Halyk Bank of Kazakhstan OJSC arranged a syndicated trade-financing deal for Russian JSCB Promsvyazbank

/IRBIS, October 10, 03/ - Halyk Bank of Kazakhstan OJSC (Almaty), whose securities are circulating under official "A" listing category of the Kazakhstan Stock Exchange CJSC (KASE), spread a press-release about the fact that in the beginning of October of the current year Halyk Bank of Kazakhstan OJSC arranged a syndicated deal for a Russian bank JSCB Promsvyazbank for $13 mn. A syndicate of major Kazakhstani banks confirmed reserve letter of credit with 6 months term with the option of its prolongation for another 6 months. The manager and organizer of the deal - Halyk Bank of Kazakhstan OJSC received a mandate for arranging a syndicate in the mid of September 2003. The message mentions that parties are represented by Kazakhstan banks only: KAZKOMMERTSBANK OJSC, BankTuranAlem OJSC, ATFBank OJSC, Nurbank OJSC, Bank CenterCredit OJSC, TMIRBANK OJSC, Eurasian Bank JSC and BANK CASPIAN JSC. Press release says that a given deal is unique both for Halyk Bank of Kazakhstan that acted as the organizer, and Russian JSCB Promsvyazbank . This is the first trade-financing agreement in the history of Halyk Bank of Kazakhstan OJSC and it symbolizes the intensification of economic activity in Russian-Kazakhstan relations in the year 2003 that was declared as a year of Kazakhstan in Russia. In addition to that, the release presents the information on major results of economic activities of Halyk Bank of Kazakhstan as of October 1, 2003 in compliance with Kazakhstan Accounting Standards. As of mentioned date the bank's assets totaled to KZT252.8 bn ($1.7 bn), authorized capital - KZT12.1 bn, shareholders' equity - KZT27.7 bn. Net income by the end of September reached KZT3.7 bn. The gross loan portfolio of the bank equals KZT161.6 bn. Out of KZT150.3 bn of total deposits, KZT61.4 bn was deposited by households. The card system of the bank as of October 1, 2003 included 373 ATMs, 1,891 point-of-sale terminals and 1,123 imprinters. [2003-10-15]