Kazakhstan bank buys control stock of a Georgian bank (ABSTRACT)

On the 22nd of March 2005 the “Silk Road Bank” and the largest bank of Kazakhstan “Bank Turan Alums” signed an agreement on the purchase of 49% control stock of the Georgian bank.

The main goal of this action is to finance projects on transportation, trade, real estate and other infrastructures. Through the enlarged Georgian bank Kazakhstan capital will become actively involved in the development of Georgian economy.
“Bank Turan Alums” has rich banking traditions dating back to 1925. Nowadays, the bank represents a major banking establishment of Kazakhstan republic with the capital of 3,5 billion US dollars. Apart from the Kazakhstan capital, shareholders of “Bank Turan Alums” include EBRD, RZB, IFC, DEG, and FMO.