October 1925 Presidium of Central Council of the Kazakhstan national economy ruled to open the department of Promyshlennyi (Industrial) Bank (Prombank). During the Soviet period the bank underwent several reorganizations. In 1991 it was re-established as Turanbank, the Kazakh Republican Bank of the State commercial industrial and construction bank. In 1991 Turanbank was established on this basis. In 1992 the bank was renamed to Alem Bank Kazakhstan, the Bank of foreign economic activities of the Republic of Kazakhstan. On 15 January 1997, Bank TuranAlem was privatised and set up a Closed Joint-Stock Company in accordance with the Decree of the Government of the Republic of Kazakhstan "On reorganization of the Kazakh joint-stock bank Turanbank and joint-stock bank AlemBank Kazakhstan". On 1 October 1998 Bank TuranAlem CJSC was renamed to Bank TuranAlem OJSC and then to Bank TuranAlem JSC. In spring 2008 the bank underwent rebranding, which resulted in the change of the name,