Almaty: For the first time Kazakhstan bank credits clients in 12 countries05.12.2005 / Press-service
5 December, Almaty - Starting today, 5 December, clients of Bank ‘TuranAlem’ in 12 CIS countries can receive financing for their export-import contracts.
‘BankTuranAlem’ JSC, Kazakhstan and BNP Paribas SA, France signed a Multisource Framework Agreement for Euro 200 million credit line, for up to 12 years. The aim of the agreement is to support trade contacts between European and Asian countries, to finance commercial contracts for provision of equipment and services with the support of different ECAs.
Providers can be from OSCE, Israel, China or other countries, buyers can be based in any of 12 CIS countries: Armenia, Azerbaijan, Byelorussia, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan.
‘Open credit line will allow our clients to expand the geography of their suppliers and to optimize their calculations’ Zhamilya Sarsembayeva, BTA’s Executive Director, on closing the agreement ceremony.
BankTuranAlem is the system-making bank in Kazakhstan, the leader in establishing its banking network throughout the CIS. Currently BTA’s assets exceed U.S. $6,5 bn, total equity exceeds U.S. $740mm. The world’s leading development and financial institutions (IFC, EBRD, FMO and RZB) are the shareholders of BTA. BankTuranAlem maintains a leading position among the commercial banks in Kazakhstan, with significant dominance in trade finance, SME and corporate finance, mortgage lending. Development strategy of BTA is focused on geographic diversification within the CIS and the broadening the scope of banking products, as well as stable dynamic growth.
BNP Paribas Group was established in 1999 as merger between BNP, established in 1848, and Paribas established in 1972.Today BNP Paribas is the second largest group in the world with USD 1,2 trillion of assets it is one of the best capitalized Bank, USD 2,4 billion. It is the largest Bank in France in terms of assets and the main retail bank of France.