OREANDA-NEWS. May 19, 2009. ATFBank (Almaty), securities of which are present in Kazakhstan Stock Exchange (KASE) official list, provided to KASE the press release on the following, reported the press-centre of KASE:

In compliance with the General Agreement, concluded at the beginning of this year between ATFBank and the fund Damu, the Bank co-funded the Damu Program in ratio 50:50.

Within the third tranche entrepreneurs of Kazakhstan received KZT20 bn with the effective rate 12.5%, out of which KZT10 bn were allocated by ATFBank.

On May 14, ATFBank completed drawing the third tranche on the Damu program ahead of schedule by 1.5 months. During this period ATFBank refunded and issued new loans to 314 clients of the Bank.

Due to the large network of affiliates ATFBank is actively working on this program in all cities of Kazakhstan, the largest number of loans falls to Almaty and Astana.

Thus, in Almaty were signed agreements with 94 clients to the amount of KZT8.7 bn, in Astana - 55 agreements to the amount of KZT3 bn.

Director of ATFBank Sales Department Nurlan Akshanov:

"For our bank it was a test, if we are able during the short time to draw this tranche. It is a difficult task - to make decisions on providing to clients of funds, allocated by the National Welfare Fund.

At the decision making phase the bank must analyze all possible risks as 100% recurrency must be ensured now. I am confident that this test for efficiency we successfully passed. We are glad for our clients as the interest rate decrease till 12% will allow SMB companies to lead the business to the new phase.

The Bank is ready for future cooperation with the fund Damu, and today we received the additional tranche in the amount of KZT75 m on the program Damu-Regions, previously not used by other STB, which will be used in Kyzyl Orda Region. We shall draw these funds till the end of May".