"BANK TURANALEM" MAKES REAL THE DREAM OF THE ‘GREAT TURAN’
Yerevan, June 26. ArmInfo. ‘Bank TuranAlem’ subsidiary ‘TuranAlem
Securities’ (Kazakhstan) signed an agreemnt with the Turkish Sekerbank
T.A.S. about purchasing 33,98% shares of the latter.
The press center of the bank reports that the property will be
transferred by October 31, 2006. the amount of the deal is $256
million. As for December 31, 2005 the assets of Sekerbank T.A.S.
equaled $2,3 billion, joint stock capital – $261 million. The bank
is the 17-th biggest of 47 banks of Turkey.
Member of the ‘Bank TuranAlem’ Board Erkin Tatishev says that the deal
will promote private investments of Turkish citizens, will extend
the services of the bank provided to the people of turkey and the
CIS. The press release says that BTA considers Turkey as a powerful and
perspective state. The commodity turnover between Kazakhstan and Turkey
reached $557 million last year, and the Turkish investments into the
economy of Kazakhstan made up $900 million over the recent 12 years.
The purchase of the shares of a Turkish bank will extend the geography
of TuranAlem to 9 countries, including Russia and China.
The partners of TuranAlem are: Slavinvestbank, Omsk-Bank,
Agroincombank, BTA-Kazan (Russia), Astana-Eximbank (Belarus), Silk
Road Bank (Georgia), BTA Investbank (Armenia). BTA intends to become
the biggest bank in the CIS. The bank has representations in Russia,
Ukraine, Kyrgyzstan, Ukraine, Armenia, Tajikistan, Georgia and China.
BTA-Bank assets are $9,2 billion, aggregate shareholders’ capital –
$1,6 billion. The Armenian branch of the bank is rather weak and
is on the one but last position in the rating list of the Armenian
banking system.