Shares of "Bank TuranAlem" (Kazakhstan) are included into KASE official list of securities of category "A"

09.09.99 00:00
/KASE, Sep.09, 99, Galina Chudinova, Nadir Jakupov/ - By the decision of the Exchange's Board of August 08, 1999 common inscribed shares of Open joint stock company "Bank TuranAlem" (Almaty) are included into KASE official list of securities of category "A". The bank is created on January 1997 as a result of a merger between joint stock bank "AlemBank Kazakhstan" and commercial joint stock bank "Turanbank". "AlemBank Kazakhstan" was established in 1990 as a branch of Vnesheconombank in Kazakhstan and served as an agent for the government of Kazakhstan to attract foreign credits under the guarantee of the government. "Turanbank" started its business in 1925 when a branch of Promstroibank of USSR was opened in Kazakhstan, and operated to finance construction works and to serve major enterprises of Kazakhstan. Merger of "AlemBank Kazakhstan" and "Turanbank" was carried out by the decision of the Board of the National Bank of Kazakhstan with the agreement of the government of Kazakhstan. Initially, the bank was registered as a closed joint stock company with 100% of shares belonging to the government. In March 1998 the bank was re-capitalized by the government and privatized at closed auction. 100% of bank's shares were bought by a consortium of private local companies, and on June 06 1998 the bank was re-registered as joint stock company open kind. On September 30 1998 it was re-registered as open joint stock company. "Bank TuranAlem" has a license #225 of the National Bank of Kazakhstan to conduct bank operations in tenge and in currency dated December 17, 1998, and a license #040110010 of the National Securities Commission to conduct brokerage and dealing activities at the stock market with the right to handle clients' accounts dated August 19, 1999, and a license #0407100023 to custodial activities at the stock market dated October 15, 1998. In 1998 EBRD signed a credit agreement with the bank for an amount of $5 mln within the program of trade development aid. In 1999 $10 mln is expected from International Financial Corporation as a credit for seven years. In 1999 the bank made a good use of the second tranche of Asian Development Bank; $7.9 mln was used to finance shipments of high tech equipment for processing agricultural produces. The bank is an agent for the program of Asian Credit Company, financed by Central Asian American fund for support to entrepreneurs, aimed at development of small and medium scale businesses in Kazakhstan. The bank is an authorized bank for servicing the second tranche of the World bank loan "Project for social support". On June 1999 an agreement was signed between the bank and the syndicate of international banks (ABN Amro Bank, American Express Bank Ltd., ING Barings, Dresdner Bank AG, Commerzbank AG, Rabo bank International) to receive $13.5 mln credit. ING Barings is an agent for this deal. As a result, the bank received $13 mln credit (the banks declined $500 thousand). In August 1998 the bank was given a long term debt rating of B by rating agency Thomson BankWatch, and in October 1998 it received B2 rating from Moody's Investor Services, Inc. As of the beginning of this year the bank had 22 branches throughout the republic. The bank maintains correspondent relationships with 230 banks of Kazakhstan, CIS, and with the banks of other foreign countries. Strong ties are maintained with following banks of Germany (Deutsche Bank AG, Dresdner Bank AG, Commertzbank AG), USA (The Bank of New York, Republic National Bank of New York, Citibank, Bankers Trust Company), Great Britain, Switzerland, France, Austria, Holland, Canada, Belgium and Italy. As of December 31, 1998 110 banks from Russia, Kyrgystan, Ukraine, Baltic countries and other countries opened "Lorro" accounts in the bank in tenge and foreign currency. The bank is a member of: "Kazakhstan stock exchange", "Central depository of securities", "Interbank Finance Chamber", Union of legal entities "Association of Financiers of Kazakhstan". The bank is connected to international payment system S.W.I.F.T. and REUTERS. "Bank TuranAlem" received auditor's report from "Arthur Andersen" (Almaty, Kazakhstan) for 1997-1998 based on its financial reports. As of July 01, 1999 the bank's authorized capital equals 8,870.23 mln tenge. According to financial reports dated July 01 1999 the bank has assets worth of 31,336.65 mln tenge (including: liquid assets - 9,091.70 mln, loan portfolio - 9,091.70 mln), owners' equity - 4,864.51 mln, borrowings and deposits - 24,695.49 mln, operational income - 2,857.32 mln, net income of the period - 500.98 mln. Based on the documents submitted to KASE the bank had finished the year 1998 without losses. Three issues of "Bank TuranAlem" securities were registered. Par value of shares of all issues is 10,000 tenge. Method of placement - private. The first issue was registered on February 25, 1997 for 4,700,000,000 tenge and consisted of 470,000 common inscribed shares. Issue placement end date - March 25, 1997. Date when the report was adopted at the National Securities Commission of Kazakhstan - April 21, 1997. The second issue (additional) was registered on August 08, 1997 for 3,020,230,000 tenge and consisted of 302,023 common inscribed shares. The National identification number - KZ1C34920404. Issue placement end date - August 12, 1997. Date when the report was adopted at the National Securities Commission of Kazakhstan - March 23, 1998. On August 05 single identification number was assigned to both issues - KZ1C34920404. On September 30, 1998 the bank was registered as open joint stock company. The third issue (additional) is carried out without state registration for 1,150,000,000 tenge and consists of 115,300 common inscribed shares. Issue placement end date - August 14, 1997. Method of placement - private. The National identification number - KZ1C349204X7. The first two issues are allowed to circulate at the stock exchange, the National identification number - KZ1C34920404. Balance sheet value of one share as of January 01, 1999 equals 4,918.24 tenge, as of July 01 - 5,484.09 tenge. According to bank's charter size, sources and order of dividend payments based on the year-end results are determined by Shareholders' General Meeting by suggestion of Board of Directors. As of the end of 1998 no Shareholders' General Meeting were held. Based on the extract from securities holders register dated August 27, 1999, the total number of bank shareholders is 12, of which following own shares exceeding 5% of the authorized capital: "Semipalatinski Mukomolno- Kombikormovyi Kombinat" (Semipalatinsk, Kazakhstan) - 17.41%, "Yassy" (Turkestan, Kazakhstan) - 17.41%, "Maktaaral" (South Kazakhstan region, Kazakhstan) - 13.06%, "Melkombinat" (Kustanai region, Kazakhstan) - 12.83%, "Shymkentskaya makaronnaya fabrica" (Shymkent, Kazakhstan) - 8.70%, "Araltuz" (Kzyl-Orda region, Kazakhstan) - 8.70%, "Kustanaiasbest" (Almaty, Kazakhstan) - 8.70%, "RESMI KOMMERCE" (Almaty, Kazakhstan) - 5.19%. The bank shareholders' register is maintained by "KAZREGISTER". Trades with common inscribed shares of "Bank TuranAlem" on official list of securities of category "A" begins from September 21, 1999.