Alliance Bank JSC (Kazakhstan) opened a branch in Zhezkazgan

/IRBIS, Assel Omarova, June 2, 04/ - Alliance Bank JSC (Almaty) with shares and bonds listed under "A" official category of Kazakhstan Stock Exchange (KASE) released an announcement, according to which on June 1 of 2004 the bank opened a regional branch in city of Zhezkazgan. The branch in the central part of Kazakhstan has been well equipped with contemporary banking utilities. Zhezkazgan is strategically important industrial center of Kazakhstan with huge potential and promising growing opportunities. Within current year Alliance Bank JSC opened two regional branches in Karaganda and Atyrau, and regional office in Zyryanovsk (Eastern Kazakhstan oblast). Currently, the bank operates 11 regional branches and offices throughout Kazakhstan. The bank considers opening branches in Aktau and Taldykorgan. Recent financial statements reveal that as at year-end 2003 the bank had KZT50.3 bn of assets and loan portfolio of KZT30.6 bn. As at May 1 assets grew to KZT58.7 bn, while loan portfolio totaled KZT38.1 bn. Moody's Investors Service rated the bank at E+ and Ba3/Np. The latter rating reflects bank's ability to met both long-, and short-term deposit obligations. All ratings carry a stable outlook. [2004-06-02]