Kazakhstan mortgage company plans to decrease quoting rate approximately by 1% before the end of the year

/Kazakhstan today, July 21, 03/ - Kazakhstan mortgage company (KMC) plans to decrease quoting rate approximately by 1% before the end of this year. The company informed KZ-today about it. According to the words of the chief of department of operations with securities of KMC Mars Aldashov, such the opportunity is concerned with the next planned issue of the company's bonds, and also probable decrease of inflation index in Kazakhstan. In particular, it's planned that volume of 10-year bonds issue of KMC will be about KZT3 bn. The company intends to register it within the closest two weeks, and terms of the issue are not specified yet. At present quoting rate is 10.6%. As Aldashov noted, within last seven months it decreased by about 4%. "It was the record index, and it's unlikely we will reach such the rates again", - he stated. According to the company's information, its net profit within January-June of 2003 rose to KZT66.8 m. in comparison with KZT24.4 m. within similar period of 2002, assets - to KZT2.321 bn. from KZT1.076 bn., shareholders' equity - to KZT1.683 bn. from KZT1.074 bn., credit portfolio to KZT1.788 bn. from KZT235.2 m. Company's authorized capital is equal to KZT1.5 bn. Kazakhstan mortgage company CJSC was founded for realization of the approved by Kazakhstan government conception of long-term financing of house- building and development of mortgage crediting system in the republic. Company's founder is the National Bank of Kazakhstan. [2003-07-21]