Bank CenterCredit JSC signed credit agreement with EBRD for total amount $10 m. by Mortgage crediting program

/Bank CenterCredit JSC, November 23, 05, heading - KASE/ - Bank CenterCredit signed agreement with European bank of reconstruction and development for total amount USD10 m. by Mortgage Crediting Program. Execution of this financing was a result of long and fruitful collaboration between the Bank and EBRD and reflects high level of trust to Bank CenterCredit. This loan will allow the Bank to provide cheap and long-term mortgage credits to the Republic's population. So within this program credits will be given for acquiring of cheap houses in the market of Kazakhstan, maximum amount of sub-credit will not exceed USD120 th., and maturity term of loans will be not less five years. Loan is given by EBRD for 10 years and should be secured by pool of sub-credits, granted by the Bank according to standards of EBRD by mortgage crediting. "Credit line attracted by the Bank from EBRD positively affected development of mortgage crediting market in the Republic, in connection, that the above credits are oriented at clients, interested in acquiring of houses of medium and small cost, i.e. at growing in Kazakhstan middle class" Vladislav Li, Chairman of the Board of Bank CenterCredit announced. Mr. Kuusvek, director of EBRD in Kazakhstan in his turn noted, that this loan would help long-term partner of EBRD, Bank CenterCredit, to strengthen its position as one of the leading banks in the field of mortgage crediting in Kazakhstan, and also to improve access and standards of mortgage credits for population of the Republic. [2005-11-23]