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BTA totals all pluses and announces its plans on borrowing

03.01.2007 / Press-service

Today, the Deputy Chairman of the Board of Bank TuranAlem Roman Solodchenko summed up preliminary results of borrowing projects at the international capital market in 2006 and disclosed plans for 2007.

The banker reminded that in 2006 the Bank got syndicated loans worth $1. 421 billion. Among them were: Asian loan in the amount of $110 million, Mudaraba Islamic loan in the amount of $200 million and Global syndicated loan worth $1,111 million. In addition, the Bank has placed its $400 million debenture stock (hybrid capital), $250 million seven-year bonds, PLZ 200 million five-year bonds, EUR 500 million five-year Eurobonds, ? 200 million three-year bonds, and YEN 20 billion ten-year bonds.

In 2007, the Bank’s management schedules to drain syndicated loans from foreign banks approximately for a total of USD 1 billion and plans to borrow nearly USD 2 billion at the capital markets. "We have to continue raising funds at the foreign markets with the aim of upholding sustainable growth of the bank and implementation of scale strategic challenges in CIS countries. However we keep deposit share in the total of drained funds at 35%," – said Roman Solodchenko.

The very short 144A-formatted USD bond issue has been scheduled for January. The road show through New York, Los Angeles, Boston and London will start on January 4. The issue has been projected under Global Medium Term Note program. The organizers of the transaction are the investment banks Credit Suisse and JP Morgan.

JSC Bank TuranAlem is the core of financial group covering all market segments. BTA is a backbone bank of Kazakhstan, a leader in development of banking network through CIS. BTA assets exceeded US $15 billion and total equity capital was nearly US $1.6 billion as of the end of 2006. Bank TuranAlem takes absolute leading position in Kazakhstan in terms of trade finance, small and medium business financing, and mortgage. The Bank’s strategic objectives for 2006-2015 imply to reach leading positions in Kazakhstan and other CIS markets in segments of retail banking, small and medium business, corporate banking, and to obtain market shares in Kazakhstan – minimum 25%, in Russia – minimum 2%, in other countries – minimum 5%. The Bank plans to consolidate its total assets and increase it by 2010 up to US $35 billion, and by 2015 – up to US $55 billion.