Kazkommertsbank JSC becomes the leader of EBRD's Small business crediting program

/Kazkommertsbank JSC, October 17, 05/ - Kazkommertsbank according to results of activity in 9 months of 2005 has become the leader of Small business crediting program among banks-partners of EBRD, having outrun the closest competitors by the volume of giving out as well as by the volume of loan portfolio. Annual growth is 100%. EBRD's small business program started in Kazakhstan in 1998, 8 banks of Kazakhstan were enabled in it: Kazkommertsbank, Bank TuranAlem, Halyk Bank, ATF Bank, Bank CenterCredit, Temirbank and Tsesna Bank. Kazkommertsbank's credit managers on EBRD's program work in 26 cities of Kazakhstan. According to development strategy, Kazkommertsbank holds an active policy on attraction of clients, busy in small and medium business. Considerable financial resources on EBRD's Program in year 2005 году (over USD82.12 m., 8,474 credits given) were directed towards small business development, support of entrepreneurs' initiative and business activity. Within EBRD's Program the bank credits micro and small enterprises, as well as private entrepreneurs working in the sphere of production, service, trade and agriculture. On this Program Kazkommertsbank give express-credits (from USD100 to USD5,000), microcredits (USD1,000 - 10,000), small credits (USD10,001 - 200,000), which are given for replenishment of working capital, realization of investment projects, trading activity, rendering services, and also purchase of real estate for production purposes. Nina Zhusupova Chairman of Kazkommertsbank's Executive committee: "We are pleased by the excellent result. This would not be possible without efforts of the key regions such as: Astana, Karaganda, Shymkent, Ust- Kamenogorsk, and especially Almaty. I hope our programs not only in Kazakhstan, but also in Russia and Kirgizhia will be as successful". According to results of 2002 volume of Kazkommertsbank's loan portfolio totaled USD14 m., in 2003 it grew to USD30 m., in 2004 - USD60 m. Annual growth is 100%. At present portfolio of credits given on Small and medium business crediting program exceeded USD100 m., and as of September 30 of 2005 it was USD101,384,172. Within 7 years of EBRD's Small business Program functioning in Kazkommertsbank JSC there were given almost 36 th. credits to entrepreneurs for a total of about $255 m. Average size of credits given in year 2005, totaled $9,700; the biggest credit - $200,000 and the smallest one - $100. For year 2006 the bank has rather aggressive plans. [2005-10-17]