Nurtaza Baitenov appointed as Deputy Chairman of Alliance Bank JSC (Kazakhstan)

/IRBIS, Assel Omarova, April 13, 04/ - Alliance Bank JSC (Almaty), whose securities are trade in official "A' listing of Kazakhstan Stock Exchange (KASE) released an announcement informing public about changes in its top management. According to announcement, Nurtaza Baitenov has been appointed as Deputy Chairman of Alliance Bank JSC and now accountable for Financial Planning Department, Accounting and Financial Reporting, International Relations, Risk Management and Logistics. Beginning in May 2002, Nurtaza Baitenov worked as an Audit Partner at Deloitte (Almaty) and was responsible for servicing major Central Asian financial institutions. Mr. Baitenov has a nine-year audit experience with Arthur & Andersen, and is a member of Auditor's Chamber of RK. By the end of 2003, total assets of Alliance Bank JSC were equal to KZT50.3 bn, loan portfolio reached KZT30.6 bn. The Bank launched two regional branches in Atyrau and Karaganda last year; currently manages 9 subsidiaries in major Kazakhstan cities. As of April 1, 2004 total assets - KZT57.1 bn, loan portfolio - KZT36 bn. Moody's Investros Service rated Alliance Bank JSC at E+(financial stability) and Ba3/NP (deposits in foreign currencies). All ratings carry stable outlook. On December 19, 2003 Alliance Bank JSC signed a debut syndicated loan agrrement for $10 m. Loan arranger - Standard Bank London. Syndicate included: Hypo und Vereinsbank AG (HVB Group), Raiffeisen Zentralbank and Union Bank of California. [2004-04-13]