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Bank TuranAlem Facelifts its Foreign Representative Offices

28.06.2007 / Press-service

Bank TuranAlem JSC has opted to shake up its representative offices abroad. Thus, its representative office in Russia with a previous target to attract clients in trade finance, research the Russian market and establish contacts with clients in Russia, will be now focusing on drawing clients for BTA projects of investment financing. The Russian office has coped with promotion of trade finance in Russia and from now on BTA Financial Institutions and Global Trade Finance Division is charged in this regard.
Similar changes will be made in the representative office of BTA in Ukraine.

Also in line with a decision of the Management Board of BTA, the Bank closes down its representative offices in Belarus (Minsk), Tajikistan (Dushanbe) and Kyrgyzstan (Bishkek) before July 1, 2007 with a view to enhance its regional chain.

Consequently, functions of majority abolished representatives offices are transferred to the strategic bank-partners of BTA abroad.

Meanwhile, the Bank is committed to its obligations towards its existing partners, including banks. BTA pursues its plans to develop and reinforce cooperation with banks in the CIS countries within credit facilities already lodged and established correspondent relations. At that, the CIS expansion remains among top priorities for BTA.BTA network of strategic bank-partners in Russia covers 4 regions. These are Slavinvestbank PLC (Moscow), Omsk-Bank JSC (Omsk), BTA-Kazan JSC and AgroincomBank OJSC (Astrakhan).Moreover, BTA has strategic bank-partners in Ukraine, Belarus, Georgia, Armenia and Kyrgyzstan.BTA operates its representative offices in Russia, Ukraine, China and United Arab Emirates. In Kazakhstan, its network consists of 22 branches and 244 cash settlement units.Bank TuranAlem JSC is among biggest banks in the CIS with leading positions in creation of a banking chain. As of April 1, 2007 its consolidated assets topped $19.4 billion, equity capital made $2 billion. In 2007, the Bank intends to consolidate its assets in the CIS making it $50 billion by 2015. The Bank envisages a geographic diversification and boom of its financial highlights.