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Tbilisi: Georgian and Kazakh Presidents launch hotel Iveria and Republic Square construction works
President Mikheil Saakashvili and the visiting Kazakh President Nursultan Nazarbayev on October 3 symbolically launched the hotel Iveria and the whole Republic Square construction works.

London/Moscow: Fitch assigns local currency ratings to four kazakh banks
Bank Turan Alem ("BTA") have been assigned a Long-term Local Currency rating of 'BB+' with a Stable Outlook. The other ratings of banks are affirmed at Long-term Foreign Currency BB' with a Stable Outlook, Short-term 'B', Individual 'C/D', Support'

ALMATY: Kazakh TuranAlem plans $3 bln bond issues - exchange
Kazakh bank TuranAlem will ask shareholders to approve a three-year programme of eurobond issues worth $3 billion next month, the Kazakh stock exchange said on Wednesday. "Votes will be counted on Sept. 15," the exchange said in a regulatory announcement. It said the eurobond issues would be carried out under the Euro Medium Term Notes Program.

ALMATY: Kazakh TuranAlem H1 net profit soars 2.3 times
Bank TuranAlem, Kazakhstan's second-largest bank, increased its net profit 2.3 times to 9.36 billion tenge ($69 million) in the January-June period compared with the first half of 2004, it said on Monday

Fitch Ratings, the international rating agency, has today assigned Kazakhstan's Bank Turan Alem ("BTA") ratings of Long-term foreign currency 'BB', Short-term 'B', Support 3', and Individual 'C/D'. The Outlook on the Long-term rating is Stable.

BELGRADE: EBRD-Kazakh TuranAlem plans $350 mln Eurobond
TuranAlem, Kazakhstan's No.2 bank, plans to issue a three-year floating-rate Eurobond with a volume of $350 million, chairman Saduakas Mameshtegi said on Monday. Mameshtegi told reporters on the fringes of the European Bank for Reconstruction and Development's annual gathering in Belgrade that the offering would probably take place in the autumn. "I think the volume will not exceed $350 million. We are counting on investors in Southeast Asia," Mameshtegi said. TuranAlem issued a $350 million Eurobond at the beginning of this year, and its total borrowing plan for this year is $1.5 billion

ALMATY: ANALYSIS-Western banks size up promising Kazakh market
Western banks, lured by Kazakhstan's bright economic performance, are trying to increase their presence in the country, while local banks are seeking new investments to boost their capital. This mutual interest prompts active acquisition talks but will not necessarily result in multiple takeovers, as both sides have other options to pursue, bankers working in Kazakhstan say. Only a few years ago the top three banks accounting for about 60 per cent of the system's assets -- Kazkommertsbank, TuranAlem and Halyk -- entered the $1 billion bracket. Today, their balance sheets range from $3.5 billion to $5.0 billion.

Almaty: INTERVIEW-Kazakh Turanalem sees '05 net profit up 40-50 pct
One of Kazakhstan's biggest banks, Turanalem, expects its 2005 net profit to increase 40 to 50 percent from last year's $55 million, Chairman Saduakas Mameshtegi said. "We expect our assets to increase to $6.5-7.0 billion and a proportional profit growth," Mameshtegi told Reuters in an interview. Turanalem's assets amounted to $4.76 billion by the end of 2004. Mameshtegi said the bank planned a public offering abroad eventually but in the near future it would rely on funding from current shareholders, including Raiffeisen Zentralbank Oesterreich of Austria and the European Bank for Reconstruction and Development

Tbilisi: The Kazakhstan Bank Comes to Georgia
A Conference was held on 22 March 2005 in Tbilisi on the occasion of signing memorandum on the strategic partnership in banking sector of Georgia. The memorandum was signed by the Georgian group of Silk Road companies (SRG) and Kazakh "BankTuranAlem" (BTA). It was agreed that a strategic partnership will be carried out through a joint participation in the authorized capital of the Silk Road Bank, which will be renamed as BTA Silk Road Bank, with BTA owning 49% and SRG - 51%.

London: Kazakh home-buyers get new loan options
EBRD lends $10 mn to Kazakh mortgage firm to boost funding for individuals. The European Bank for Reconstruction and Development is lending $10 million over 10 years to Kazakhstan’s JSC BTA Ipoteka, the country’s only specialised mortgage bank. This is the first loan to a Kazakh financial institution with such a long maturity. The money will be lent on to individuals buying or repairing their homes. This financing will both promote the development of a key banking product for individuals and support the housing market, especially outside Kazakhstan’s two most important cities, Almaty and the new capital, Astana

ALMATY: Kazakh TuranAlem says to borrow for growth
Bank TuranAlem, Kazakhstan's second largest bank, said on Wednesday it planned to raise at least $950 million on international financial markets later this year to sustain its rapid growth. The bank said this sum included a three-year, $350 million Eurobond to be launched in the second half of this year and syndicated loans worth up to $500 million, to be attracted from a number of Western banks over the same period. TuranAlem Chief Executive Saduakas Mameshtegi told a news conference that the bank also planned to launch three-month promissory notes worth a total of 3.0 billion Russian roubles later this month. He said the bank was also considering a five-year issue of rouble denominated bonds worth up to 10.0 billion roubles ($355 million), but gave no further detail

ALMATY: Kazakh TuranAlem 2004 net profit surges 46 pct
Bank TuranAlem, Kazakhstan's second-largest bank, raised its net profit by 45.8 percent last year to 7.03 billion tenge ($51.7 million), it said in a regulatory statement on Tuesday

BANGALORE: New Issue-TuranAlem Finance prices $350 mln 2015 bond
Following are terms and conditions of a bond priced on Friday

ALMATY: Kazakh TuranAlem bank to borrow $1.5 bln abroad
Kazakhstan's second biggest bank, TuranAlem plans to borrow up to $1.5 billion on foreign markets this year and not up to $3 billion as previously reported, the bank said on Tuesday. "The bank intends to borrow up to $1.5 billion in foreign markets through various financial instruments, including eurobonds, syndicated loans and a Russian rouble denominated bond offering," the bank said in a statement

LONDON: Kazakhstan's TuranAlem bond roadshow starts Jan 20
Kazakhstan's second largest bank, TuranAlem, will begin a roadshow for its planned $200 million dollar-denominated Eurobond on Jan. 20 in Singapore, a source familiar with the details of the deal said on Tuesday. The maturity for the bond is expected to be between seven and ten years, the source said. The roadshow moves to Hong Kong on Jan. 21, New York on Jan. 24, Boston on Jan. 25, Geneva and Zurich on Jan. 26, and ends on Jan. 27 in London. Lead managers of the deal are ING and JP Morgan

LONDON: Turanalem seen mandating ING, JP Morgan for bond
Kazakhstan's second largest bank, Turanalem is believed to have given a mandate to issue a seven year Eurobond of approximately $200 million to ING and JP Morgan, a source familiar with the deal said on Tuesday. The bank said in late December that it may borrow up to $3 billion on foreign markets in 2005, the Kazakh Stock Exchange said on Dec. 23