Deposit book of Bank CenterCredit JSC (Kazakhstan) grew by KZT21.4 bn in 2004

/IRBIS, Natalya Khoroshevskaya, March 28, 05/ - Bank CenterCredit JSC (Almaty) with shares and bonds listed traded in official securities list of Kazakhstan stock Exchange under "A" category, released an announcement today informing that in 2004 the growth of its private depositors base totaled KZT21.4 bn. This allowed Bank CenterCredit JSC to show the largest growth rate of the market share on deposits collected from private clients among second-tier banks that maintain membership in a system of collective deposits insuring. In 2003 the Bank management set up a target - to reach 10% market share of retail bank deposits. The whole range of complex of measures aimed at sales boosting was adopted. One of the tools the Bank employed was Champion deposit, which incorporated best product features with technical abilities of the bank. Active promotion support and client-oriented approach made it possible to achieve. As at February 1, 2005 the Bank overcame 10% threshold which under world practice means that bank is of systematic importance. Moreover, Marketing of goods and service magazine which helped to promote Bank's products was named Best idea of the year. Release also informs that net income of the Bank for 2004 grew 1.9 times compared to 2003 and totaled KZT2.4 bn, interest income rose 1.7 times to KZT12.8 bn, assets grew by 80% and totaled KZT148.5 bn, loan book totaled KZT94.0 bn, having increased by 77%. Shareholders equity of the Bank as at January 1, 2005 totaled KZT17.6 bn. According to the Banker journal Bank CenterCredit JSC is the seventh in the list of top 50 fastest growing banks of emerging economies. The Bank is the fifth largest among Kazakhstan banks and has 19 branches and 97 cash settlement offices throughout the country. Bank CenterCredit JSC has long-term rating on banking deposits in foreing currency Ba1 from Moody's Investors Service Inc. and B+ by Fitch Ratings Ltd. [2005-03-28]