Bank TuranAlem JSC first among Kazakhstan private banks starts building of CIS banking network - press-release

/IRBIS, Natalya Kuznetsova, November 30, 04/ - Bank TuranAlem JSC, whose securities are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, today spread press-release about its plans concerning realization of the strategy of banking network building in CIS. As chairman of the bank's board Yerzhan Tatishev has said, these plans have been approved by the bank's international shareholders (among which Raiffaisenbank, IFC, EBRD, German and Dutch financial companies DEG and FMO) and are the base of the bank's development strategy on the territory of CIS. The press-release says the bank has already started building banking network in CIS. Strategic partners are Slavinvestbank (Moscow), Transbank (Kiev), Astana-Eximbank (Minsk), since November - Omskbank. Nearest plans comprise opening of subsidiary banks in Azerbaijan and Armenia. Besides, representatives in Bishkek, Kiev, Moscow and Minsk are functioning already. Representatives in Baku, Yerevan, Kazan and Yekaterinburg are to be founded. Bank TuranAlem JSC plans the quick and successful competitive entering the banking systems of CIS countries. The bank does not strive for opening subsidiary banks from the beginning, but prefers to buy ready ones. As the managing director of Bank TuranAlem JSC Jamilya Sarsembayeva says, Bank TuranAlem JSC needs banks in Russia, which already have initial client base for business development at domestic market. While purchasing a bank Bank TuranAlem JSC pays much attention upon "cleanness" of domestic bank's shareholders, their positive reputation. 1 year after purchasing the control shareholding is enough for Bank TuranAlem JSC to make "a good" regional bank. Universal banks with strong regional positions, which have 5% stake of domestic market are most attractive for Bank TuranAlem JSC. At Russia's markets Bank TuranAlem JSC plans to actively use its competitive advantages - long money for 5-10 years, experience in organization of syndicated loans, technologies of trade financing. Bank TuranAlem JSC was founded in 1925. At present the bank serves about 30% of Kazakhstan economy. Within 2003 and 2004 total credit resources given to Russia's banks and companies exceeded USD500 m. Bank's assets as of November 1 of 2004, which were calculated in compliance with international standards, exceeded $4 bn. (5th place in CIS among private banks). [2004-11-30]