Alliance Bank OJSC (Kazakhstan) has informed about decreasing of rate on mortgage loans to 12.3% APR since September 1

/IRBIS, September 9, 03/ - Today Alliance Bank OJSC (Almaty), whose bonds are traded in Kazakhstan stock exchange's (KASE) highest listing category, spread press-release, which said that since September 1 of 2003 the bank decreased interest rate on mortgage loans to 12.3% APR within the framework of the joint with Kazakhstan Mortgage Company CJSC (Almaty) program "Alliance Mortgage". According to the bank's information, during the year of cooperation with Kazakhstan Mortgage Company CJSC on the program "Alliance Mortgage" sum of mortgage loans given by Alliance Bank OJSC equaled by the beginning of September to KZT839.4 m. "Holding a flexible price policy and while decreasing the rate, Alliance Bank managed to become the leader of mortgage Crediting within the shortest terms, having become the second largest bank-partner of Kazakhstan Mortgage Company - 28.99% of total loan portfolio of KIC by the beginning of September", - says the press-release. At present assets of Alliance Bank OJSC are equal to KZT42.8 bn., loan portfolio - KZT28.3 bn., deposit portfolio - KZT31.6 bn. [2003-09-09]