Kazakh Bank TuranAlem wants to increase syndication volume to $500 m.

/REUTERS, Baku, Rufat Abbasov, August 24, 05/ - Bank TuranAlem, the second biggest in Kazakhstan, wants to increase volume of attracted syndicated loan up to $500 m. from $300 m., TuranAlem executive director Zhamilya Sarsembayeva said to Reuters. "When mandate of syndication organization was given, we planned to get $300 m. But I think, that this volume will be increased to half a billion. Syndicate will be closed on September 15 ", - Sarsembayeva said. Organizers of syndicated loan are, particularly, German bank HVB, American JPMorgan Chase, and also banks from Japan and Near East. Sarsembayeva informed, that in syndication would take part more than 60 banks of USA, Europe and Near East. Earlier TuranAlem announced about borrowings program for this year in the volume $1.5 bn. "But probably, by the end of the year actual volume of borrowings will be more. Because amount of syndications and credit lines for this year is $800 m. and plus eurobonds for $350 m., and internal market", - Sarsembayeva said. Assets of BTA exceed $5.5 bn., total shareholders equity of the bank is more than $600 m. TuranAlem also is the biggest shareholder in a number of banks of Russia, Ukraine and Byelorussia. Its' representative offices are opened in Baku, Tbilisi and Yerevan. [2005-08-24]