Zhilstroisberbank plans to treble crediting in 2008

/INTERFAX-KAZAKHSTAN, Almaty, November 27, 07/ - "Housing construction savings bank of Kazakhstan" state JSC plans to increase loan granting three times the next year. "For the next year, we are planning to increase the volume of our portfolio (loan portfolio - IF-K) three times, (...) we expect loan granting to the amount of KZT14-15 m.", - said the Chairman of executive committee of Zhilstroisberbank Nurbibi Nauryzbayeva on Tuesday on a press conference in Almaty. Current exchange rate: KZT120.42/$1. As the executive director of the bank Daniar Toybayev specified to Interfax- Kazakhstan agency, the bank has planned to provide the clients with KZT5bn. as loans for this year. At the same time, according to his data, over the whole period of operations, Zhilstroisberbank has granted more than 3.7 th. loans to depositors, including 2.5 th. to the sum of KZT7 bn. this year. "Volumes of crediting will grow at a fast pace", - Toybayev noted on the mentioned press conference. Overall, according to the information of Nauryzbayeva, at present, loan portfolio of the bank exceeds KZT9 bn. She has also notified that, next year, in accordance with the law of republican budget for the year 2008, KZT7 bn. will be given to the bank from the state budget for lending to the population. "KZT7 bn. of the budget loan will be granted through our bank to young families, state employees, employee of budgeting field without preliminary savings in the form of preliminary loans at the rate of 4% APR", - N. Nauryzbayeva specified. "We expect that since beginning of the next year we will be able to start granting of those credits. And we hope that by the end of the year, KZT7 bn. would have been disbursed", - she added. According to the information of D. Toybayev, the bank has concluded more than 26 th. deals on contracts of housing savings this year. "It is 1.2 times more than we made over the entire last year", - he noted. "Total amount of concluded contracts over the entire period (since the beginning of the bank's activities - IF-K) has already totaled 63 thousand, while as of the end of the last year we had 37 thousand of contracts", - D. Toybayev added. "Regarding the volume of housing savings of our depositors, we have already approached to the mark of KZT10 billion", - he also emphasized. "Concerning financial indicators, the volume of assets of the bank has already exceeded 21 billion tenge as of today, the authorized capital makes 11 billion tenge", - D. Toybayev informed. "Before the end of the year we are planning to conclude three more contracts, and to bring the number of concluded contracts to 29 thousands this year. Next year, we expect conducting 38 thousand contracts. Following the plans, by 2010 we would have concluded about 160 thousand contracts over the entire period of the bank's operations", - he added. Furthermore, N. Nauryzbayeva drew attention to the fact that, as of October 1 of 2007, Zhilstroisberbank was on the 14th place from among 33 second tier banks by the size of shareholders' equity and on 19th place - by the volume of assets. "By July 1, we have already entered the top-ten banks by the volume of long-term deposits of population", - she added. "Last year, we received positive financial result (net income - IF-K) to the amount of KZT48 m. although according to the plans we had to get a negative result. (...) By the end of the year, we expect about KZT100 m. with planned KZT8 m.", - N. Nauryzbayeva said responding to the correspondent question of Interfax- Kazakhstan agency. As it was announced on past Friday, Moody's international ratings agency assigned to Zhilstroisberbank the long-term rating at the level of "Baa2", rating of financial stability - "Е+", and short-term rating on deposits in the local currency - Prime-2". The outlook by the ratings is "stable". Regarding this, N. Nauryzbayeva noted that according to Moody's ratings, Zhilstroisberbank is on the second palce among second tier banks after ATFBank. "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]