ATFBank (Kazakhstan) increases capital by $30 m., plans purchases

/REUTERS, Almaty, April 12, 04/ - ATFBank, the fourth by the size in Kazakhstan, has increased authorized capital by $30 m. having offered shares and deposit receipts (GDR), the bank informs. "Increasing of the capital by $30 m. has been almost finished, partially - due to depository receipts", - said chairman of the bank's Board Timur Isatayev at the press-conference on Monday. According to his words, stake of GDR was about $20 m. Bank's shareholders equity by the beginning of 2004 was KZT8.34 bn. (about $60 m.). ATFBank has also almost finished purchasing of 53% of shares of Kyrgyz Energobank for $1 m. and does not exclude new purchases, in particular, of bank in Russia and the stake in the biggest Kazakhstan State accumulative pension fund (SAPF), which the government intends to privatize. "Bank's governing body has decided to have a stake in the capital of one of pension funds", - said Isatayev. "We are ready (to participate in privatization of SAPF)", - he added. According to Isatayev's words, the bank has also opened a representatives in Moscow. "The next logical step will be participation in the capital (of Russian bank)", - said the head of ATFBank. Biggest Kazakhstan Kazkommertsbank and TuranAlem already have stakes in capital of Russian banks. ATFBank in 2003 increased net income up to $10 m. Bank's assets by the beginning of 2003 equaled to about $670 m. On Wednesday the bank intends to start the road-show of debut eurobonds for $100-150 m. with the term from three to seven years. [2004-04-12]