The TuranAlem bank (Kazakhstan)
intends to open an affiliate in Ukraine.
Kazakh President Nursultan Nazarbayev announced this addressing a business
forum on the new opportunities of Kazakhstan
- Ukraine
business cooperation.
"The issue is being solved on opening an
affiliate of the bank in Ukraine...
I would ask for support to this effort," Nazarbayev said. He noted that
earlier, in 2002, a representative office of the bank opened in Ukraine.
As Ukrainian News reported, TuranAlem is the second largest bank in Kazakhstan,
after Kazkommertsbank. TuranAlem owns assets worth over USD 3 billion. Five
Western investors own a 25-percent stake in TuranAlem: the European Bank for
Reconstruction and Development, Raiffeisen Zentralbank, DEG (Germany), FMO (the Netherlands), and the International
Finance Corporation (part of the World Bank group).
Kazakh corporate entities and individuals,
including the bank's management and employees, own 75% of the shares in
TuranAlem.