Bank CenterCredit plans to develop mortgage crediting

/Kazakhstan today, July 29, 04/ - Bank CenterCredit OJSC (BCC) plans to actively develop mortgage crediting and increase its total volume 2 times till the end of 2004. KZ-today was informed about it by the bank's press-service. Bank CenterCredit started crediting on the line of Kazakhstan Mortgage Company in 2003. Since the beginning of 2004 over KZT4 bn. of mortgage loans were given on this program. For the whole period of cooperation with Kazakhstan Mortgage Company more than KZT9.5 bn. have been given that is over 50% of all Kazakhstan loans on this line. The bank has its own mortgage crediting program. The program acts in its all 19 branches. Besides, BCC provides for support of mortgage programs of several Kazakhstan cities and regions administrations. According to the bank's information, about KZT200 m. of mortgage loans are given every week in the country. With their help more than 7000 Kazakhstan families bought lodging. Share building market is interesting. Today the bank works with big building companies and holdings building houses. According to specialists estimations, Bank CenterCredit is one of five best Kazakhstan banks by growth rates. As of July 1 of 2004 total volume of loans given to physical persons grew by 36% in comparison with similar period of previous year to more than KZT17 bn. Stake of loans given to physical persons in general loan portfolio is 20.43%, of them 60.82% of loans were given in tenge and 39.18% in US dollars. [2004-07-29]