Bank CenterCredit JSC (Kazakhstan) has signed agreement about prolongation and increase of syndicated loan for the amount $45 m.

/IRBIS, Ranida Gabdeyeva, June 13, 05/ - Bank CenterCredit JSC (Almaty), whose securities are traded in Kazakhstan stock exchange's (KASE) official "А" listing category, today spread press release that, on June 13, 2005 Bank CenterCredit JSC, ING Wholesale Banking and Deutsche Bank AG signed agreement about prolongation and increase of syndicated loan, borrowed by the bank in June 2004 for the amount $45 m. Initially bank planned to prolong and increase amount of syndicate from $45 m. to $100 m., but after successful main and general stage of syndication, they received applications for the amount $140 m. and amount of borrowed funds equaled to $125 m. Message says that this loan was borrowed for 12 months by LIBOR + 2% rate. Syndicate contains 39 international commercial banks, such as: Citigroup, American Express Bank, Demir-Halk Bank (Nederland), Mashreqbank, Bankgesellschaft Berlin, National Bank of Egypt, Sumitomo Mitsui Banking Corporation Europe and others. Borrowed funds will be used for financing of export and import contracts of bank's clients. Previous syndicated loan, organized by German bank HSH Nordbank was borrowed in February of the current year with tenure for 1 year and equaled to $50 m. This loan was used for financing of export contracts of clients. As Bank CenterCredit JSC informs assets of the bank for 2004 increased by 81% and equaled to KZT148.4 bn. Shareholder's equity increased for a year by 64% and equaled at the end of 2004 KZT12.2 bn. Net profit increased 1.9 times comparing with 2003 and equaled to KZT2.4 bn. Growth of loan portfolio in 2004 equaled to 76% and KZT91.4 bn. Retail loans portfolio comparing with last year increased 2.3 times and equaled KZT19.2 bn. Clients' urgent deposits comparing with the last year increased 2.1 times and equaled to KZT68.4 bn. Interest profit increased comparing with the last year 1.7 times and equaled to KZT12.3 bn. (mainly due to growth of interest incomes on lending portfolio). According to bank's information return on equity (ROE) for 2004 equaled to 26%, and return on assets (ROA) equaled to 2.1. Bank CenterCredit JSC is one of the five biggest banks of Kazakhstan. As on April 1, 2005 bank has 19 branches and 100 cash settlement divisions all over the territory of Kazakhstan. Bank has"Ba1" long term rating on bank deposits in foreign currency from Moody's Investors Service rating agency. On February 11, 2005 bank issued eurobonds for the amount of $200 m. with maturity in 2008 and interest rate 8%. [2005-06-13]