OREANDA-NEWS. Alliance Bank (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), informed KASE that Alliance Bank believes it necessary to comment the information ion taking off the book of Almaty City affiliate of the bank, published on KASE website and news of Kazakhstan information agencies on June 16, reported the press-centre of KASE.

The procedure was exclusively of a forma legal character as Almaty City affiliate of Alliance Bank de-facto stopped operations in November 2008 due to the merger with Alliance Bank affiliate in Almaty.

Alliance Bank informed that merger of two Almaty affiliates on November 3, 2008. In addition, the bank explained the merger to clients - individuals and legal entities on reasons of to bank Almaty affiliates merger.

At the moment of merger 34 divisions entered the merged affiliate. At present Almaty city affiliate has 28 divisions located across Almaty.

The reason of merger of two separate affiliates of Alliance Bank is reorganization of the bank business in Almaty City aimed at decrease of operational costs, affiliates management optimization and improvement of activities efficiency.

Previously KASE published the news on this topic of June 16, 2009 "Alliance Bank (Kazakhstan) crossed off the register Almaty City affiliate" - http://kase.kz/en/news/show/1076403