News

Astana Finance Company owned OJSC "Alpha-Bank Bashkortostan"

20.04.2007 Press-service

Today, on April 20^th the bargain on OJSC "Alpha-Bank Bashkortostan" acquisition by JSC Astana Finance has been completed.

During the meeting of top management of Astana Finance and Alpha-Bank a number of agreements was signed which anticipate the rights transmission on possession of 99,4% of OJSC "Alpha-Bank Bashkortostan" shares. At the nearest time the Russian Federation Central Bank will register a new name of the bank – OJSC "AF Bank".

Alpha-Bank has been running for many years on Bashkortostan territory as a subsidiary bank, however the stock volume and juridical disconnection with Alpha-Bank were the kind of barrier to distribute up-to-date technologies on clients’ high quality services fast and proper along the republic territory. What factor was the reason of subsidiary opening in Bashkortostan? As it turned out the parallel work of Alpha-Bank two structures – branch bank and affiliated office was not productive that is why the decision to sell the subsidiary (branch) bank was made. The President N.Nazarbayev in his Message to Nation emphasized the necessity to expand the directions where our country is able to maintain its achievements and success. According to his statement the prior attention should be paid at markets of. It’s remarkable that "Astana Finance" undertakes energetic actions to enlarge the territory for stocks exporting along with strengthening the image of our state abroad.

Reference OJSC "Alpha-Bank Bashkortostan" is an assignee of a commercial Bank "Informsvyaz", established on October 30^th of 1990. Alpha-Bank Bashkortostan is marinating all the basic kinds of bank transactions represented on the market of financial services. As for the volume of it’s means this establishment is in the group of 3 leaders in republican market. By April 1^st of 2007 the stocks amount was 403 950 rubles, the amount of balance revenue for the first quarter of the current year is 16 358 rubles. The bank is the participant of the investments` insurance system.

Reference Astana Finance was established in 1997. The company mission is to provide a full set of financial and other services in order to gain stable competitive positions at the financial market of, CIS and abroad. Astana Finance is carrying out an active work at internal stock and financial markets of the country. The company collaborates with the leading export and import agencies, international financial institutes.

By January 1^st of 2007 the amount of private capital of companies` Group Astana Finance was 8, 7 billion tenge (68, 5 million dollars).The assets of the Group are 131, 2 billion tenge (1,033 million dollars). Credits with the deduction of reserves are 97, 5 billion tenge (767, 9 million dollars). Net profit for the year of 2006 was 1, 9 billion tenge (about 15 million dollars).

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