Bank CenterCredit OJSC (Kazakhstan) signed a loan agreement for $8 mn

/ИРБИС, December 18, 03/ - Bank CenterCredit OJSC (Almaty) informed that on December 12, 2003 an agreement on loan for $8 mn with Holland FMO and DEG German development bank was signed for 5 years. According o bank's information the credit line being attracted will allow financing small and medium enterprises from industries such as processing industry, agriculture, transportation, trade and commerce, tourism and services sector. Holland development bank FMO is organized in 1970 as a result of collaboration between Holland government and private business sector. German development bank DEG was organized in 1962 and is specializing in project financing. The main goal of DEG activities is the development of private business sector in developing countries. The shareholder of the bank is state run Kreditanstalt fur Wiederaufbau (KfW) Company, which aimed at providing assistance to enterprises of developing countries through giving long-term loans and participation in ownership. The announcement also states that the net income of the bank for the third quarter of 2003 increased in comparison with corresponding period of 2002 1.5 times and amounted to KZT684 mn. Bank's assets increased by 48% this year and equaled to KZT74.4 bn. Authorized capital of the bank as of October 1 2003 was KZT4.5 bn and increased by 52% relatively to October 1, 2002. Bank's shareholder's equity increased by 51% and equaled to KZT9.3 bn as of October 1, 2003. Bank CenterCredit is in the list of top 5 banks of Kazakhstan. As of October 1, 2003 bank has 19 branches and 62 cash settlement departments at the territory of Kazakhstan. Bank has long-term ranting on banking deposits in foreign currency "Ba2" by Moody's Investors Services and "B+" by Fitch Ratings. [2003-12-18]