/ANNULLED/ Kazkommertsbank (Kazakhstan) launches mortgage loans refinance program
03.03.09 20:42
/KASE, March 3, 09/ - Kazkommertsbank (Almaty), a company listed on
Kazakhstan Stock Exchange (KASE), provided KASE with a press release of
March 2, 2009 of the following content:
Quotation beginning
Kazkommertsbank in accordance with resolution No. 6 of the Kazakhstan
Government dated January 13, 2009 started to consider applications of its
borrowers in regard of refinancing of mortgage loans. Board chairman Nina
Zhusupova, managing directors Adyl Batyrbekov and Andrey Timchenco
announced thereof at a press conference today.
According to agreements between Kazkommertsbank and National
wellbeing fund Samruk-Kazyna, mortgage loans will be refinanced cutting
interest rate down to 9 % or 11 % APR, affording opportunity to change loan
currency from USD to KZT.
9 % APR interest rate is set for state officials, and other employees of state
institutions and enterprises. For the rest of borrowers interest rate will equal
to 11 % APR. Borrowers and credits must comply with the following
requirements:
a borrower must be a Kazakhstan resident, residential real estate, for
acquisition of which the loan had been taken (or a share participation
agreement had been entered into) and which is collateral on the credit, shall
not exceed 120 square meter area and is the only residential real estate for a
borrower their spouse and infant children. There must be no delays in
payment for the credit as on the date of submission of the refinance
application. The bank reserves the right to refuse
a borrower without indication of reasons.
Kazkommertsbank managing director Adyl Batyrbekov commented: "We
did much work jointly with Fund Samruk-Kazyna to make loans cheaper and
expand crediting. The state is first intending to help needy and lawful
citizens".
Details on the mortgage loan refinance program are available at any
bank unit or via a Call-Center by phone +7 (727) 258-54-44.
As said, Kazkommertsbank was elected by the Kazakhstan Government as
a main partner in implementation of measures on financial support of
domestic economy amidst the global financial crisis. On January 13, 2009
the Kazakhstan Government, Kazakhstan National Bank and the Agency of
the Republic of Kazakhstan on Regulation and Supervision of Financial
Market and Financial Organizations approved the Joint Actions Plan for
2009-2010, and on January 15, 2009 National wellbeing fund Samruk-
Kazyna and the bank and its shareholders signed a block of documents
specifying joint actions within the stabilization program.
Contact:
Saule Eleuva, Mortgage Crediting
Tel.: +7 (727) 258-51-70, E-mail: SEleuova@kkb.kz
Larissa Kokovits, Head of Public Relations
Tel.: +7 (727) 258-54-56, 258-53-92, E-mail: pr@kkb.kz
Quotation end
[2009-03-03]