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Kazakhstan banks start to service Tengizchevroil employees

13.09.2006 / Press-service

On August 23, 2006 Kazakhstan Bank TuranAlem signed an agreement on cooperation with "Tengizchevroil" PLC (TSO). Until recently almost 3.5 thousand employees of one of the largest oil companies of Kazakhstan are starting to be served in the Kazakhstani banks. Management of the joint venture decided to diversify the risks, thus banks of Kazakhstan "big three" were allowed to work with TSO for the first time.

Saduakas Mameshtegi, Chairman of the Management Board of JSC "Bank TuranAlem", comments: "Already in 2003, we started to work on attraction of "Tengizchevroil" PLC to salary and other projects for employees of the company. First results were achieved in the end of August 2006, when representatives of BTA won the tender for salary project, together with KKB, the second participant of the tender. There will be no administrative pressure on employees on no account and every employee will decide, on his own, which bank is more appealing to him. It is a very important fact for our finance system that the company with Western management system started to cooperate with local banks in the field of retail banking."

For explanation of advantages and feature of retail banking products, BTA staff started to conduct presentations for TCO employees in TCO head office in Atyrau, as well as Tengiz oil field.

JSC "Bank TuranAlem" is the system-making bank of Kazakhstan and the leader in creating a banking network in the CIS countries. As of September 1, 2006, BTA's assets exceeded USD 10.7 bn, while its total capital exceeded USD 1.7 bn. Among Kazakhstan's second tier banks, JSC "Bank TuranAlem" confidently holds the leading position in trade financing, SME lending and mortgage loans. Development strategy of Bank TuranAlem proposes geographical diversification and expansion of the range of banking products, as well stable dynamic growth.