ABN-AMRO Bank Kazakhstan Ltd. II

completed

As of December 31, 2001, ABNK''s total assets reached US$199 million equivalent. Equity was US$37 million equivalent, and corporate deposits were US$156 million equivalent. ABNK''s main business focus is on companies, both international and domestic, in providing them with a range of products, such as loans, trade finance, retail, cash deposits, custody and advisory services. The bank has started to actively offer new derivative products and financial tools for clients in trading, such as swaps, (reverse) repurchase agreements, and forwards.As the economy has stabilized and the leading Kazakh companies have matured, it is becoming increasingly competitive for banks to meet the necessary financing needs of medium size Kazakh companies. By providing tier-II capital support to an excellent Kazakh client, the proposed project would enable ABNK to provide necessary financing to quality local companies where single client exposure limits present a problem for the bank. Also, the proposed loan facility will help to address the existing limitations of the Kazakh banking sector in providing term financing to the growing Kazakh businesses.