BANK CASPIAN JSC (Kazakhstan) announces about purchasing of the stake in its capital by the company Baring Vostok Capital Partners
20.12.06 17:31
/KASE, December 20, 06/ - BANK CASPIAN JSC (Almaty), shares and bonds
of which are traded in Kazakhstan stock exchange's (KASE) category
"A" official listing had spread today the press-release, in which
the following is said:
Quotation begin
Bank Caspian is one of the large retail banks of Kazakhstan, had announced
about purchasing of significant stake in the capital of Bank by the company
Baring Vostok Capital Partners, one of the leading companies managing the
funds of direct investments in CIS. The deal was approved by regulating
bodies of Kazakhstan, including Agecny of Republic of Kazakhstan of
regulating and supervision over financial market and organizations and
Committee competition security. Bank will belong to present shareholder
of the Bank Vyacheslav Kim and Baring Vostok.
For today the assets of Bank Caspian are exceeding US1.6 bn., and the cost
of net assets - US160 m. Caspain has the one of the largest networks in
Kazakhstan, which includes 142 subsidiaries and calculation-cash offices al
over the country. Bank has more then 330,000 retail and corporate clients, to
which it is provided the whole range of banking services, including credits
to enterprisers and individuals, auto-credits, credits to small business and
mortgage credits. Retail credits are composing more then half of Bank's credit
portfolio. Bank Caspian is one of the leaders in the field of consumer's
express-crediting in Kazakhstan. Caspian was the first bank, which had
offered this product to population of Kazakhstan in year 2003 and since
the moment of starting the express-crediting, had given more then 1.1 m.
express-credits to the population through the wide network, which today
includes more then 500 points of selling servicing more then 2000 shops all
over Kazakhstan.
"Partnership with long-term investor of such level - is the excellent news
for our Bank, our Clients and banking sector of Kazakhstan as a whole", - told
Vyacheslav Kim, Chairman of Board of directors of Bank Caspian JSC. "The
interest of Baring Vostok, investor with high international reputation, to
Caspian and Kazakhstan is the recognition of our achievements and sign of
confidence in potential of the further growth of Caspian".
The partner of Baring Vostok and member of Board of directors
of Bank Caspian JSC Mikhail Lomtadze stressed that "our investment
to Bank Caspian is aimed on creation of the best retail Bank in Kazakhstan
and Middle Asia. Bank has the perfect perspectives to growth and we will
strengthen the financial opportunities of Caspian by increasing the capital
of Bank by more then 50%. It is very important for u, that we have such
partner as Vyacheslav Kim. We are sure that combination of experience of
Baring Vostok of creation one of the most successful companies in CIS and
the overall work experience of mister Kim on the local markets will become
the key factor of the further growth and widening of the Bank's business".
Nurmukhamed Bektemisov, Chairman of Board of Bank Caspian JSC added
"participation of Baring Vostok in the capital of Bank is the signed event,
allowing us to start the next stage of bank's development. Caspian already
has trong positions - about 6% of market of consumer's crediting in Kazakhstan
and leading positions on the market of express-credits. This partnership will
allow us to continue the provision with high quality services of our clients,
and using the financial opportunities and experience of Baring Vostok,
to wide our presence on the market".
Note:
Bank Caspian JSC - is one of the leaders of consumer crediting market in
Kazakhstan with assets exceeding $1.6 bn. Retail network of the bank
consists from 142 departments and 500 points of selling the express-credits,
servicing more then 2000 trade enterprisers. Credits to individuals composite
more then half of Bank's credit portfolio. Bank has more then 3.900
employees and 330.000 retail and corporate Clients www.bc.kz
Baring Vostok manages the assets of three funds of direct investments in
CIS. Since year 1994 funds under its management had invested more then
$600 m. to 46 companies. In the portfolio of Baring Vostok are the number of
companies in the sphere of financial services, oil and gas field,
telecommunications and sources of mass media, in consumer's sector,
including such famous companies as Europlan, Center of financial
technologies, Barren Energy, Vympelkom, Golden Telecom, Syktyvkar
Timber Industry Complex, Sladko, Borjomi, Yandex, and Ozon. Among
investors of funds under management of Baring Vostok are such famous
financial institutes as European Bank of Reconstruction and Development,
International Financial Corporation, Netherlands' Agency of development
(FMO) and many others. Baring Vostok enters to composition of Baring
Private Equity Partners International, group of managing the funds of direct
investment with $2.5 bn. assets in Asia, India and CIS www.bvcp.ru
Extra information:
Press-service of Bank Caspian JSC
Vakirova E.V. Tel.: 50-18-20, 50-18-00 (internal 1132)
e-mail: vakirova@bankcaspian.kz
Quotation end
[2006-12-20]