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Competitive solutions by Bank TuranAlem in the field of SME lending in Kazakhstan presented at republican conference

26.04.2006 / Press-service

JSC "Bank TuranAlem" took part in republican conference "Participation and development of small and medium enterprises in non-specialized assets of large Kazakhstan companies". Bank TuranAlem presented new schemes of SME financing. The programme was designed for Central Kazakhstan region and heads for development of enterprises in social sector and companies ready to be contractors for large industrial companies of the region.

The main advantage of the financial scheme is lower interest rates than from second-tier banks credits and the opportunity to finance starting business of JSC "Mittal Steel Temirtau" contractors, including those without necessary guarantees.

Except SME sector, the programme will allow to develop import substitution in the region. The project was developed in close partnership with "Ispat Karmet SME Resource" company.

The organizer of conference is Kazakhstan’s National Association of businessmen and employees - "Atameken". Vice-minister for industry and trade, Aset Esekeshev, governor of Karaganda region Nurlan Nigmatulin, CEO of "Mittal Steel Temirtau", Nawal Kishore Choudhary and over 150 representatives of SMEs participated in the conference.

JSC "Bank TuranAlem" – the system-making bank of Kazakhstan, the leader in creation of banking network on the territory of CIS. Bank’s assets exceed $8.4 billion; equity capital exceeds $1.37 billion. Bank’s shareholders are the world largest institutions such as EBRD, RZB, IFC and FMO. In Kazakhstan the Bank confidently holds the leading position among the second-tier banks in the field of trade financing, SME loans and mortgage lending. Bank’s development strategy includes geographical diversification and the expansion of the range of provided services, as well as stable dynamic growth.

"Ispat Karmet SME Resource" was founded on 15 March, 2002, according to directions of the President of Republic of Kazakhstan. The company is designed to provide preferential financing of SMEs in Kazakhstan. Preferential borrowers are small and medium enterprises, from Karaganda and Temirtau, which provide services and products to JSC "Mittal Steel Temirtau" as a part of import substitution programme.