In 2004 Bank CenterCredit will continue work for expansion of CSO network, by investing about KZT75 m.

/Kazakhstan today, January 16, 04/ - In 2004 Bank CenterCredit will continue work for expansion of its cash-settlement offices (CSO) network, informed the bank's press-service. According to forecasts, the bank plans to open 25 CSO all over the republic, including settlements, where the bank was not present before. "Opening of new cash-settlement offices will increase sale of bank products, and also geography of bank's presence in the republic", - noted deputy chairman of Bank CenterCredit OJSC Bulan Adilkhanov. According to his information, investments for these purposes will be about KZT75 m. As of January 1 of 2004 total number of CSO of BCC was 73 units, 15 of them started working in 2003. The bank invested for these purposes more than KZT50 m. (147.6/$1). All cash-settlement offices offer cash-settlement service, including usage of "Internet-banking" system (remote access to account), deposits receipt, money transfers, purchase and sale of circular cheques, issuing and servicing of payment cards, cash-exchange operations. As the whole by the beginning of this year the bank's branch network consists of 19 branches and 73 CSO, which are situated on the whole territory of Kazakhstan. Total number of bank's offices for population service is (including exchange offices) 90 units. This network provides the bank with presence in 30 cities and settlements of the republic. Leader among the branches by opening of cash-settlement offices is Almaty city branch. The structure of this branch comprises 22 CSO, which are situated in various parts of the city. Second ones after Almaty by number of CSO are branches in Astana, Kostanai and Karaganda cities. BCC is one of five large banks of Kazakhstan, it has long-term rating on bank deposits in foreign currency "Ва2" from rating agency Moody's Investors Service and "В+" from Fitch Ratings. Bank's net profit increased in the third quarter of 2003 1.5 times in comparison with similar period of 2002 to KZT684 m. Bank's authorized capital as of October 1 of 2003 was KZT4.5 bn., having increased by 52% in comparison with data by October 1 of 2002. Bank's shareholders equity increased since the beginning of 2003 by 51% and equaled by October 1 of 2003 to KZT9.3 bn., bank's assets - by 48% to KZT75.4 bn. [2004-01-16]