A new complex product will appear at Kazakhstan financial market

/Kazakhstan today, April 9, 03/ - Halyk Bank, accumulative pension fund of Halyk Bank and Kazakhinstrakh CJSC intend to introduce a new complex financial product since April 20 for the first time at Kazakhstan market. Representatives of these three financial institutions announced about it at the press-conference today, on April 9. According to their words, for those juridical and physical persons, who turn to one of companies of the group of Halyk bank, it means they will have discounts and preferential conditions of servicing in all three companies of the financial group. Basic project contains more than 25 types of banking, pension and insurance services and in the future their number will expand, the first deputy chairman of the Board of APF of Halyk Bank of Kazakhstan CJSC Nurzhan Alimukhambetov informed. He also noted that introduction of this product was the new level of service, which corresponded to the grown requirements of Kazakhstan consumer. Today 60% of total number of all clients of the bank, pension fund and insurance company are clients of all three institutions at a time. After the new product's introduction the financial group expects this figure will increase up to 80%. "We will be able to judge about the first results after three months since the moment of the complex product's introduction", - said deputy chairman of the Board of Halyk bank Marat Zairov. Halyk Bank of Kazakhstan which is a part of three largest bank of the republic, at present services more than 1 m. holders of payment cards, 10 th. juridical persons, about 8 m. of physical persons' accounts have been opened in it. Number of depositors of APF of Halyk bank exceeded 946 th. persons, and pension assets - more than KZT66 bn. Company on foreign insurance Kazakhinstrakh has 20% of this market's stake in the republic. As of April 1 of 2003 volume of collected insurance premiums was KZT1.871 bn., assets (excluding reinsurer's stake) - KZT1.437 bn., insurance reserves - KZT418.370 m., shareholders equity - KZT426.166 m. [2003-04-09]