Bank CenterCredit issued 100-thousandth Visa card

/Bank CenterCredit JSC, July 1, 05/ - Bank CenterCredit announced about issuing the 100-thousandth Visa card. "Our bank cooperates with Visa international payment system for four years already, - Medet Rakhimbayev Deputy Chairman of Executive committee of Bank CenterCredit says, - Within this time Bank CenterCredit confidently entered the top five of Kazakhstan's banks - leaders by the number of issued Visa cards. One of our main tasks is maximum increase of the bank's stake on Kazakhstan's payment cards market". According to the data of the National Bank of Kazakhstan within March of 2005, stake of Bank CenterCredit in total volume of Visa cards, which are circulating in the country, was over 4%. In 2004 the bank increased Visa cards issue by 172%. Number of transactions by Visa cards in previous year grew by 232%, volume of transactions grew by 249%. Alexandr Kalita, regional manager of Visa International in CIS, said: "Bank CenterCredit is one of our old partners in Kazakhstan and has the status of Associated member of Visa. Jointly with such the reliable partners as Bank CenterCredit, we are sure we will build the modern banking services market on the base of universal payment cards Visa". Kazakhstan's payment cards market is stably growing. By the end of March of 2005 there were over 1.8 m. Visa cards in Kazakhstan. Volume of transactions by Visa cards in trade-service network grew by 117%. This means that country's inhabitants appreciate using Visa card". At present one of priorities of Bank CenterCredit's activity is development of acquiring network. Every year the bank invests much funds into expansion of cash-dispensers and pos-terminals network, as well as into increasing of their functionality. The bank says as of July 1 of 2005, its service network contained 80 cash- dispensers, 224 pos-terminals of trade network and 133 cash giving pos- terminals. The plan for year 2005 provides increasing of cash-dispensers network by 30 units, and trade network to 300 pos-terminals. Bank CenterCredit JSC Assets of Bank CenterCredit JSC grew in 2004 by 81 % to KZT148.4 bn. Shareholders equity grew by 64 % and by the end of 2004 was KZT12.2 bn. Net income of Bank CenterCredit JSC grew 1.9 times in 2004 in comparison with year 2003 to KZT2.4 bn. Loan portfolio grew in year 2004 by 76% to KZT91.4 bn. Retail credits portfolio grew 2.3 times to KZT19.2 bn. Term deposits of clients grew 2.1 times in comparison with the previous year to KZT68.4 bn. Interest income grew 1.7 times to KZT12.3 bn. mainly due to growth of interest incomes on loan portfolio. Return on equity (ROE) for year 2004 was 26%, and return on assets (ROA) totaled 2.1%. Bank CenterCredit JSC is one of five biggest banks of Kazakhstan. As of April 1 of 2005 the bank had 19 branches and 100 cash-settlement offices all over the country. Bank CenterCredit JSC has Ва1 long-term rating on bank deposits in foreign currency assigned by Moody's Investors Service. On February 11 of 2005 the bank issued eurobonds for USD200 m., maturity date is in year 2008 and interest rate is 8%. Visa International Visa is the biggest international payment system. Annual turnover on Visa cards exceeds USD3 trillion. Visa cards are accepted in over 150 countries. Visa plays the key role in introduction of new payment products and technologies in the interests of over 21 th. financial institutions, which are its members, and also in the interests of Visa cards owners. Visa takes one of leading positions in the sphere of Internet payments and initiates creation of universal commerce - possibility to deal with commerce at any time in any place and due to various means of communication. For additional information apply: www.corporate.visa.com. Visa is the biggest payment system in Kazakhstan. Visa is the first international card issued in Kazakhstan in the beginning of 90ieth. At present Visa takes the leading positions among all international payment systems represented in Kazakhstan. By the end of March of 2005 Kazakhstan's banks-members of Visa had issued 1.8 m. Visa cards. Total annual turnover on Visa cards in Kazakhstan is over USD3.3 bn. In Kazakhstan Visa cards are served in 2873 shops and 1177 cash-dispensers. Thus, Visa gives to Kazakhstan's and foreign Visa card holders the widest network of plastic cards accepting in Kazakhstan. [2005-07-05]