"HO BTA Ipoteka" JCS, representatives of AFK, Committee on financial supervision of the National Bank, city Akimat had met with problem borrowers

/IRBIS, June 7, 2011/ - JSC "Hypothecary organization BTAI", representatives of the AFK, the Committee on Financial Oversight of the National Bank of Kazakhstan, Almaty City Administration met with delinquent borrowers, according to today's press-service of JSC "Mortgage organization BTA Ipoteka". "The Management of hypothecary organization BTA Ipoteka, representatives of the Association of Financiers of Kazakhstan, Committee for the Control and Supervision of Financial Market and Financial Institutions of the National Bank of Kazakhstan, Almaty City Administration met with representatives of the public association "Leave people their homes" association "Talmas". During the meeting they discussed issues concerning methods of work with problem borrowers" - was stated in the message. As noted, trying to compromise with the borrowers, the Company uses various tools to reduce the debt burden, including the restructuring of loans. These include the provision of deferrals of payments, extension of loan terms, a grace period, cancellation of penalties, refinance of mortgage loans in the state program of refinancing, and others. To the vast majority of borrowers, these tools allow to return to normal loan. But in some cases, these measures do not bring any results, or are not accepted by the borrower and the loan is not repaid. "There are customers who are not taking measures to repay the loan, refuse to continue to lease, while continuing to live in the real estate collateral, even when ownership of the property subject to judicial review proceeds to the Company or to a new owner who purchased this property during the bidding. Our company has about 4-thousand customers who have various problems with repayment of the loan and in most cases we are able to find a compromise and constructive solution. At the same time, about 30-40 borrowers do not go to the contact, respectively, to establish such a dialogue with them is not possible"- says the president of JSC "HO BTA Ipoteka" Sagyndyk Kussainov. "Do not forget that for the issuance of mortgage loans, banks are using borrowed funds, as foreign investors, both foreign and domestic pension funds. The actions of these borrowers who have received large sums of money on credit and never returned them, can adversely affect the investment income of retirement savings Kazakhstan who do not have to be responsible for the outstanding loans of individual members of society" - said vice-president of JSC "HO BTA Ipoteka" Kairat Altynbekov, whose words are reported. As indicated, the management of BTA Ipoteka urged representatives of public associations in a constructive dialogue and to the need to follow the letter of the law. "We're open to dialogue and willing to seek compromise with all customers who have problems with repayment of the loan. And as experience shows, in 99% of the cases we find a mutually beneficial solution. We consider it necessary on the part of public organizations to act strictly within the law and conduct more work constructively with its partners to address the problems with repayment of loans. Do not be limited to populist statements and actions, not glowing atmosphere unsubstantiated promises and spreading false information and take actions that are the catalyst including the mentioned unfortunate situations" - Sagyndyk Kusainov said. "However, the representative of the LPTH Sulubike Zhaksylykova expressed the opposite view of members of LPTH: "If the eviction will take place, then the problem borrowers, members of the LPTH", is nothing left except suicide!", thereby demonstrating the willingness to continue to pursue a policy of violation of legislation of Kazakhstan, of obstructing the implementation of court decisions and support the so- called position - "suicide is better lease", - was stated in a press release. [2011-06-07]