Turan Alem Bank to Enter Azerbaijani Market
Georgia, Tbilisi / Trend corr N. Kirtskhalia / Roman Solodchenko, the head of the Administrative Board of the Kazakh Bank Turan Alem (BTA), reported in Tbilisi that the bank was going to enter the Azerbaijani market soon. The Bank has been operating in Georgia since 2005.
According to Solodchenko, Azerbaijan and Uzbekistan are the only CIS countries where BTA hasn't established a branch. Solodchenko did not release the details on how the bank will be represented in Azerbaijan. "At present the matter is under discussion," Solodchenko reported.
The activities of the BTA group are comprised of $16.3bln, and its joint capital consists of $2bln in 2007. The activities of the bank in the CIS are to be consolidated and raised by $50bln by 2015.
The Bank Experts Association together with The Itogi magazine (The Results) announced BTA as Bank of the Year in November, 2006. The financial group of BTA includes insurance, leasing, and mortgage companies, a pension foundation and other financial institutions.
BTA has its strategic bank partners in Ukraine, four regions in Russia, Belarus, Georgia, and Armenia, and trade delegates in China, Kyrgyzstan, Tajikistan and the United Arab Emirates.
BTA is the founder of the BTA - Silk Road Bank.