Bank TuranAlem JSC (Kazakhstan) has informed about opening of the specialized mortgage center Otau in Almaty

/KASE, April 19, 07/ - Bank TuranAlem JSC (Almaty), securities of which are traded in Kazakhstan stock exchange's (KASE) official "А" listing category, has spread a press release, which says: Quotation start Kazakhstan needs at least 50 years to solve the problem of housing deficit. To this conclusion came experts of Bank TuranAlem JSC, comparing current situation in Kazakhstan with the experience of developed countries of the whole world. "Housing market will stably develop, since currently we have all preconditions to further growth of prices, may be not such impetuous as before though," consider experts of BTA, assuming that during the current year the average cost of real estate in Kazakhstan, including in the largest megapolis - Almaty, will increase by 25%. Experts of Bank TuranAlem primarily associate this situation with critical need in dwelling: "Today practically there has been left no region in the country, where demand for real estate did not exceed offer, especially it concerns big cities of Kazakhstan". In this situation banks must play an important role in solving this problem. Bank TuranAlem improves its technologies of rendering banking services. One of actions to create favorable conditions in order to provide public with more beneficial and fast mortgage credits is the establishment of a new center of mortgage crediting Otau in Almaty, which is situated at the address: 51, Abylay khan avenue (corner of Makatayeva street). Mortgage Crediting Center Otau is the first center in the Republic of Kazakhstan, which specializes on providing the population with credits for housing and, correspondingly, its specialists will render full range of services - from dwelling selection, organization of real estate estimation, to concluding agreements and certifying deals notarially. Show room will be organized in the Mortgage center. It will be equipped with modern techniques, which will allow the client to distantly get acquainted with different offers in the market of initial housing and choose the appealing real estate from construction companies, with which the Bank cooperates. The center has opportunity to render banking services at the highest level; on the territory of department there is cash-in terminal (device of receiving cash payments in favor of different service providers), automatic teller machines and cash payment department. We would like to note that the bank conducts an unprecedented action - starting from April 23 up until June 23, 2007 - mortgage credits are offered on preferential terms - discounts on commissions and absence of insurance for the first year of service. Bank TuranAlem within the work of Mortgage center will offer 15 programs of mortgage crediting, which will meet all needs of the population. Primary advantages of programs are: - getting credit until pension age. If the client applies to bank for mortgage credit on reaching 20-year-old age, then mortgage credit can be offered for 40 years; - an opportunity to get credit without down payment; - an opportunity to get the mortgage credit for a new dwelling on preferential terms (until the moment of bringing in of dwelling only interest on credit is paid), - an opportunity of advance repayment of mortgage credit at any time; - an opportunity to get the mortgage credit for purchase real estate in any city of Kazakhstan; - an opportunity to refinance the mortgage credit, received in another bank on more beneficial terms. Bank TuranAlem JSC plans to hold high share of mortgage credits in the total portfolio of retail crediting. Thus, at the beginning of 2007 the volume of granted mortgage credits of the bank totaled KZT71 bn. 571 m., having increased compared to beginning of 2006 3 times. Currently BTA takes the leading position (28% as of April 1, 2007) on loan portfolio of mortgage credits among STB. At the opening ceremony of the Specialized Mortgage Center took part representatives of Akimat of Almaty city, financial regulators, construction companies, and realtor organizations. Bank TuranAlem JSC (BTA) constitutes the core of the financial group, which is present in all segments of the financial market. Network of banks-strategic partners of BTA is spread to Ukraine, 4 regions of Russia, Byelorussia, Georgia and Armenia. Representatives of BTA work in Russia, Byelorussia, China, Kirgizstan, Tajikistan and UAE. Assets of BTA group as of April 6, 2007 totaled $17 bn., total owner's equity - $2.2 bn. Consolidation of bank's assets in CIS is planned for 2007 with increase up to $50 bn. by year 2015. For contacts with mass media: 8 (3272) 505-464, press@bta.kz Quotation end [2007-04-19]