ARKA News Agency
Aug 22 2005

A PRESENTATION OF THE TURANALEM BANK’S REPRESENTATIVE OFFICE TAKES
PLACE IN YEREVAN

YEREVAN, August 22. /ARKA/. A presentation of the TuranAlem Bank’s
representative office took place in Yerevan on August 22, 2005. The
goal of opening of an official representative office of the bank is
to ensure high quality bank services, contribute to development of
business relations between the countries, monitor the development of
the national market of financial services of Armenia and look for the
ways to enlarge business of TuranAlem Bank in Armenia.
According to the financial Director of TuranAlem Erick Sultankulov,
“the representative office of BTA in Armenia is a part of the
strategy of the bank “One bank, one account, all the CIS “, implying
establishment of a network of banks- strategic partners of BTA for
servicing economic interests of neighbor countries”. The
representative office of TuranAlem Bank in Yerevan has already
established some long-term contacts with leading companies of
Armenia”.
According to the press release, RA President Robert Kocharyan showed
interest in opening of the representative office of the bank in
Armenia. In particular, during reception of the Ambassador of
Kazakhstan to Armenia in June 2005 Kocharyan mentioned that Armenia
strived for closer cooperation with Kazakhstan and would welcome
joint economic projects and coming of large Kazakh banks to
attractive branches of the economy of the country.
The chief strategic partner of BTA in Armenia is BTA Investbank, the
priority directions of which are medium-term and commercial funding,
hypothec crediting of the population and subjects of small business
aimed at medium-term and long-term funding of acquiring property in
the country.
TuranAlem Bank is a Kazakh bank, leader in creation of a bank network
in the CIS. The assets of BTA amount to $5,5 bln., aggregate capital
of the bank exceeds $600 mln.. Among the shareholders of the bank are
EBRD, RZB, FMO, IFC.
The group of banks – strategic partners, in the capital of which BTA
has its share, are also Slavinvestbank (Moscow), Omsk -bank (Omsk),
Astanaeximbank (Minsk), Agroincombank (Astrakhan), BTA -Kazan
(Kazan), ÁÒÀ Silk Road Bank (Georgia). A.H. –0–

From: Emil Lazarian | Ararat NewsPress