Astana-Finance Bank to open in September

business and economy

Astana-Finance Bank to open in September

By SRI ⋅ August 29, 2008 ⋅

(SRI) - Astana-Finance Bank plans to start operating in September, Interfax reported on Thursday.

Initially, the bank will open a branch office in Almaty and will add another branch in Astana by the end of 2008. In the the next two years, it plans to set up offices in Shymkent, Atyrau, Aktau, Karaganda, Aktobe, Petropavlovsk, Pavlodar and Ust-Kamenogorsk.

The Financial Supervision Agency (FSA) also issued insurance licenses to two subsidiaries of Astana-Finance. Astana-Finance Life Insurance will deal with life insurance and Astana-Finance Insurance Company with general insurance.

Astana Finance, the parent company, provides long-term project finance, leasing and mortgage services, mainly in Astana and the surrounding Akmola region. In recent years, it began expanding in other business and georgraphical areas. The establishment of Astana-Finance bank is part of its new strategy to expand and diversify its business.