Authorized capital of Russian BTA-Kazan, in which bank Turanalem owns almost 20% shares, to grow to RUB1 bn.

/INTERFAX-KAZAKHSTAN, Almaty, June 21, 05/ - It's planned to increase authorized capital of bank BTA-Kazan (former Volzhsko-Kamskiy joint-stock bank), one of whose shareholders is Kazakhstan bank TuranAlem (BTA), to RUB1 bn. This decision was taken at the general shareholders meeting held on Monday, message of BTA's press-service says. "It's been decided to increase the bank's authorized capital to 1001781898.45 rubles by offering additional 212436195 common inscribed shares by open subscription. Offering price totaled 4 rubles 31 kopecks per share, that is equal to the face value", - the message says. Shareholders have decided the issue form will be non-documentary, and date of offering completion - no later than one year since issue state registration date. The message does not specify what the size of authorized capital of BTA- Kazan at present is. Shareholders have also decided that the bank's net profit earned in 2004 in the amount of 29033 th. rubles will be spent for dividends payment on privileged shares at the rate of 20% from shares face value, for replenishment of the reserve fund, and also for bank's production and social development fund. In addition, shareholders have confirmed the bank's charter in a new edition, that is concerned with the bank's renaming and reorganization of its supervisory council into the board of directors. Shareholders have also confirmed a new staff of the board of directors consisting of 5 members. Besides, the annual report and bank's auditor as well as statutes about the board of directors, executive committee, auditing commission and returning board in a new edition were approved. The message says "major priority in the strategy of the Russian bank's development is making a universal commercial bank with the major accent made on the development of trade financing, pre-export and pre-import crediting, and also development of mortgage crediting". The message also says BTA within the frameworks of achievement of the agreement with BTA-Kazan about strategic partnership plans to give to its regional partner technologies and standards of making business in the mid- term future. BTA is Kazakhstan's system forming bank, size of its assets is $5 bn. and total equity capital is $600 m. At present BTA's strategic partners, besides BTA-Kazan, are Russian Slavinvestbank, Omsk-bank, Agroincombank, Ukrainian Transbank, Byelorussian Astana-Eximbank and Georgian BTA Silk Road Bank. [2005-06-22]