OREANDA-NEWS. Alliance Bank and National City Bank (USA) have signed a 7 year USD 30 million bilateral loan agreement guaranteed by Overseas Private Investment Corporation (OPIC) - the government agency of the USA within the Global Framework Agreement (GFA) - Kazakhstan's stock exchange (KASE) reports.

The loan will be used to support the development of retail business of Alliance Bank which has a leading position in retail lending in Kazakhstan with more than 20 % market share.

This is a second transaction for Alliance Bank where OPIC acts as guarantor. In May 2006, the Bank signed a bilateral loan agreement with Wachovia Bank, National Association for USD 16 million, covered by an OPIC guarantee.

"In the current volatile conditions on the international capital markets even a small loan but with long tenor and advantageous rate is a signal that attitude of the foreign investors towards banking sector of Kazakhstan is gradually changing to a positive side, it is also proves their trust to Alliance Bank  as one of the most steady and reliable financial institution of Kazakhstan," noted Dauren Kereibayev, Chairman of the Board of Alliance Bank.

In September 2007, Alliance Bank was awarded  "Best Retail Bank in Kazakhstan" in the "Leading World Banks in Corporate Governance in 2007" category by Euromoney - an international financial magazine.

According to the non-consolidated unaudited financial statements of Alliance Bank as of October 1, 2007, the assets of the Bank were KZT1,224.7 billion and equity KZT150.1 billion. Net profit of the Bank following the results  of 9 months 2007 totaled KZT30 billion. As of November 1, the current liquid assets of the Bank stood at KZT242. 79 billion, or more than USD 2 billion (official exchange rate of the NBRK - KZT120.89=USD1)

Alliance Bank has the following ratings assigned by international rating agencies:

Moody's Investors Service: long-term foreign currency rating "Aa2", short-term foreign currency rating is "NP" and financial strength "E+";

Fitch Ratings: long-term foreign currency issuer default rating is "BB-" with "Stable" outlook, short-term foreign currency issuer default rating is "B", individual is "D", supporting rating is "3" and supporting long-term issuer default rating is "BB-";

Standard & Poor's: long-term counterparty rating is "B+", short-term rating is "A", with "Stable" outlook.

Alliance Bank is represented by an extensive branch network with 25 branches and 216 outlets in 47 cities and 18 settlements of Kazakhstan. Its customer base consists of more than 2 million.