Bank TuranAlem JSC (Kazakhstan) informed on new shareholders of BTA Leasing JSC

/IRBIS, Natalya Kuznetsova, April 8, 05/ - Bank TuranAlem JSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's (KASE) "A" listing category, informed KASE about conclusion of Agreement between Bank TuranAlem, Corporation ORIX, International Financial Corporation (IFC), OIRX Leasing Pakistan (OLP) on purchase and subscription of shares of BTA Leasing. Size of authorized capital of BTA Leasing increased up to KZT1.3 billion. After conclusion of the agreement, stakes in the capital were distributed among: Bank TuranAlem - 45%, Corporation ORIX (Japan) - 35%, OIRX Leasing Pakistan (Pakistan) - 10%, International Financial Corporation - 10%. It is a first participation in leasing company of Kazakhstan for IFC and ORIX. For ORIX corporation this is a first ever experience in CIS countries. The parties also signed agreement on technical assistance with ORIX corporation stipulating adoption of 40 years experience of ORIX on the leasing market and technologies. The technical assistance would include exchange visits of employees, their probation in ORIX offices around the world. At the same time, BTA Leasing and IFC intend to sign loan agreement for a total of $5 million and 7-year period. BTA Leasing plans to receive loan agreements from various financial institutions and expand activity on Kazakhstan Stock Exchange market. The bank also presented information about parties of the Agreement. International Financial Corporation, IFC (www.ifc.org) is a member of World Bank group, head office located in Washingtone. IFC was created in 1956. It is a shareholder of Bank TuranAlem. In October of 2003 IFC jointly with USA Agency for International Development (USAID) initiated leasing development project in Kazakhstan. The purpose of the project was creation of favorable legal and economic conditions for leasing in Kazakhstan. IFC has conducted researches of the leasing market during 2 years. BTA Leasing was selected as a potential partner on Kazakh market. IFC was an initiator of the Agreement and brought ORIX for cooperation with BTA Leasing. ORIX Corporation (www.orix.co.jp) was created in 1964 in Tokio (Japan) as a company rendering financial services in more than 20 countries of the world. ORIX is a pioneer in development of leasing services in Japan. Later it developed into leading company in the field of broad range of products and services for corporate and retail businesses including: leasing and other corporate financing, property management and development, insurance and investment products. Businesses of Corporation ORIX include leasing, rent, fixed income investments, financing of air and sea shipping, mortgage and property services. ORIX Leasing Pakistan (OLP) was created in 1986. The company's shares are listed at Stock Exchanges of Lahore and Islamabad. Founder of the company is Corporation ORIX (Japan). Bank TuranAlem JSC is one of the largest commercial banks in Kazakhstan and CIS (takes 6th place among private banks in CIS). As of January 2005, the bank's assets totaled $5.0 billion, gross equity capital exceeded $600 million. The bank has developed branch network consisting of 22 branch offices and 188 cash settlement departments and 5 affiliated banks and 10 representative offices in CIS countries and China. In this year the bank celebrates 80 years anniversary. BTA Leasing was created in 2000 as daughter leasing company of Bank TuranAlem. The Company successfully operates on financial market. BTA Leasing is largest leasing company (created with banks' affiliation) in Kazakhstan in terms of the size of equity capital. In 2004 the company took 1st place among leasing companies in terms of volume of leasing portfolio and project financing. As of the Agreement date, the company's assets totaled KZT4.4 billion, accumulated profits reached KZT300 million. BTA Leasing JSC has developed network of branch offices in Kazakhstan. Loan policy is oriented on development of small- and medium-scale businesses. [2005-04-08]