OREANDA-NEWS. On November 08, 2007 Alliance Bank JSC (Almaty), shares and bonds of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list had provided KASE with the press-release with following contention, reported the press-centre of KASE:

On October 31, 2007 Alliance Bank and National City Bank (USA) 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) with National City Bank

The loan will be used to support 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 the agency of the US government - acts as the guarantor. In May 2006 the Bank signed a bilateral loan agreement with Wachovia Bank, National Association for USD 16 million covered by OPIC guarantee.

"In 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 a "Best Retail Bank in Kazakhstan" in the "Leading World Banks in Corporate Governance in 2007" category by Euromoney - international financial magazine.