OREANDA-NEWS. On January 12, 2009 Bank CenterCredit (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), disseminated today the oppress release on the following, reported the press-centre of KASE:

On December 18, 2008, Bank CenterCredit (the Bank) signed the loan agreement to the amount of US40 m., partially secured by the US Government Agency OPIC (Overseas Private Investment Corporation). The organizer, creditor and the agent on this deal is Citibank. Borrowed resources will be used to develop the hypothecary portfolio of the Bank in the area of clients crediting with low and middle level of income. The funding will be provided in two tranches:

US 30 m. Against OPIC security for 10 years and US 10 m. Directly by Citibank for 3 years with the preferential period on the main debt repayment of one year.

OPIC Corporation has been created in 1971 as the United States Agency for provision of assistance to American companies in the area of international investments. At present OPIC works in more than 150 countries worldwide.

This deal is the third loan for the Bank, borrowed against OPIC security, after concluded in 2007 transaction to the amount of US 30 m. from National City Bank to fund the Bank retail business. In 2007 the Bank was provided funds for 7 years with two year preferential period on the main debt repayment. This long-term deal, concluded with support of Citibank, demonstrates that Bank CenterCredit has sustainable financial status on Kazakhstan banking market, and once again proves the trust of international financial organizations in the Bank.

Considering that historically important priority of the Bank was the retail business development, the new loan for hypothecary portfolio funding will help to increase the portion of presence in such services provision sector.