Bank TuranAlem JSC on August 24 will open representative office in Baku

/INTERFAX-KAZAKHSTAN, Baku, August 10, 05/ - Kazakhstan commercial bank TuranAlem (BTA) officially will open representative office in Baku on August 24, informed bank's representative Interfax-Azerbaijan agency. "Official inauguration of Baku representative office of bank TuranAlem will be held in Europe hotel on August 24", - representative's employee said. It is assumed, that BTA management will take part in ceremony. To the moment of opening of representative office BTA intends to get permission of the National bank of Azerbaijan to work in the republic. Main direction of TuranAlem's activity in Azerbaijan will be operations on trade financing. In this connection BTA plans to collaborate with leading banks of Azerbaijan. Earlier deputy director of credit organizations supervision department of the National bank of Azerbaijan (NBA) Zakir Kyazymov informed, that NBA has already got all necessary documents from Kazakhstan bank to establish representative office in Baku. Country' ministry of justice registered representative office in July. Bank TuranAlem is one of the three biggest banks of Kazakhstan and realizes business development strategy in CIS countries. Shareholders of TuranAlem are Eurasian bank of reconstruction and development, International financial corporation, Raiffeisen Zentralbank Oesterreich, German DEG, a number of legal entities and individuals, and also bank's management. [2005-08-10]