News

Canadian export finance credit line has been increased in 2,4 times

07.04.2006 / Press-service

JSC Bank TuranAlem and Export Development Canada (EDC) have signed an agreement on alteration into the last year agreement on a credit line establishment in the amount of USD25 million. According to a new agreement, amount of the credit line for export finance of Canadian merchandise and services into Kazakhstan and CIS states has been increased up to USD60 million, either of its equivalent in Canadian dollars or in Euro. "Clients’ demand is growing up" – certifies Timur Sabyrbayev, Deputy Head of Financial Institutions and Global Trade Finance. "A new agreement gives Kazakstani companies an opportunity to finance contracts for a period up to 7 years in three types of currency and ratifies the potential of Kazakhstan and its priority position in Central Asia market".

JSC "Bank TuranAlem" – a system-making bank of Kazakhstan, the leader in creation of banking network in CIS states. Bank’s assets exceed $8 billion; equity capital exceeds $1.37 billion. Bank’s shareholders, being one of the first international banks in Kazakhstan, are the world largest financial institutions. In Kazakhstan the Bank confidently holds the leading position in the realm of trade finance, SME loans and mortgage lending. Bank’s development strategy envisages geographical diversification and the expansion of the range of banking services, as well as a stable dynamic growth.
JSC "Bank TuranAlem" is represented by 7 commercial banks–strategic partners in Russia, Belarus, Georgia, Armenia, and representative offices in Russia, Ukraine, Belarus, Kyrgyzstan, Georgia, Tadzhikistan, Armenia and China. Export Development Canada (EDC) offers trade finance services as well as the management risk service to Canadian exporters/importers in more than 200 countries worldwide. Established back in 1944, EDC is a royal corporation acting as a commercial entity.