Republic's investment state bank comes to Russia and CIS countries after commercial credit organizations of Kazakhstan

/RBC, Svetlana Barsukova, January 25, 05/ - One more Kazakhstan bank comes to Russia. As RBC daily came to know, till the end of February the republic's government is to confirm the program on coming of Development Bank of Kazakhstan to near foreign countries markets (including Russia). DBK itself at present does not disclose details of the future expansion. However experts assume, most probably, the speech is about investments into agricultural projects with participation of small enterprises of initial manufacture. At that RBC daily does not exclude that while conquering Russian market the new player will use the banking network built by other Kazakhstan credit organizations. Development Bank of Kazakhstan (DBK) is the state bank founded three years ago especially for crediting companies of non-extracting branches of economics. They are textile, wood, chemical industries, production of plastic goods, machines and electric equipment. About 80% of its capital is controlled by the republic's government, the remaining part belongs to akimats (local governing institutions) of Kazakhstan regions. Bank's activity obeys the law "About DBK". In accordance with it, bank acts as CJSC, and its whole capital belongs to the republic. Bank must not attract deposits. Bank's announced capital is equal to USD250 m. The other days bank declared about its plans to come to the markets of near foreign countries, including Russia's one. As analysts and market participants say, it's not surprising that bank is interested in RF because Kazakhstan economics development rates are much higher than Russia's and are ones of the highest among the countries of the former USSR. "There is excessive liquidity in Kazakhstan, so Kazakh banks try to use these funds on other markets - in their country they have almost nothing to invest them into. In Siberia regions they have already become the biggest investors, - director of consulting company "FINIST" Mikhail Smirnov said to RBC daily. - hey can't create their own assets quickly, however they get access to technologies and capacities, which afterwards, probably, will give them good profitability and will support Kazakhstan economics". Representatives of DBK keep from giving details of the expansion saying the government has not confirmed the necessary conception yet. As director of DBK's strategic planning department Galina Musenova has told to RBC daily, it will occur approximately by the end of February. But at present, as Musenova says, DBK has no financed project abroad. She has not specified what interest exactly DBK has in Russia, having noted that DBK "did not schedule their (interests) on each state separately". "Bank specializes in the objects of infrastructure and manufacturing industry. So our foreign projects will be concerned with it", - she said. Analysts suppose DBK, most probably, will invest funds into agricultural projects with participation of small companies of initial manufacturing, which are situated in southern regions, including boundary ones, - Saratov, Volgograd, Orenburg regions. However they do not exclude tat expansion will take place through banking networks, which other credit organizations of Kazakhstan are creating now in Russia. Such the networks are built by republic's two biggest credit organizations: Kazkommertsbank and TuranAlem. The latter one intends to increase the number of its subsidiary credit organizations up to 15 in the nearest future. As some analysts say, actions of commercial and state banks may be coordinated. "It's not a secret that TuranAlem and Kazkommertsbank are affiliated with certain groups. TuranAlem has already created a serious branch network in Russia having created the possibility to investments in Russia's regions not only its own funds, but funds of other Kazakhstan credit organizations as well. It's not excluded this infrastructure will be used by DBK", - says Mikhail Smirnov. Analyst of Pallada Esset Management CJSC Alexey Suvorov agrees with this idea. "Most probably credit organizations will work in tandem, also using TuranAlem's network. I think it's not occasional that plans of the country's biggest bank were announced first, and then plans of the state bank", - he said to RBC daily. Besides, analysts are sure, presence of DBK in Russia's regions will let Kazakhstan government hold the hand "on pulse" - i.e. "have the possibility to buy these enterprises from today's owners if these owners think about going out of business". [2005-01-26]