Bank TuranAlem JSC (Kazakhstan) opened representative offices in Yerevan and Tbilisi

/IRBIS, Assel Omarova, August 23, 05/ - Bank TuranAlem JSC (Almaty), whose shares and bonds are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, spread press-release, which informs about opening of bank's representative offices in Yerevan (Armenia) and Tbilisi (Georgia). According to bank's information purpose of opening official representative offices in Armenia and Georgia is providing qualitative banking services to clients of Bank TuranAlem JSC, assistance to development of business connections between countries, monitoring of development national market of financial services of Armenia and Georgia and search of ways for business expansion of Bank TuranAlem JSC in these countries. Main strategic partner of Bank TuranAlem JSC in Armenia - BTA InvestBank, renamed from International Investment Bank CJSC by the decision of general meeting of shareholders dated May 16, 2005. Bank TuranAlem JSC owns 48.9% shares of BTA InvestBank. To its clients, who represent different groups of the country' population, BTA InvestBank offers opening and servicing of urgent deposits and deposits to be called for, cash settlement servicing, consumer credits, currency operations and transfer of funds. Main strategic partner of Bank TuranAlem JSC in Georgia is BTA Silk Road Bank, 49% shares of which in March 2005 purchased Bank TuranAlem JSC. Main goals of strategic partnership: development in Georgia of big universal financial institute, which meets all modern requirements and international standards in commercial banking. BTA Silk Road Bank intends to fulfill feasible contribution in development of financial sector of the country as a whole, to introduce innovation banking products, to develop partner relations with local authorities for participation in municipal programs, to promote Georgian companies and Georgia as a whole in international investment community, stimulating flow of foreign investments to Georgia. The bank intends to improve prosperity of the country's population by providing progressive financial services, elaborated and approved in system of Bank TuranAlem JSC. Priority directions of BTA InvestBank and BTA Silk Road Bank include offering of products, required at the market of Armenia and Georgia and having completive advantage: - medium term financing, aimed for renewal of main funds and development of new production in the country; - trade financing for exporters and importers with a view to develop volumes and increase quality of external trade activity of private business of the country; - mortgage crediting of population and subjects of small business, aimed for medium- and long term financing of immovable property acquiring in the country; - financing of subjects of small and medium size businesses with a view to develop strategic important segment for the country's economy. Bank TuranAlem JSC - backbone bank of Kazakhstan, leader on creation of banking net in CIS countries. Bank's assets reach $5.5 bn, total shareholders equity exceeds $600 m. Bank's shareholders are big financial institutes of the world: EBRD, RZB, FMO, IFC. Bank's group - strategic partners, in capital of which Bank TuranAlem JSC has stake, consists of BTA InvestBank (Armenia), Slavinvestbank (Moscow), Omsk-bank (Omsk), Astanaeximbank (Minsk), Agroinkombank (Astrakhan), BTA-Kazan (Kazan), BTA Silk Road Bank (Georgia). Net of foreign representative offices of Bank TuranAlem JSC covers Russia, Byelorussia, Kirgiziya, Ukraine, Tajikistan, Georgia and China. At present Bank TuranAlem JSC is concentrated on consolidation of banks, in whose capital it included, on adaptation of business-procedures, unification of technologies and products. [2005-08-23]