Zhilstroisberbank plans to enter global markets of funding in 2009-2010 years, considers the opportunity of selling a part of shares to German Bausparkasse Schwaebisch Hall

/INTERFAX-KAZAKHSTAN, Almaty, November 27, 07/ - "Housing construction savings bank of Kazakhstan" state JSC plans to raise additional capital on internal and international capital markets in 2009-2010. "In 2009-2010, we to enter the local market of borrowing capital, and also international ones", - said the Chairman of executive committee of Zhilstroisberbank Nurbibi Nauryzbayeva on Tuesday on a press conference in Almaty. "I think that as the bank's volume of operations grow, the necessity in funding will increase", - she added. At the same time, according to N. Nauryzbayeva, "As of today the main source of funding of loans is the equity capital of the bank, and also the capital of the system (of the bank's clients - IF-K) - for housing loans". She noted that recently in addition to principal loans, the bank is intended to develop a new product: preliminary loan that does not presuppose preliminary savings of money for loan granting. The bank has implemented this product since September of 2007. "Preliminary loans have to be given in accordance with the law only at the expense of own funds or raised capital, therefore, in 2009-2010 we have plans of borrowing money", - N. Nauryzbayeva added. "Everything will depend on market conjuncture. If money are expensive on the local market, then, probably, we will consider opportunities of entering international markets of attracting additional sources of funding", - she said. "Next year, the main source of funding will be own funds for giving of preliminary loans: our capital is KZT11 bn., plus KZT2 bn. that we will receive from the state budget for replenishment of the authorized capital" - N. Nauryzbayeva noted. Current exchange rate: KZT120.42/$1. "Furthermore, to provide preliminary and housing loans, we may use capital of the system, money of depositors. (...) That is, the next year, sources of funding will be inside of the system - or the bank's capital, or the one of our clients", -she summarized. Moreover, N. Nauryzbayeva informed that, at present, negotiations with German bank Bausparkasse Schwaebisch Hall are being conducted about its possible participation in the capital of Zhilstroisberbank. "We have never hidden that there is interest from the side of German banks to enter the capital of our bank. This interest has not weakened yet, it is present, the negotiations go on", - N. Nauryzbayeva added. At that, she specified that attracting an investor is not expected in the near future. "Even if a decision of having a German bank as a shareholder is accepted, probably, it will not be from the standpoint of raising additional money, but only in order to use intellectual property of that bank with 70-year experience, it has certain how-how and technologies", - N. Nauryzbayeva said. "A possibility of entering (of Bausparkasse Schwaebisch Hall. - IF-K) the capital of our bank is considered, but in any case, today, it is not about control packet of shares", - she noted. "We do not have plans about IPO. The bank is still state, if the government decide to privatize a part of shares, then, possibly, it (IPO - IF-K) will take place. But the question is not posed this way nor in the plans of the bank, neither in the plans of the government", - N. Nauryzbayeva also conveyed. "Zhilstroisberbank of Kazakhstan" was founded in 2003 on the terms of 100%-participation of state in the authorized capital. At present, the bank is the only financial institution in the republic that realized the system of constructional savings. It provides the citizens of the republic with an opportunity to accumulate a part of the sum, required for a purchase of housing, on its accounts with subsequent granting by it a missing financial means at an interest rate, lower than on market. By the results of 2006, Zhilstroisberbank took 418th place among the banks of CIS and 19th place among Kazakhstani banks by the volume of assets in Interfax-1000 ranking, composed by Interfax-CEA. By the results of current year, Kazakhstani commercial banks will demonstrate growth of assets and credit portfolios, Chairman of the Board of the republic's National bank Anvar Saydenov thinks. [2007-11-27]