OREANDA-NEWS. August 10, 2009. ATFBank (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

National wellbeing fund Samruk-Kazyna provided ATFBank with KZT1.3 bn in the second tranche to refinance mortgage loans. According to the Agreement between the Fund and ATFBank the funds must be completely disbursed by October 1, 2009.

On August 3, 2009, ATFBank disbursed all the funds ahead of time.

"It was planned, and the Bank completely disbursed the funds of the second tranche provided by the Fund to refinance mortgage loans.

We in one month refinanced 325 credits for a total of KZT1.3 bn. The second tranche was distributed in Astana - 16%, Aktobe - 15%, Aktau - 14%, Almaty - 11% and Karaganda - 9%.

However, 176 clients could not refinance their applications for a total of KZT735 m due to insufficiency of the funds provided.

Due to changes, banks may refinance credits at the expense of loans released from earlier refinanced loans. The bank will use such funds to meet needs of those 176 clients, however, the loaners must be patient, as just a little sum is being released monthly, and it will take at least half a year to meet all applications approved for the time being", - Nurlan Akshanov ATFBank Sales Director said.