Bank TuranAlem will invest $100 m in Omsk oblast

/INTERFAX-KAZAKHSTAN, Almaty, March 3, 05/ - Kazakh major TuranAlem Bank plans to invest over $100 m in Russian Omsk oblast, Yerkin Tatishev, first deputy Chairman told journalists Wednesday after signing a memorandum of understanding between financial institution and the municipal government of the oblast. According to him the bank plans to boost its presence in the region via Omsk- bank, in which it maintains interest. The range will include trade finance and conventional banking products. TuranAlem will firstly focus on large Omsk corporates. Currently the bank is carrying out a number of investment projects in oblast. In February TuranAlem made a $18 m loan to construction NGO Mostovik and $30 m to Melnitsa AO. Moreover, Kazakh bank built its mortgage book worth 20 m rubles. TuranAlem, the second largest Kazakh bank, is of systematical importance to Kazakhstan economy with huge network consisting of 24 branches and 211 cash settlement units. Bank's major shareholders include the EBRD, Raiffeisen Zentralbank Oesterreich, DEG and FMO. Omsk-bank is rated 252th by Interfax in the lists of Russian banks. [2005-03-03]