BTA Bank, Kazakhstan, reported full implementation of its investment commitments to Ukraine, undertaken during privatization of 25% plus one share in insurance company Oranta, BTA CEO Mukhtar Abliazov told Ukrainian News.

"We have fully met our commitments to the state in the purchase of the 25-percent shareholding. In the first place, it was to preserve the strength of the personnel," Abliazov said.

He added that the bank easily agreed to those requirements, as the company's philosophy is careful attitude to personnel, and responsibility to the country where it does business.

"We will continue taking care of the company's greatest value, people," Abliazov emphasized.

Another requirement of the State Property Fund was to prevent a worsening of the company's financial status.

"This requirement has also been met," the CEO said.

He noted that in 2007, Oranta collected a record for the classical insurance market volume of insurance payments, UAH 693.8 million, and following nine months of 2008, the total volume of insurance premiums at Oranta reached UAH 706.1 million.

As Ukrainian News reported, in October 2007, the State Property Fund sold to Kazakhstan's TuranAlem bank (former name of BTA Bank) 25%+1 share in insurance company Oranta for UAH 500.75 million.

The main shareholders of Oranta are BTA Bank (Kazakhstan) with 25% + 1 share, Saleta Ltd. (Cyprus) with 24.99%, Colorino Trading Ltd. (Cyprus) with 20.22%, and TuranAlem Securities (Kazakhstan) with 14.44%.

Moreover, about 20 foreign and local investors own 11.35% of the shares in the insurance company.

Oranta is the successor of the former Soviet Union's Gosstrakh insurance company, and it specialized in risk insurance.