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Bank TuranAlem, JBIC signed Memorandum of Understanding

22.08.2007 / Press-service

On August 22, 2007 Chairman of Management Board of Bank TuranAlem (BTA) Roman Solodchenko and International Relations Director of Japan Bank for International Cooperation (JBIC) Toshiyuki Kosugi signed a Memorandum of Cooperation.

The parties have agreed to enhance coordination of their efforts and facilitate effective cooperation in international financial operations. The MOU contains root principles governing cooperation activities of the parties.

The document marks a milestone in relations with JBIC, one of major strategic partners for BTA. Moreover, JBIC is among key participants of the atomic energy industry of Kazakhstan within a number of agreements signed with Japan.

It is a reminder that BTA and JBIC launched successful cooperation in October 2003, and in 2004 the parties signed a USD40 million loan agreement.

BTA is among biggest banks in the CIS with leading positions in creation of banking network. As of May 31, 2007 its consolidated assets amount to $22,100 million, equity capital made $2,379 million.
Bank TuranAlem operating in the CIS and far-abroad countries is expanding into the CIS countries. Activities of its strategic bank partners cover Ukraine, 4 regions in Russia, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA runs its representative offices in Russia, Ukraine, China and the United Arab Emirates.
In Kazakhstan, BTA’s network consists of 22 branches and 249 cash settlement units.

Japan Bank for International Cooperation (JBIC) is among biggest state-owned banks of Japan. It was set up in October 1999 through the merging of the Export-Import Bank of Japan (JEXIM) and the Overseas Economic Cooperation Fund, Japan (OECF). JBIC focuses on financing of major projects engaging Japanese companies.