Alliance Bank OJSC (Kazakhstan) has informed about main results of activity in 2002

/IRBIS, February 7, 03/ - Today Alliance Bank OJSC (Almaty) distributed press- release, in which there are main results of the bank's activity in 2002. In particular it is informed that during the past year the bank achieved significant success in its development, despite the fact it is a new player of Kazakhstan banking market. The bank's assets during the past year increased 2.8 times, having equaled to KZT21.98 bn. As of February 1 of 2003 assets reached KZT23.13 bn. The bank's deposit portfolio within similar period increased 2.8 times and by the end of 2002 is estimated at KZT16.7 bn. During December of the past year deposit base increased by about KZT1.4 bn. Income of Alliance Bank OJSC, which is concerned with interest receiving, during 2002 increased by 73%. In November of 2002 Alliance Bank OJSC made the second shares issue for KZT820.8 m, having increased its authorized capital up to KZT2 bn. "It, together with increase of reserves and profit, caused growth of shareholders equity more than one time and a half and now it is equal to KZT2.07 bn", - says the press- release. As the result of shares floatation the bank obtained new shareholders in the person of large Kazakhstan companies, such as Rakhat OJSC, group of companies "Ant" and other. Besides the bank reminds that in the end of November of 2002 it borrowed syndicated loan from leading Russian banks in the amount of $6 m. The loan has been given by syndicate of banks for the term of 6 months with the option to prolong for 6 months. Interest rate on the loan is three-month libor + 4%. Agent of the deal was the leading Russian investment group "Renaissance Capital", and number of the syndicate's participants comprised outstanding Russian banks Trans Credit Bank OJSC and Bank "Russian Standard". [2003-02-07]