Almaty. September 2. Interfax-Kazakhstan - Kazakhstani commercial Bank Caspian has raised $65 ml through a one-year syndicated loan with a one-year prolongation option.

Citigroup and Standard bank Plc mandated as lead-arrangers of the loan.Today in Almaty three parties signed a relevant loan agreement.

"While loan has been launched at $50 ml, it got oversubscibed to $65 ml that proves the bank's strengthening position on the international financial markets," the Chief Executive Officer of Bank Caspian Alexei Mironov said at a press conference following the signing ceremony.

The interest rate of the loan is LIBOR+2.3% p.a. There were 22 foreign banks from Europe, the U.S. and Asia participating in the syndication. According to Mironov, the bank will use the loan proceeds to finance trade finance needs of its clients.

Andrei Kourilin, the Deputy Chairman of Citibank Kazakhstan, noted the success of the deal and said that during the last few years Kazakhstani banks became easily recognizable not only of the CIS market, but in all of CEEMEA. Kazakhstani banks are one of the most active borrowers in the region.

Mr. Mironov informed that in 2005 according to the international financial reporting standards, as of July 31, 2005, the Bank Caspian’s year-to-day assets are at 106 bl tenge, capital exceeds 15 bl tenge, and its consolidated net income.

Mironov indicated that the bank expcts to make about $28-30 ml of net profit.

As previously reported by Interfax, Bank Caspian made about 1.8 bl tenge in net profit for 2004.

Bank Caspian is among ten largest banks in Kazakhstan.