Bank CenterCredit JSC (Kazakhstan) informed about signing of an agreement about cooperation with Microcredit organization KazMicroFinance LLP

08.05.07 16:14
/KASE, May 8, 07/ - Bank Centercredit JSC (Almaty) securities of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list had spread the press-release with the following contention: quotation begin Almaty, May 5, 2007 - Bank CenterCredit JSC and Microcredit organization KazMicroFinance LLP had signed an agreement about cooperation on the special program of crediting of the small business Effect Plus. For clients of KazMicroFinance is foreseen the crediting in Bank on the privileged conditions. The privileged conditions are in possible setting of minimal interest for usage of loan, simplifying of documents circulation while consideration of credit applications, flexible approach to the structure of loan security. As of March 1, 2007 Bank CenterCredit JSC had taken the third place among Banks, realizing the crediting of small business on the Program of European Bank for Reconstruction and Development. If as of January 1, 2006 the volume of loan portfolio on crediting of small business made $74 m., than on January 1, 2007 it had reached $160 m. due to active work of Bank's workers. For today are actively functioning 66 sales points for crediting of small business. As of end of year 2007 it is planning the increasing of these points to 110. The signing of the given agreement is directed on realization of projects for widening of market of crediting, crediting of new clients, directed by Organization to the Bank on privileged terms for supporting of subjects of small business. MCO KazMicroFinance is the daughter company of Corporate Fund Microcredit organization Kazakhstan Fund of Crediting, which enters the third best Microfinancial Organizations of the world by portfolio quality according to estimation of global portal MixMarket, has 2 international ratings with high value and also in year 2002 was considered as one of the best projects of USAID in the world. Microcredit organization KazMicroFinance LLP - organization, providing the individual and group microcredits. Being the absolute leader on the market of microcrediting since year 1997, for today the organization included 7 subsidiaries and 20 departments, as of May 1, 2007 KazMicroFinance services more than 23000 clients with credit portfolio more than $33.0 m. Clients of KMF are mainly the starting businessmen, which obtaining the culture of crediting, further are becoming the worthy clients of commercial banks. The principles of activity are clarity and availability, orientation on he client, innovation approach and professionalism in all aspects of activity, care about the client and personnel, qualified servicing and democracy in acceptance of decisions. Tasks of Microcredit organization: to cultivate the culture of microcrediting, change relation of financial sector to work with micro enterprisers, bring the benefit to the public. Agreement of Bank CneterCredit JSC with MCO KazMicroFinance LLP foresees the opening of additional abilities and provision with help to businessmen, who do not have access to banking products, and persons who wish to develop their business and provide the self-employment. Since first years of independence the government of Kazakhstan had especially marked out the sphere of development of small and middle business, understanding the importance of it for development of economy, which is one of priority tasks of the given agreement, and also decision of social problems, because exactly the business provides the main amount of vacancies and stimulates the appearing of middle class. The given agreement about cooperation is aimed to activate the involvement of population to the business undertakings, in order each businessmen has an access to credit resources. Additional information is available at: PR manager of Bank CenterCredit JSC Mambetova Zhanna by tel. 59-86-03 e-mail: PR specialist of MCO KazMicroFinance LLP Avdonchenkova Julia by tel. 250-68-77 e-mail: Quotation end [2007-05-08]