OREANDA-NEWS. On August 23, 2007 Bank TuranAlem JSC (Almaty), securities of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list had spread the press-release with following contention, reported the press-centre of KASE:

On August 22, 2007 Chairman of Board of Bank TuranAlem JSC (BTA) Roman Solodchenko and Directors of International relations department of Japan Bank for International Cooperation, JBIC Toshiyuki Kosugi had signed the memorandum about understanding.

According to the given document, sides agreed upon strengthening of coordination in their work and creation of basis for effective cooperation in the field of international financial operations. In the Memorandum are listed the main principles to which sides will follow in their activities.

Signing of the memorandum about mutual understanding is the important stage in relations with JBIC, which is one of strategic partners of BTA. Moreover, JBIC is one of the main participants in the frames of number of agreements signed between Kazakhstan and Japan in the field of atomic energy.

Let us remind that cooperation between BTA and JBIC successfully had started in October 2003, and in 2004 as the result of negotiations was signed the credit agreement for amount of $40 m.

Bank TuranAlem JSC (BTA) is one of the largest banks and leader in creation of banking network on the territory of CIS countries. Consolidated assets of Bank as of May 31, 2007 totaled $22,100 m., shareholders equity - $2,379 m.

Bank TuranAlem presenting in CIS countries and far abroad, is widening its presence in CIS countries, about which can be judged by presence of banks' network - strategic partners of BTA, activity of which spread on Ukraine, 4 regions of Russia, Byelorussia, Georgia, Armenia, Kirgizstan and Turkey. Representatives of BTA are working in Russia, Ukraine, China and UAE.

Bank TuranAlem has the branchy network of subsidiaries all over Kazakhstan (22 subsidiaries and 249 cash-settlement offices).

Japan Bank for International Cooperation, JBIC - is one of the largest state banks of Japan. Was created in year 1999 by fusion of Export-import bank of Japan (Eximbank) and Fund of international economic cooperation (FIEC). Main direction of activity of JBIC is financing of big projects with Japanese participation.