OREANDA-NEWS. The Chairman of the Board of JSC "Bank TuranAlem" Roman Solodchenko and the Governor of Mangistau Region Krymbek Kusherbayev signed Memorandum on Co-operation in Aktau.

Joint long-term projects in oil and gas industry, power engineering, construction as well as innovation projects for the production of competitive production have been signified as priorities for mutual co-operation.

In addition, to animate work with population, mainly, in mortgage and consumer lending, integrated cash settlement services of budget-supported enterprises and public utilities, special tariff rates will be developed.

"There is no secrecy in the fact that Mangistau region is one of the most strategically important regions of the economy of Kazakhstan. Implementation of the Memorandum will allow for closer interaction between the regional administration and the bank in the matters of information exchange, rendering assistance to the companies engaged in the republic’s production sector. This is a framework document which will be filled up by practical contents as far as it is realized," stated Roman Solodchenko at the signing ceremony.

At the meeting, the parties also noted the achievements of cooperation and weighty contribution of Bank TuranAlem branch to the economy of the region. From 2003, BTA division in Mangistau region extended loans for the total amount of KZT19,34 bln. Meanwhile, only last year that amount comprised KZT7,39 bln.

One of the first and foremost purposes of JSC "Bank TuranAlem" is to create the most favorable conditions for corporate customers and their businesses. BTA actively develops relationships with contractors and sub-contractors of the major oil and gas operating companies. The three-lateral collaboration Oil Operating Company - Bank - Contractor - allows for significant simplification of interaction between the parties, enables oil and gas operating companies to reduce risks of investments in Kazakhstani companies and increase productivity of contractors and sub-contractors at the projects. Contracting companies are capable of receiving financing for the realization of projects and professional financial advices from the bank. All these factors lead to successful implementation of the projects in the agreed terms.

The Bank has provided financial support to a number of major projects in the region on mutually beneficial terms: financing of oil and gas sector - JSC "Karazhanbasmunai," "MobilEx Energy LLP.," "Hasarmunai LLP.," transport sector - Republican state enterprise "Aktau International Trade Sea Port," "Aktau Navigable Service Agency LLP.," construction of new bakery plant, new hypermarket by "Magash Co.," construction of "Aktau Zhyldyzdary" housing estate, new five-star hotel "Grand Victory," "ARS" furniture trade center, "Zhiger" trade center, "Aktau Motors LLP." (distribution company for "Toyota Motors") car trade center. Taking into account the growing importance of development of small ad medium businesses for the economy, the bank has determined this sector a priority. From 2003, Mangistau Branch of JSC "Bank TuranAlem rendered financial aide to small and medium enterprises for the amount of KZT 12,97 bln., including KZT 5,22 bln. - in 2006; and extended loans to population for the amount of KZT6,41 bln., including KZT 2,18 bln. in 2006.

BTA Mangistau Branch began carrying out its operations on March 17, 1999 and now it is represented by 3 retail centers, 2 corporate centers and 2 specialized customer service centers which provide wide range of bank products and services to the population. To extend and improve the quality of customer service the bank plans to open three more cash settlement centers in the region in the second half of 2007. The overall economic growth and consequently increase of population income brought to extension of card business providing opportunity of planning the future economic benefit and expenditures. 111 enterprises - bank customers are provided services under salary projects. The Branch has an extended network of ATMs - 24 ATMs located in different places of the region (this number is planned to be increased to 36 up to the end of 2007).

As at May 1, 2007, the number of BTA Mangistau Branch customers was 21743, including 2177 legal entities and 19566 natural persons.