International Investment Bank CJSC (Armenia) becomes a strategic bank-partner of Bank TuranAlem JSC (Kazakhstan) - press-release

/Bank TuranAlem JSC, Almaty, Yerevan, May 24, 05, headline IRBIS/ - Bank TuranAlem buys 48.9% of shares of Yerevan's International Investment Bank CJSC. On May 16 of 2005 general Meeting of Shareholders of International Investment Bank CJSC decided to confirm the Council of International Investment Bank CJSC consisting of three persons, among them - one representative of BTA. The five-year Indicative plan of bank's development was also confirmed at the meeting, there were worked out questions on development strategy, and there were determined main bank products required on Armenia's market and, which have competitive advantages. Bank TuranAlem is realizing the strategy "One bank, one account, the whole CIS", which means creation of the network of banks - BTA's strategic partners for serving economic interests of neighboring countries. BTA's network also comprises Slavinvestbank, Omsk-bank, Agroinkombank, Volzhsko-kamskiy joint-stock bank (Russia), Transbank (Ukraine), Astana- Eximbank (Byelorussia), BTA Silk Road Bank (Georgia). By the year 2008 BTA plans to be the biggest private bank of CIS. Bank's representative offices are functioning in Kiev, Minsk, Moscow, Bishkek, Baku, Yekaterinburg, Yerevan and Shanghai (CPR). A representative office is to be opened in Tbilisi. Bank TuranAlem JSC is the backbone bank of Kazakhstan and a leader on creation of banking network in CIS. BTA's assets exceed $5.0 bn., total equity capital is over $600 m. The staff of shareholders of one of the first international banks in Kazakhstan comprises world's big financial institutions. Bank TuranAlem JSC is confidently taking the leading position in Kazakhstan among second tier banks in the sphere of trade financing, SMB crediting and mortgage crediting. BTA's development strategy provides geographic diversification and expansion of the range of bank products, and also the stable dynamic growth. To contact media: Valentina Vladimirskaya, press-secretary of Bank TuranAlem JSC 8 (3272) 505-464, press@bta.kz [2005-05-25]