Bank CenterCredit OJSC (Kazakhstan) has borrowed a syndicated loan for $17 m.

/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 the bank had borrowed a syndicated loan for USD17 m. for financing one of the projects of the bank's corporate client. According to the bank's information this deal can be positioned as a syndication, organizer of which was Bank CenterCredit OJSC itself, that was the first deal of such type in the history of the bank's activity. The message says that a number of European, American and Canadian bank took part in this syndication: American Express Bank, Natexis Banques Popularies, Bayerische Hypo-und Vereinsbank, Bank of Montreal, HSH Nord Bank, DZ Bank, Citibank N.A., Finansbank (Holland). A part of the funds was secured by European bank for reconstruction and development. The funds were given for 9 months "at the rate attracting for the bank". According to preliminary results of non-audited financial statement the non- consolidated net income of the bank rose in 2003 by 73% to KZT1,1237 m. Bank's assets rose by 62% to KZT82.7 bn. Bank's shareholders equity as of January 1 of 2004 rose in comparison with data as of January 1 of 2003 by 75% to KZT10.8 bn. Bank CenterCredit OJSC is one of five big Kazakhstan banks. As of January 1 of 2004 the bank had 19 branches and 73 cash-settlement offices. This network provides the bank with presence in 30 cities and one hundred settlements. Bank CenterCredit OJSC has long-term rating on bank deposits in foreign currency "Ва2" from Moody's Investors Service and "В+" from Fitch Ratings. [2004-03-03]