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Rating: A1/A/A+

Bank TuranAlem (BTA), the largest bank by assets in Kazakhstan, has decided it is not enough merely to dominate the very dynamic Kazakh banking sector. Its chairman, Saduakas Mameshtegi, is directing the expansion of the bank into the CIS region, with the aim of becoming one of the biggest private banks in the CIS within five years. Kazakhstan's banking sector is the envy of the former Soviet Union. It is the most transparent, the most sophisticated, the best regulated, and the fastest growing. Total assets of the sector have grown by an average of 40% over each of the last four years.

Loans bankers searching for assets in eastern Europe and the CIS have found solace in the regular supply of bank syndications emanating from Kazakhstan. The country's financial institutions seem intent on maintaining the pace, but opportunities to fund corporate borrowers remain limited. Nick Briggs reports.

Rating: Aa1/AA/AA+

Guarantor: Banco Bilbao Vizcaya Argentaria SA

Fannie Mae, the US mortgage agency, appointed Bank of America at the end of August as a Euromarket dealer on its universal short term debt facility.

A woman who lost just $143.40 has filed a lawsuit in a US court against the Republic of Italy and 11 investment banks, alleging they had misstated the size of Italy's budget deficits, persuading investors to pay over the odds for Italian debt.