Kazkommertsbank (Kazakhstan) launches mortgage loans refinance program
04.03.09 14:49
/KASE, March 4, 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
[2009-03-04]