ATFBank OJSC (Kazakhstan) plans to acquire controlling interst of Energobank OJSC (Kyrgystan)

26.09.03 00:00
/IRBIS, September29, 03/ - ATFBank OJSC (Almaty), whose securities are circulating under official "A" listing category of Kazakhstan Stock Exchange (KASE), spread a press release which mentions the bank's intention to buy controlling interest of Energobank OJSC (Kyrgystan). "The deal will allow Energobank, which is in top five banks of Kyrgystan, to compete with other banks more successfully, offering its clients project financing, leasing, mortgages and consumer loans, payment cards and other banking products", the message mentions. At present time active preparation works and needed measures concerning this issue are undertaken. The main idea here is to make the technology and standards of serving clients of ATFBank accessible to Kyrgyztan citizens. ATFBank OJSC has successful experience on acquisition of other banks' sharing interest. Thus, in 2001 the bank purchased 100% of Kazprombank OJSC's shares, as a result of which the latter was annexed to ATFBank OJSC. In 2002 the bank went through reorganization by affiliating Bank Apogey OJSC. According to the interim financial statements for the first half of 2003 audited by Ernst&Young, total assets of ATFBank as of July 1, 2003 exceeded KZT69 bn, and the growth (in comparison with the beginning of the year) constituted to 19%. Bank's shareholders' equity exceeds KZT7.0 bn. Thanks to increasing financing of real sector of the economy, the loan portfolio of the bank has increased substantially - by 27% to KZT46 bn. [2003-09-26]