Volume of population's deposits in Bank CenterCredit OJSC still grows

/IRBIS, Ranida Gabdeyeva, March 3, 04/ - Bank CenterCredit OJSC (Almaty), whose securities are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, today spread press-release, which said that in the past year population's deposits in Bank CenterCredit OJSC had grown in comparison with 2002 by more than 50%. In the bank's opinion, its participation in the system of physical persons' deposits collective insurance consolidated population's trust in it. Bank CenterCredit OJSC takes the fourth place in Kazakhstan by the volume of attracted deposits of physical persons among Kazakhstan banks. Stake in total volume of population's deposits is 7.0%. According to the presented data, bank's deposit portfolio as of February 1 of 2004 was KZT36 bn. (excluding the current accounts of clients). Only in January of this year bank's deposit portfolio (excluding the current accounts) rose by 10.4%, including growth of physical persons' deposits by 7.2%. As the whole in the republic, volume of physical persons' deposits in Kazakhstan banking system rose by KZT3,556 m. with the speed of 1.24% a month. The message also says that total volume of deposits of the bank's residents rose in 2003 by 21.2% to KZT731.2 bn. Proportion of population's tenge deposits rose in 2003 from 26.2% to 37.5% to KZT386.7 bn., and in foreign currency, on the contrary, fell by 4.8% to KZT344.4 bn. Structure of the bank's deposit portfolio regarding currencies in comparison with similar period of last year is as follows: tenge deposits rose 2.5 times, dollar deposits - by 8.5%. Euro deposits rose 1.7 times to 3.6% of total volume of deposits. Volume of long-term deposits in total deposit portfolio rose 19 times. According to the bank's information, growth rates of population's deposits will remain on the level of last year, 20 - 25%. Dynamics of rates on banks' deposits was characterized by gradual decrease. Thus, weighted average interest rate in 2003 on tenge term deposits of physical persons fell from 11% to 10%, and on deposits of non-banking juridical persons - from 5.4% to 3%. [2004-03-03]