HSBK Halyk Bank of Kazakhstan JSC

 

TIDMHSBK 
 
RNS Number : 8085O 
JSC Halyk Savings Bank Kazakhstan 
13 March 2009 
 

 
 
13 March 2009 
 
 
JSC Halyk Bank started realization of the Government anti-crisis program 
 
 
In the first decade of March 2009, JSC Halyk Bank ("Halyk Bank" or "Bank") 
received KZT 24 billion for refinancing of mortgage loans and KZT 11.7 billion 
for lending to SMEs from the Government of Kazakhstan. These funds have to be 
disbursed within three months from the date of receipt by the Bank from the 
National Wealth Fund Samruk-Kazyna and Joint-Stock Company «Entrepreneurship 
Development Fund "Damu" («Damu Fund»). 
 
 
To stabilize the national economy and the financial system of Kazakhstan the 
Government, the National Bank of the Republic of Kazakhstan and the Agency of 
the Republic of Kazakhstan on regulation and supervision of financial market and 
financial organizations worked out a joint plan ("Plan") of measures for 
2009-2010. 
 
 
In accordance with the Plan, KZT 120 billion were allocated for refinancing of 
mortgage loans of the second-tier banks, including KZT 24 billion allocated to 
Halyk Bank. Refinancing of mortgage loans will be made in tenge at interest 
rates of either 9 or 11 % p.a. The obligatory requirements to the Borrower 
include the following: the dwelling is the only residence of the Borrower, the 
dwelling space does not exceed 120 square meters, the absence of overdue 
payments, etc. The interest rate of 9% p.a. is applicable for the following 
types of the Borrowers: public officers, employees of government-owned 
enterprises not related to public officers, employees of government-owned 
enterprises, veterans and invalids of the Great Patriotic War and persons 
equated to them, pensioners and invalids. For other Borrowers the interest rate 
will be 11% p.a. 
 
 
For SME lending the Government allocated KZT 240 billion to 12 banks including 
KZT 11.7 billion to Halyk Bank. 70% of these funds will be used for refinancing 
of outstanding projects and 30% - for new projects at the nominal interest rate 
not exceeding 12.5% p.a. and effective interest rate not exceeding 14% p.a. The 
funds for support of SMEs were granted through Damu Fund. In accordance with 
this program, Halyk Bank jointly with the Damu Fund launched a special lending 
program which will be valid from March until June 2009. The main terms of the 
program include the following: maximum amount of the loan is up to KZT 750 
million, tenor of the loan - up to 7 years. 
The purpose of financing includes the following: business development, 
replenishment of working capital, investments: purchase of movable property / 
building and commercial premises renovation, etc. The requirements for obtaining 
the loan include the following: availability of the functioning business, no 
negative credit track-records, no overdue taxes and other obligatory payments to 
the state budget. 
 
 
Starting from its foundation, Halyk Bank has been the partner of the Government 
in realization of social projects for the population, in particular, in transfer 
and payment of pensions, allowances and salaries, receipt of tax, utilities and 
other payments. 
Being one of the largest systemic banks in Kazakhstan, Halyk Bank actively 
participates in realization of the Government anti-crisis program aimed at 
stabilization of the national economy and improvement of Kazakhstan citizens' 
welfare. 
- ENDS - 
For further information please contact: 
 
 
+-----------------------------------------------+---------------------------------+ 
| Halyk Bank                                    | +7 727 259 07 96                | 
|                                               | +7 727 259 04 30                | 
| Zhanara Aikimbayeva                           |                                 | 
| Director, International Department            |                                 | 
| Assel Atinova                                 |                                 | 
| Head, Financial Institutions                  |                                 | 
+-----------------------------------------------+---------------------------------+ 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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