Alliance Bank JSC (Kazakhstan) borrowed a syndicated loan for $80 m.

/IRBIS, Assel Omarova, May 26, 05/ - Alliance Bank JSC (Almaty), whose shares and bonds are traded in Kazakhstan sock exchange's (KASE) official "A" listing category, today spread press-release saying on May 24 of 2005 bank borrowed a syndicated loan for $80 m. This loan was borrowed for one year with the option of prolongation for similar period at LIBOR +2.20% APR interest rate. Organizers of the loan are Citibank, N.A. and ING Bank N.V. Participants of the syndicate, including organizers, are 27 foreign banks and financial institutions, including organizers from the USA, Great Britain, Austria, Germany, Canada, India, Poland and other countries. First among banks, which took part in the loan there are HSBC, National Bank of Egypt, Sumitomo Mitsui Banking Corporation, Israel Discount Bank of New York, Ost-West Handelsbank Emirates Bank International PJSC, De Indonesische Overzeese Bank and other. The message says the borrowed funds will be used for financing export and import contracts of Alliance Bank JSC clients. According to the presented data bank takes the fifth place by the size of equity capital, and the sixth place by the size of assets among Kazakhstan banks. As of May 1 of 2005 bank's assets were KZT143.7 bn. ($1,091.5 m.), liabilities - KZT127.2 bn. ($966.1 m.), equity capital - KZT16.5 bn. ($125.4 m.). Profit for 4 months of 2005 - KZT409.9 m. ($3.1 m.). [2005-05-26]