Kazakhstan Alliance bank has started floatation of bonds issue for $19.3 m
/Interfax, January 14, 03/ - Kazakhstan Alliance bank has started floatation of
the first issue of subordinate bonds for total amount of KZT3 bn (about $19.3
m) at domestic market, informed the Chairman of the bank's Board Zhomart
Yertayev at presentation of bonds issue on Friday.
"These securities, by the decision of Kazakhstan stock exchange's Council,
already in the end of 2002 were included into stock exchange's official "А"
listing category, - informed the bank's head.
Face value of one inscribed coupon indexed bond is 1 tenge, rate is 9% APR of
bond's indexed face value. Securities circulation term is 7 years, term of
floatation is 3 years. Yertayev informed that assets of Alliance bank according
to results of 2002 were equal to KZT22.5 bn, having increased 2.8 times as much
in comparison with the end of 2001. Such the result, marked the bank's head,
became possible due to increase of credit portfolio and deposit base, volume of
which during the reporting period increased almost three times, having equaled
as of beginning of 2003 to KZT16.7 bn. He noted that at that time the bank,
having financing of projects, was giving the main priority to production sphere
of economics, paying major attention on crediting of small and medium
The bank's shareholders are a number of large Kazakhstan companies, following
are among them: "Rakhat" - largest in the republic producer of confectionery,
group of companies "Ant" - supplier of equipment for enterprises of oil and
mineral resource industry, and also large poultry company "Almaty Kus".
Alliance bank is one of 8 largest banks of the country according to the size of
paid authorized capital, which is equal to KZT2 bn.
Official rate as of January 10 - KZT155.75 /$1.