Bank CenterCredit JSC (Kazakhstan) signed agreement about prolongation of syndicated loan for the amount of $70 m.

/IRBIS, Ranida Gabdeyeva, November 18, 04/ - Bank CenterCredit JSC (Almaty), whose securities are traded in the official "A" listing category of Kazakhstan stock exchange (KASE), today has assimilated press-release that on November 18, 2004 between Bank CenterCredit JSC and syndicate of foreign banks agreement about prolongation of syndicated loan has been signed for the amount of $70 m. According to information of Bank CenterCredit JSC primary amount of syndicated loan, attracted in November 2003 equaled to $36 m. Loan was attracted for 12 months with option for prolongation for the following 12 months by LIBOR rate +2.30% APR. Organizers of loan were represented by HVB Group, SANPAOLO IMI S.p.A. and Standard Bank London Limited. Participants of syndicate, including organizers, were represented by 28 foreign banks and financial institutes, among them we may note those who took part in such loan for the first time: HSH Nordbank AG, Danske Bank A/S, Moscow Narodny Bank Limited, Piraeus Bank, Alpha Bank AE, Hua Nan Commercial Bank Ltd., N.V. de Indonesische Overzeese Bank, Chang Hwa Commercial Bank LTD., The Export-Import Bank of the Republic of China. Press-release also notes that this loan is the biggest loan in the history of the bank judging by amount as well as by number of participants of financial institutes. Bank CenterCredit JSC assumes to use loan funds for financing of export and import contracts of bank clients. Bank also reminds that previous syndicated loan attracted in June 2004 with 1- year maturity and with possible prolongation for 1 year equaled to $45 m. by six months LIBOR rate+2.4% APR. Assets of Bank CenterCredit JSC by the results of the III quarter of 2004 exceeded USD1 bn. From the beginning of 2004 bank assets increased by more than 70%, in comparison with October 1, 2003 - by 88%. Net profit of the bank for the III quarter of 2004 increased in comparison with similar period of 2003 in 2.7 times and equaled to KZT1.8 bn. Shareholder's equity increased during 2004 by 40% and equaled to KZT15 bn. as of October 1, 2004. Bank CenterCredit JSC is one of the five big banks of Kazakhstan. As of November 1, 2004 bank has 19 branches and 98 cash settlement divisions on the whole territory of Kazakhstan. From the beginning the year 14 cash settlement divisions were opened. The bank has long-term rating on bank deposits in foreign currency Ba1 from Moody's Investors Service rating agency and В+ from Fitch Ratings. [2004-11-18]