Bank CenterCredit OJSC (Kazakhstan) intends to increase the authorized capital by KZT2.0bn, liabilities - by $140.0m

/KASE, July 29, 02/ - Bank CenterCredit OJSC (Almaty), whose securities are circulating under stock exchange's official "А" listing category, presented KASE a copy of minutes of the annual General shareholder meeting, which was held on April 26, 2002. In accordance with the approved agenda of the meeting Bank CenterCredit OJSC shareholders confirmed the report of the banks Board of directors about results of activity, annual financial statement and Auditing commission conclusion for 2001, and made the following decisions. To keep 100% of the bank's net income for 2001 in the amount of KZT308.2m as undistributed income. To increase the bank's announced authorized capital by KZT2.0bn (to KZT5.1bn) by means of open floatation of 10,000,000 common shares of the 4th issue with face value of KZT200.0 each. To make shares issue after full shares floatation of the 3rd issue and report approval of by results of their floatation. To increase the bank's liabilities by USD140.0m, including by means of eurocommercial securities issue - by USD100.0m, by means of syndicated loan attracting - by USD40.0m. To approve changes and additions in the bank's charter, including those which are concerned with the amount of the announced authorized capital and exclusion of limitation for direct and constructive possession (disposal, management) by one bank's shareholder with more than 25% of sharesс with voting right. To appoint auditing company Ernst & Young (Kazakhstan, Almaty) as the bank's auditor for 2002. V.S. Lee the President presented the report of the Board of directors about results of the bank's activity in 2001 to shareholders. It is noted in the report that the bank's clients are more than 22 thousand juridical and и 71 thousand physical persons. Increase of clients physical persons during the past period exceeded 70%, and volume of their investments increased 2 times as much by 2000 and amounted to more than KZT10.0bn. The bank's share in total amount of term deposits of physical persons placed in Kazakhstan second tier banks, equaled to 6.6%. During the past year the bank's credit investments increased by 75% by 2000 and amounted almost to KZT22.0bn. Volume of crediting of small and medium enterprise in 2001 reached KZT5.0bn (1.8 times as much relative to 2000), consumer crediting - KZT2.1bn, mortgage crediting - KZT0.3bn. The bank takes part in the Program of small and medium enterprise supporting within the framework of credit line of European Bank of Reconstruction and Development, German credit line on supporting of enterprise in Pavlodar oblast, and is also the agent of Asian Development bank and World Bank on realization of the Program of agricultural enterprises supporting, financers international trade operations. In 2001 the bank floated the first issue of its own subordinate bonds with 5- year circulation term in the amount of USD4.5m, and also in September of 2001 received the first in the bank's history syndicated loan from foreign banks in the amount of USD11.0m with 6-month term with option for prolonging for the next 6 months. During the past year volume of the bank's operations with securities increased from KZT2.0bn to KZT3.4bn, income from these operations increased 2 times as much relative to 2000 and amounted to KZT244.0m. Within 2001 the bank's assets increased by 70% relative to previous year and exceeded KZT32bn, liabilities reached KZT29.0bn (in the beginning of 2000 - KZT16.0bn), shareholders' equity increased by 41% and equaled to KZT3.7bn. In the past year state block of shares of Bank CenterCredit OJSC in the amount of 15.1% was bought out by the bank itself and entirely floated at stock market of Kazakhstan. According to report of the Board of directors the bank intends to realize 2002 the following strategic tasks: - To increase assets to KZT52.0bn due to realization of the Program of retail crediting and crediting of enterprises of medium size; - To increase liabilities by USD40.0m due to external borrowings; - To increase shareholders' equity up to KZT6.0bn by means of increasing of the authorized capital and floatation of subordinate bonds of the second issue. [2002-07-29]