BTA’s Presentation November 2006

2 Strong operating environment Investments to fixed capital and ratings of Kazakhstan Source: NBK, Standard & Poor”s, Statistic’s Bulletin Gross Domestic Product Concentration risks are moderating Source: NBK, Unaudited Data Strong growth of banking sector (US$bn) Source: NBK Data (US$bn) Source: NBK Data

3 Kazakh Monetary Reserves and Debt Source: NBK National Fund External Debt H2006 Government and Government guaranteed debt, USD mln Private non-guaranteed external debt, USD mln Net International Reserves Source: NBK

4 Recent developments Business environment One notch upgrade for top 3 banks by Fitch and S&P (BTA to BB+/BB) Country Rating upgraded by S&P to BBB and by Moody’s to Baa2 WTO entrance and full liberalisation of financial market in 2007 New Law on Almaty as regional financial centre Regulatory environment Implementation of Basle II Accord Principles Tightened control over external borrowing and lending policy Legislative and regulatory innovations Best Bank in the CIS, 2005 Best Bank in Central Asia, 2005 Best FIG Borrower – Emerging Europe, 2006

5 Clear strategic targets Focus on SME and Retail Banking while expanding its corporate portfolio Further improve and diversify the bank’s funding base Strengthen corporate governance and invest in management Build a diversified financial services group attracting strategic partners Prepare the bank for a possible initial public offering Capitalize on growth potential in neighbouring countries

6 Leading market position Market position by assetsMarket position by loans & term deposits Source:NBK, According to KAS as at the end of 9M 2006 Market position by affiliates Source:NBK Comparison by capital with other banks Source: Bank Data; Note: According to KAS as at the end of 9M2006

7 Strong asset quality Asset structure Source: Bank Data Customer loans by type of borrower Source: Bank Data Provisioning ratios Source:FMSA

8 Sound loan structure Key credit quality ratios Source: Bank Data Loan portfolio breakdown Source:Bank Data as of 9M2006 Share of top 10 borrowers declining Source: Bank Data

9 Abundant funding & liquidity sources Funding structure Amounts due to customers by sector Individual deposits growth rates Source: Bank Data Source:Bank Data as at 9M2006 Maturity profile Source: FMSA Source:Bank Data as at 9M2006

10 International shareholders 31.22% The Bank of New York (Nominal holder) 2.58% Pension funds 4.49% Individuals 1.27% Kazakhstan companies 50.66% IFC 1.61% FMO 1.55% EBRD 1.61% East Capital 5% Deep capital base BIS capital adequacy Source:Bank Data Note: Total is Tier 1 + Tier 2 minus investments Capital base Source:Bank Data Shareholders’ base Source:Bank Data as of 1/10/2006 End of August 2006 – Scandinavian East Capital fund acquired 7.71% of the bank’s shares from RZB

11 Strong financial performance Revenue structure ROAE and ROAA Net interest margin and cost/income ratio Source: Bank Data