Bank CenterCredit JSC (Kazakhstan) one of organizers of the club deal for Food Contract Corporation

/IRBIS, Natalya Kuznetsova, October 28, 04/ - Bank CenterCredit JSC (Almaty), whose securities are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, today spread press-release, which says on October 26 in Holland there was signed agreement about financing Food Contract Corporation - the biggest state exporter of Kazakhstan grain, creditors on which are Bank CenterCredit JSC, COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. (RABOBANK INTERNATIONAL) and NATEXIS BANQUES POPULAIRES, PARIS. Sumo f the deal is USD20 m. and the term is 18 months. Security on this transaction is grain receipts, which are partially confirmed by "The fund of guaranteeing fulfillment of obligations on grain receipts". In the opinion of the chairman of the Board of Bank CenterCredit JSC Vladislav Lee, this deal is unique for the Food corporation was offered very profitable rates of financing and rather preferential terms of credit, and also simplified terms of transaction without usage of offshore account. The bank itself acts as the Agent for security, to whose account funds from grain sale come. Besides, Mr. Lee has noted that this deal was the first in the bank's history, where it acted as co-organizers of the club deal together with the biggest western banks-partners of CenterCredit - Dutch Rabobank and French Natexis Banques Populaires. "I hope this transaction will not be the last one in the history of Bank CenterCredit, and in the future we intend to develop such the deals on structural financing and organization of financing for our corporate clients by inviting foreign banks-partners", - he said. The bank also says its assets, according to results of the III quarter of 2004, have exceeded USD1 bn. Since the beginning of 2004 bank's assets have grown by more than 70%, and in comparison with October 1 of 2003 - by 88%. Net profit of Bank CenterCredit JSC in the III quarter of 2004 has grown 2.7 times in comparison with similar period of 2003 to KZT1.8 bn. Sharehodlers equity grew in 2004 by 40% and equaled by October 1 of 2004 to KZT15 bn. Bank CenterCredit JSC has "Ва1" long-term rating on bank deposits in foreign currency assigned by Moody's Investors Service and "В+" assigned by Fitch Ratings. [2004-10-28]