Bank Astana-Finance (Kazakhstan) completes application of funds in compliance with program JSC Damu entrepreneurship development fund

/IRBIS, May 21, 09/ - JSC Bank Astana-Finance (Almaty, the Bank) disseminated the press release informing that the bank ahead of schedule completed application of funds in compliance with program JSC Damu entrepreneurship development fund for subjects of small and medium business within Stabilization program. "According to application plan, defined by the agreement, signed between DAMU and STB, Bank Astana-Finance should have issued KZT3 bn. before June 30, 2009. Notwithstanding the little experience and the absence of client's base of loaners for refinancing, Bank Astana-Finance applied 12 projects from the fields of "agriculture", "trade", "services" and issued funds to entrepreneurs 1.5 months ahead of maturity schedule. Entrepreneurs of Almaty, Astana and North Kazakhstan region was granted KZT3 bn. with effective rate - 12.5 %" - the message says. According to the message, the amount of assets of Bank Astana-Finance increased up to KZT15.9 bn. from January till May 2009. Bank assets grew at the expense of borrowings of term deposits, remainders at clients` current accounts and funds of Government small and medium business support program. Bank's shareholders equity as at May 18, 2009 makes KZT3.6 bn. [2009-05-21]