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JSC Bank TuranAlem extends opportunities of Kazakhstani companies to import high-quality goods from US producers

28.09.2006 / Press-service

Customers of Bank TuranAlem, Kazakhstan, having interest to purchase goods and services produced by different US exporters now have an access to the medium and long term funding of their import contracts on a highly competitive basis. This became possible after signing by JSC Bank TuranAlem, Toronto Dominion (Texas) LLC and ECA Export-Import Bank of United States the Credit Guarantee Facility agreement ("CGF").

The amount of CGF is 11 mio US Dollars. The amount of the individual transaction which can be realized under CGF is limited to 10 million US Dollars.

The terms and conditions of CGF allows BTA's customers to get the semiannually amortizing trade finance loan for the amount of up to 85% of the import contract and with the re-payment period of up to 7 years. (the maximum repayment tenor depends on the specific of the transaction).

This is a second CGF signed by BTA, the first one for USD 15 million was signed on year 2005 between Bank TuranAlem, Deere Credit (USA) and ECA Export-Import Bank of United States. The experience with first CGF showed its undoubted advantage and preference for the customers both in terms of funding costs and time. There are the a number of obvious advantages which relates not only to the Importer but for the Exporter as well, such as reliable Finance Parties, goodwill and expanded experience in using Trade Finance instruments.

Bank TuranAlem is the system-making bank in Kazakhstan, the leader in establishing the banking network throughout the CIS. BTA offers a full range of traditional corporate and retail banking products and services. As of September 15, 2006 BTA's assets exceed U.S. $10.8 bln, total equity is about U.S. $1.7 bln. Amongst the shareholders of BTA there are the world's leading development and financial institutions. Bank TuranAlem maintains the leading position in Trade Finance in Kazakhstan, with significant dominance in Trade Finance, SME and corporate finance, mortgage lending. BTA actively co-operate with more then 600 correspondent banks over the world. More then 150 banks established blank 3 years credit lines for BTA for the total amount exceeding USD 2 bln. The Bank has in its plans to become one of the largest private banks in CIS.

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. It serves more than 14 million customers in four key businesses operating in key financial centres around the globe: Canadian Personal and Commercial Banking; Wealth Management; Wholesale Banking as well as U.S. Personal and Commercial Banking. TD Bank Financial Group also ranks among the world's leading on-line financial services firms, with more than 4.5 million on-line customers. It has CDN$386 billion in assets and a market capitalization of over US$40 billion. The Toronto-Dominion Bank trades on the Toronto and New York Stock Exchanges under the symbol "TD".

Export-Import Bank of United States – is a governmental institution targeted to stimulate exports from USA in frames of insuring/guarantying of the loans provided by financing institutions from political/economical risks of defaults of the Borrower's/Importer's country.