ATFBank JSC to be renamed in UniCredit Bank

/INTERFAX, Bishkek, July 18, 08/ - Kazakhstan ATFBank JSC will be renamed in UniCredit Bank. According to press service of the president of Kirgizia, the head of bank group UniCredit Group in Central and East Europe Federico Gizzioni made such announcement on Thursday, while meeting with the head of republic Kurmanbek Bakiev. "It is made with the aim to improve partnership and further bank's capital increasing in 2 times" - press service of F. Gizzioni quotes. He reminded that ATFBank and its Kyrgyz subsidiary became partners of UniCredit Group since year beginning. "Today the economy of Kyrgyzstan is growing very fast and our bank, which is within the top five major banks of your republic begins active investing" - the leader of bank group UniCredit Group noted. According to UniCredit, the stake of ATFBank on Kazakhstan market is 11.8%. Bank is also working through daughter credit organizations in Kyrgyzstan, Tajikistan and Russia (Omsk). ATFBank was founded in 1995 by the group of Kazakhstan and foreign investors primarily with the aim to provide trade financing. Now bank operates as multifunctional bank, with focus on corporate clients, small and medium business. In the middle of November, 2007 Bank Austria Creditanstalt, the member of UniCredit, purchased 92% shares of ATFBank for $2.118 bn. and aims for the share of 100%. By results of 2007 ATFBank took 21st place on assets volume among CIS banks and 5th place among 35 Kazakhstan commercial banks in Interfax- 1000 ranking: CIS banks, prepared by Interfax-CEA. [2008-07-18]