Bank CenterCredit JSC (Kazakhstan) about floatation of its 7th issue bonds

/IRBIS, Ranida Gabdeyeva, June 17, 05/ - Bank CenterCredit JSC (Almaty), whose shares and bonds are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, spread press release, which informs about floatation of bank's seventh issue subordinate bonds (KZ2СKY10В604; CCBNb7; KZT1,000, KZT2,0 bn., May 31, 05 - May 31, 15, semi-annual coupon indexed on inflation rate, 7.0% APR for the first circulation year, 30/360). KIB Asset Management JSC is a financial consultant and underwriter of this issue, Center DAR LLP is the company's independent registrar. Bank also informs, that report about floatation of seventh issue bonds was approved by the Agency of the Republic of Kazakhstan for regulation and supervision of financial market and financial organizations on June 8, 2005. Funds earned from floatation will be used for increase of own capital of Bank CenterCredit JSC and long term crediting of clients. Assets of Bank CenterCredit JSC for 2004 increased by 81% to KZT148.4 bn., shareholders capital increased in a year by 64% to KZT12.2 bn. as on the end of 2004. Net profit of Bank CenterCredit JSC for 2004 increased in comparison with 2003 in 1.9 times to KZT2.4 bn. Growth of loan portfolio in 2004 equaled to 76% and reached KZT91.4 bn. Portfolio of retail credits in comparison with last year increased in 2.3 times to KZT19.2 bn. Urgent deposits of clients in comparison with last year increased in 2.1 times to KZT68.4 bn. Interest earnings grew in comparison with 2003 in 1.7 times to KZT12.3 bn. (mainly due to growth of interest earnings on loan portfolio). According to bank's data return on equity (ROE) for 2004 equaled to 26%, and return on assets (ROA) equaled to 2.1%. As on April 1, 2005 bank has19 branches and 100 cash settlement divisions all over Kazakhstan. Bank CenterCredit JSC has Ba1 long-term rating on banking deposits in foreign currency from Moody's Investors Service Inc. rating agency and B+ from Fitch Ratings Ltd. On February 11, 2005 bank issued eurobonds for the amount $200 m. with maturity date in 2008 and interest rate 8%. [2005-06-17]