Bank CenterCredit OJSC (Kazakhstan) to increase authorized capital by KZT1b and attract $10m syndicated loan

/KASE, June 11, 01/ - Bank CenterCredit OJSC (Almaty) provided the Kazakhstan Stock Exchange (KASE) with a copy of the minutes of annual General shareholders meeting, which was held on April 27, 2001. Based on approved agenda, the shareholders of Bank CenterCredit OJSC approved the report of the Board, annual financial statements for the year 2000, report of the Supervision commission, changes and amendments to the bank's Charter, as well as made following decisions: - to allocate KZT104,981 th to add to reserve capital (35% of net income); - to allocate KZT166,805 th (55% of net income) to increase authorized capital while maintaining the stake of each shareholder (As of Apr 6, 01); - to allocate KZT30,144 th (10% of net income) to pay commission to the bank officials; - to increase announced authorized capital of the bank by KZT1.0b; conduct the third share issue only after the second issue is floated completely and the floatation report is approved; - to attract $10m syndicated loan for up to 1 year period; - to approve the assignment of Ernst & Young (Almaty) as the company's auditor. The chairman of the Board, Li V.S., made a speech on the results of Bank CenterCredit OJSC in 2000. It is said that in 2000 the bank assets increased by 38% and equaled KZT19.0b, shareholders' equity rose by 84%, at KZT2.6b, liabilities reached KZT13.6b. In 2000 the bank was servicing more than 20 th legal entities and more than 40 th individuals. In reporting year the deposits increased by 35%, at KZT13.5b, of which 36% are time deposits. Based on the report of the Board, the volume of the bank's financial almost doubled in the last two years, at KZT12.5b. The volume of credits granted to small and medium business equaled KZT2.7b in 2000. Under the cooperation with the Central American Entrepreneurship Support Fund, 7 projects have been financed for a total of $1.5m; under the credit line of Asian Development Bank 5 projects have been financed for a total of $3.1m. The bank takes an active part in the Small and Medium Entrepreneurship Support Program of the EBRD, and granted 442 credits in national currency for a total of KZT196.3m, and 950 credits in U.S.dollars for a total of $9.8m. Now, total volume of the bank's financing under these programs is about $6.5m (more than 600 borrowers). In May 2000 the bank became a member of VISA International association, therefore, in 2001 it plans to issue VISA plastic cards and install 10 ATMs. Following securities of Bank CenterCredit OJSC have been entered into official list of the KASE securities under category "A": - on August 13, 1999 - common inscribed shares (KZ1C36280419, trade code - CCBN); - on December 15, 2000 - first issue inscribed coupon bonds (KZ75KARGCA53, trade code - CCBNb1; Dec 16.00-Dec 17.05, $4.5m, semiannual coupon at 12.0% APR).