OREANDA-NEWS. November 13, 2007. Alliance Bank and National City Bank (USA) signed a 7 year USD 30 million bilateral loan agreement guaranteed by Overseas Private Investment Corporation (OPIC) - the government agency of the USA within the Global Framework Agreement (GFA) with National City Bank.

The loan will be used to support development of retail business of Alliance Bank which has a leading position in retail lending in Kazakhstan with more than 20 % market share.

This is a second transaction for Alliance Bank where OPIC the agency of the US government – acts as the guarantor. In May 2006 the Bank signed a bilateral loan agreement with Wachovia Bank, National Association for USD 16 million covered by OPIC guarantee.

"In current volatile conditions on the international capital markets attracting even a small loan but with long tenor and advantageous rate is a signal that attitude of the foreign investors towards banking sector of Kazakhstan is gradually changing to a positive side, it is also proves their trust to financial institutions of Kazakhstan", noted Dauren Kereibayev, Chairman of the Board of Alliance Bank.

In September 2007 Alliance Bank was awarded a "Best Retail Bank in Kazakhstan" in the "Leading World Banks in Corporate Governance in 2007" category by Euromoney - international financial magazine.

According to the non-consolidated unaudited financial statements of Alliance Bank as of October 1, 2007 the assets of the Bank were KZT 1 224,7 billion and equity KZT 150,1 billion.. Net profit of the Bank following the results of 9 months 2007 totaled KZT 30 billion. As of 1 November the current liquid assets of the Bank stood at KZT 242, 79 billion, or more than USD 2 billion (official exchange rate of the NBRK – KZT120,89=USD1)

Alliance Bank has the following ratings assigned by international rating agencies:
Moody's Investors Service: long-term foreign currency rating "Ва2", short-term foreign currency rating is "NP" and financial strength “E+”;
Fitch Ratings: long-term foreign currency issuer default rating is “BB-” with “Stable” outlook, short-term foreign currency issuer default rating is “B”, individual is “D”, supporting rating is “3” and supporting long-term issuer default rating is “BB-”;
Standard & Poor's: long-term counterparty rating is "B+", short-term rating is "В", with “Stable” outlook.

Alliance Bank is represented by extensive branch network with 25 branches and 216 outlets in 47 cities and 18 settlements of Kazakhstan. And a customer base of more than 2 million.

National City Corporation (NYSE: NCC), headquartered in Cleveland, Ohio,is one of the nation's largest financial holding companies. Its core businesses include commercial and retail banking, mortgage financing and servicing, consumer finance and asset management. For more information about National City, visit the company's Web site at nationalcity.com.

The Overseas Private Investment Corporation (OPIC) was established as an agency of the U.S. government in 1971 and helps U.S. businesses to invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Currently, OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide. OPIC promotes U.S. best practices by requiring projects to adhere to international standards on the environment and worker and human rights.