Alliance bank intends this year to double its net profit

/INTERFAX-KAZAKHSTAN, Almaty, July 5, 05/ - Kazakhstan Alliance bank intends to get in 2005 net profit in the volume KZT2.1 bn. (current 135.50/$1) against KZT860 m. in 2004. This was informed by deputy chairman of the board of Alliance bank Nurtaza Baitenov at press conference on Tuesday in Almaty. Along with this, he informed, bank plans to the end of 2005 to bring volume of assets up to KZT220-240 bn. in comparison with KZT120 bn. at the beginning of the year, own capital - up to KZT20-22 bn. in comparison with KZT13.8 correspondingly. Meanwhile, according to press release spread in the course of press conference, bank's income for the first 5 months of 2005 equaled to KZT622.9 m. against KZT282.4 m. for the similar period of 2004 (growth in 2.2 times). The message also notes that, as on June 1, 2005 bank's assets equaled to KZT162.3 bn., increasing in comparison with the beginning of 2002 in 19.8 times, liabilities - KZT145.5 bn. (growth in 21 times correspondingly), own capital - KZT16.8 bn. (in 13.2 times). "Keeping tendencies of annual financial growth last years and rampant development during last years", press release notes, allowed bank to shift from fifteenth position to the sixth - by amount of assets and to the fifth - by volumes of own capital in rating of Kazakhstan commercial banks as on the beginning of the year. As a whole, according to participated at press conference Alliance bank's chairman of the board Zhomart Yertayev, specialty of bank's strategy is "it does not plan expansion to external markets and intends to concentrate all its activity inside the republic". At present time branch net of the bank consists of 11 branches and 44 cash settlement divisions in 15 cities of Kazakhstan. In nearest months bank plans to open branches in Shymkent, Uralsk and Aktobe. [2005-07-05]