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"Bank TuranAlem" JSC attracts DEG loan for USD 82 million

11.01.2008 / Press-service

"Bank TuranAlem" JSC has entered into loan agreement with international organization DEG (Deutsche Investitions Und Entwicklungsgesellschaft MBH, Germany) to attract loan for USD 82 mln. The Bank is intended to apply attracted funds for financing SMB projects as well as retail loans, student’s and mortgage loans issue.

The loan shall be applied in two sub-loans. Sub-loan А for the purposes of SMB financing, retail business and student loan expansion shall comprise USD 41 mln. for 5 years period.

Equivalent amount will be provided within sub-loan B for 10 years period. These funds shall be applied for the purpose of mortgages financing.

The Bank has succeeded in attracting this loan in terms of its strategy to expand SMB projects financing as well as retail banking business. These sectors together with corporate sector are of high priority for BTA. As at October 01, 2007 SMB share in the bank’s loan portfolio amounted to 11%, and retail business – 23.5%. BTA is the leader among other commercial Kazakh banks on realizing student loan program. Bank’s share in this market segment at November 2007 amounted to 54.9%.

"DEG/KfW Transaction once again demonstrates interest and trust of international investors to Kazakhstan, in particular to BTA, despite recent adjustment in the financial markets", said Timur Sabyrbayev, Head of International Relations and Trade Finance Division of "Bank TuranAlem" JSC.

"Bank TuranAlem" JSC (BTA) is among largest banks and leader in creation of banking network within CIS. According to tentative data, BTA consolidated assets soared by 47.4% over the first nine months of the year making USD 24,087 mln. as of October 1, 2007, capital rose by 2.4 times to reach USD 3,614 mln. BTA cleared USD 487 mln profit as of the reporting date, a double year-on-year increase.

BTA operating in the CIS and far-abroad countries is expanding into the CIS. Activities of its strategic bank partners cover Ukraine, 4 regions in Russia, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA also runs its representative offices in Russia, Ukraine, China and the United Arab Emirates.

In Kazakhstan, BTA’s networks consist of 22 branches and 260 cash settlement units.

Reputed Itogi magazine named Bank TuranAlem "Bank of the Year in CIS 2007" Meanwhile, Euromoney declared BTA as "Best Bank in Central Asia 2007". BTA also appears in the Banker’s TOP 300 and ranks the third in its Highest Movers rating. The Europe Business Assembly (EBA, Oxford, UK) has named BTA ‘the Best Enterprise of Europe’ in the Eurasian banking sector.

DEG is a member of KfW banking group and one of the largest European financial institutions for development for long-term projects. For more than 40 years DEG has been financing and structuring investments into private companies in the developing countries. DEG works with more than 1200 companies. Total financing amount has reached to some EURO 41 bln.