Bank TuranAlem intends to open brunch in Georgia

/IRBIS, November 19, 04/ - Information below is translated abstract of REUTERS news. One of the largest banks in Kazakhstan - TuranAlem - intends to open representative office in Georgia, and then also a branch, said to Reuter head of supervision department of the National bank of Georgia Murtaz Kikoriya. "I think that representative office of the bank TuranAlem will be open in Tbilisi at the end of the current year, and in the next year, probably, also a branch will be opened", - said Kikoriya. Among shareholders of the bank TuranAlem are European bank of reconstruction and development (EBRD), German Raiffaizen bank (RZB), International financial corporation (IFC), Investment company of the government of Germany (DEG), Holland bank of development (FMO). At present time in Georgia works 22 commercial banks, two from them are branches of foreign banks. Total assets of all commercial banks of Georgia increased during a year, as of October 1, 2004 in national currency by 36.5%, and in foreign currency - by 19%, and equaled to 1.537 bn. lari (more than USD800 m.). For the first ten it is more than 90% of total assets of banking system. [2004-11-22]