Bank TuranAlem may purchase Kyrgyz bank

/INTERFAX-KAZAKHSTAN, Almaty, April 8, 05/ - Kazakhstan commercial bank TuranAlem (BTA) doe not rule the possibility of acquiring a Kyrgyz bank. "I think that this year we begin searching for potential partners in order to realize our plans on creation or purchasing of bank in Kyrgyzstan", Saduakas Mameshtegi, Chairman of the Board told a news conference Friday in Almaty. He also noted that bank plans to attract its international investors to participate in this deal". BTA head reminded that currently the Bank has a liaison office in Kyrgyzstan which is engaged in analysis of the economy, clients and partners in the republic. BTA realizes its development strategy in CIS countries by actively working both with international banks and FSU partners. In the past two years the bank invested nearly $500 m in CIS enterprises. Private credit lines volumes exceeded $300 m. Currently BTA group has representative offices in Moscow, Kiyev, Minsk, Yekaterinbourg, Baku, Dushanbe, Tbilisi, Bishkek and Shanghai as well as strategic partnerships with Slavinvest, Omsk-bank, Transbank, Astanaeximbank, Georgian BTA Silk Road bank, Kazan-based VKAB and Astrakhan Agroinkombank. Raiffeisen Bank (7% of preferred shares), EBRD, IFC и DEG are major shareholders of the Bank. At current Kazkommertsbank, ATFBank, Halyk Bank and Temirbank have stakes in Kyrgyz banks. [2005-04-08]