OREANDA-NEWS. On September 05, 2007 Press service of Seimar Alliance Financial Corporation JSC (Almaty) has spread the press release with the following content, reported the press-centre of KASE:

With the goal of unbiased and clear informing of all interested sides, Seimar Alliance Financial Corporation (SAFC) informs the following.

During 2007, SAFC lead the negotiations about purchasing a stake of shares of Russian Petrokommerts bank OJSC with its shareholders – IFH Capital. The deal the structure of which stipulated the purchase of 100% of the bank's shares was planned to be conducted in several stages. The purchase of controlli9ng interest was approved by Federal antimonopoly service of Russia; the corresponding documents have been forwarded in the Central Bank of Russia.

But because of the negative changes of the situation on international financial markets and growing uncertainty of behaviour of developing economies' markets, SAFC took the decision about stopping the negotiations. A letter about that was sent to the bank's shareholders.

Nevertheless, SAFC relies on the opportunity of developing business cooperation with Petrokommerts bank OJSC on different business directions.

At the same time, SAFC intends to continue its work on Russian financial market. As it was announced earlier, the holding purchased 92,75% of StarBank CJSC shares During the last several months, StarBank has achieved a range of positive results. Particularly, StarBank CJSC is included to the ranking of "the biggest banks by the volumes of given mortgage loans and car loans" that was prepared by the REC Rating by the results of the first half-year of 2007.

In June of 2007, the Center Bank of Russian Federation registered the Report by the results of additional issue of common uncertified shares of StarBank CJSC. The total volume of the issue made RUB520 m. By the results of conducted issue, the shareholders' equity of the bank was increased more than ten times and exceeded the level of RUB1,3 bn. In accordance with the plan of regional development, recently, StarBank opened the representations in Ufa city (Bashkortostan Republic), in Cheliabinsk city and in Ekaterinburg city.

In the plans of StarBank is extension of the geography of financial services rendering for the population of Siberia, Ural and Central Privolgie regions. In compliance with its development strategy, the bank is oriented on rendering high quality financial services to the population and to the small-and middle-sized businesses.