Nurbank JSC (Kazakhstan) charter capital enlarged by 22 %

/KASE, June 25, 08/ - Nurbank JSC (Almaty), securities of which are traded in the official list of Kazakhstan Stock Exchange (KASE) of category "А", provided KASE with the press release: Quotation start In June 2008 Nurbank JSC enlarged its charter capital by 22 % in the amount of KZT6.5 bn. At the same time, for purposes of further enlargement of reserves on cover of potential credit risks, loan portfolio provisions were increased by KZT6 bn. The decision on enlargement of bank capitalization and parallel increase of provisions level is the best international practice in proactive management of credit risks in the periods of correction on financial markets and economy as a whole. As a result, bank capitalization will reach high 22.1 % level at 12.0 % minimum requirement. This measure is a part of the bank strategy in perfection of the risk management system and reflects key transparency principles in Nurbank JSC operation. According to the Chairman of the Board Nurmukhamed Bektemisov, present shareholders completely support additional bank capitalization enlargement and strive to follow best international practice in financial institutions management. "Moreover, once again shareholders confirm to be ready to support quality and stable development of the bank", - Bektemisov pointed out. According to Nurbank management, this measure will be taken as positive by rating agencies and capital markets. Additionally, this will mean a new stage of stable development, which will be reflected in internal financial changes this year, beginning next year - in financial indicators of the Bank operation. It is noteworthy, that at the end of the first half year Nurbank JSC made all payments in respect of large international syndicated loans and debt issue of Euro bonds. Only one issue of Euro bonds with 2011 maturity term is circulating. As on July 1, 2008 the volume of formed provisions of Nurbank JSC rated to the loan portfolio will make 10 %, and the charter capital will grow up to KZT33.6 bn. Quotation end [2008-06-25]