Caspian Bank is Now the Principal Member of MasterCard

Caspian Bank has received the principal member status with the MasterCard International payment system. Caspian Bank will now have an opportunity to work with this system with no mediators and which draws numerous advantages of the principal membership. 

“Raising our status with the MasterCard International within a short time is a significant success of our team”, Mikhail Lomtadze, Chairman of the Caspian Bank’s Board said. “The principal membership of MasterCard will give us further opportunities to broaden our product range and offer our customers new products and services”. 

Banks’ second largest branch national network and a customer base are one of the bank’s main advantages. As of today Caspian bank serves over 1m customers. Since the beginning of 2008 the bank has made over 250,000 loans to Kazakhstanis. Followed the market research the Bank is planning to offer new products using the card platform. Caspian bank started offering an innovative credit product called Fast Cash. Customers of the bank with sustainable income might get a loan worth up to 1.5m Tenge (over USD12K) within one day.  

“Developing the retail financing and small and medium-sized business financing is our bank’s strategic priority”, Mikhail Lomtadze added. “Offering products using international payment systems is a significant line of business to our bank. At the beginning of 2008 we also became the principal member of Visa International. Becoming the principal member of both international payment systems within one year is a remarkable event for our bank and success of our team”. 
 
JSC Bank Caspian
Caspian Bank is one of the leading retail banks in Kazakhstan with total assets exceeding 267  billion tenge and equity of  43  billion tenge.  Caspian has one of the largest retail networks among Kazakh banks with 150 offices and 514 points of sale for express lending products, serving more than 2000 retail outlets. Retail credit portfolio represents over half of the Bank’s total credit portfolio. Caspian Bank is majority owned by Baring Vostok Private Equity III (BVPEF III), a leading private equity firm. www.bc.kz

Baring Vostok Capital Partners
Baring Vostok Capital Partners (BVCP) specializes in direct investments to CIS countries. Since 1994 funds of BVCP have invested over $600 mln in 50 companies. The BVCP funds portfolio consists of a number of companies in financial services, oil and gas industry, telecommunications and mass media, as well as in consumer retail business, including such companies as Caspian Bank, Europlan, Center for the financial technologies, Burren Energy, Vympelcom, Golden telecom, Syktyvkar timber industry complex, Sladko, Borzhomi, Yandex and Ozon. Among BVCP investors are the worlds leading financial institutions, pension funds, investment corporations, university funds from America, Europe and Asia. BVCP is a part of the Baring Private Equity International, with over $ 3.5 bln under the management in CIS, Asia, India, Europe and Latin America. www.bvcp.ru 

For more information please contact:
Larissa Pak
Corporate communications director
Tel: +7 (727) 2 501- 800 (ext.1099)
Email:  Larissa.Pak@bc.kz
Mobile: +7-701-222-93-39

Almaty, Kazakhstan:
17th October 2008