Eurasian Bank redeems $51.5 m. of syndicated loan

/KASE, October 1, 08/ - Eurasian Bank (Almaty) bonds of which are traded in the official list of Kazakhstan Stock Exchange (KASE) of the first sub-category of category "Non-rated debt securities" provided KASE with the press release: Quotation start September 29, 2008 Eurasian Bank paid USD51.5 m. for redemption of the syndicated loan borrowed in September 2007. This loan was granted to Eurasian Bank by a syndicate of foreign banks. The deal was arranged by Commerzbank AG, Deutsche Bank AG, London Branch and Raiffeisen Zentralbank Osterreich AG. "Due compliance of Eurasian Bank with its obligations before foreign creditors in the full volume and in the specified terms has proved sufficient level of liquidity and high reliability of the bank, - Zhomart Ertaev Chairman of the Board of Euasian Bank commented. - With redemption of the loan an insignificant stake of external funding in the bank liabilties has reduced, which is a very important competitive advantage amid the current situation". It was informed earlier that on May 8, 2008 Eurasian Bank successfully paid the credit to Schuldschein in the amount of USD25 m. borrowed in April 2007. Accordingly the redemption of the USD51.1 m. syndicated loan is the second large payment of external liabilities in 2008. This year the bank has to pay the last of the outstanding obligations in the amount of USD40 m. (2-nd, final tranche of the USD110 m. syndicated loan raised in December 2006). This redemption will exert no significant influence on the Bank liquidity level. According to non-audited non-consolidated statements, as on July 1, 2008, the assets of the bank totaled to KZT231 bn., own capital - 24.7 bn. Net profit of the bank according to the six months of 2008 made up KZT864.6 m.* The bank, as on July 1, 2008, had 18 branches and 39 units. *official rate of the National Bank of Kazakhstan as on July 1, 2008 made up KZT120.75 per dollar. Press Office Eurasian Bank Tel.: (727) 244 39 12, 244 39 43 www.eurasian-bank.kz Quotation end [2008-10-01]