OREANDA-NEWS. June 24, 2010. Halyk Bank of Kazakhstan started early repayment of funds received in 2009 under the stabilizing program of the Government of Kazakhstan, reported the press-centre of KASE.

During the financial crisis National Welfare Fund Samruk-Kazyna deposited in the bank KZT60 bn for three years that according to an agreement were allocated to credit and re-fund the economy real sector. Due to high results and sustainable financial indicators of Halyk Bank on June 18, 2010 this amount was early repaid.

Funds have been used to replenish operating assets and re-fund the bank clients debt in strategic economy sectors such as food, chemical industry, metal processing, machinery, power industry, construction, healthcare, agriculture and trade. The government crisis management program positively influenced on the bank clients activities.

The bank and Samruk-Kazyna regularly monitored the government funds use. As a result the bank clients used money to develop their businesses. In an average an interest rate was decreased by 4%.

The early repayment became possible due to the bank high liquidity. The reputation of Halyk Bank, its reliability and trust of clients resulted in the deposit base growth. Raised funds of clients grew by over than KZT630 bn.

"We appreciate the Government and Samruk-Kazyna support of the Kazakhstan banking sector, - said Halyk Bank of Kazakhstan Managing Board Chairman Umut Shayakhmetova, - Due to this support and efficient cooperation of the bank and Samruk-Kazyna KAzakhstan entrepreneurs managed to withstand and successfully continue their operations.

Also, the bank management confirms that the early repayment shall not affect the existing credits issued under the Government stabilizing program.