Early return of the deposit to Samruk-Kazyna

22 June 2010

PRESS-RELEASE

On early return of the deposit to

 Joint-stock company "Sovereign Wealth Fund "Samruk-Kazyna" 

On 18 June 2010 JSC "Halyk-Bank" (the "Bank") returned the three-year deposit of KZT 60 billion to Joint-stock company "National Wealth Fund "Samruk-Kazyna" (the "Fund") 18 months beforehand.

The deposit was placed in January 2009 within the frame of the Government stabilization programme and was intended for financing and refinancing of projects in the real sector of economy. During 2009 the Bank utilized successfully over KZT 154 billion within the frame of the government programmes in general. The Bank and the Fund have been monitoring regularly after due and effective use of funds. One of the main effectiveness criteria was reducing the interest rates on loans to customers which decreased by 4% on average.

Financing of the real sector of economy out of Fund's deposit had a positive effect on activities of the Bank's clients - the large corporates. This was confirmed several times by the state controllers. The money allocated by the Fund were used for financing of the working capital and refinancing of indebtedness within strategically important industries of Kazakhstan economy, such as food production, chemistry, metal-working, machine manufacturing, power industry, construction, healthcare, agriculture and trade.

Among the financial institutions of Kazakhstan JSC "Halyk Bank" has become a pioneer in returning state funds received within the frame of the Government programme on supporting the real sector of economy. This has become possible due to high level of customers' trust to the Bank the deposit base whereof keeps growing. During the Q1 2010 current accounts and deposits of legal entities as well as those of individuals increased by 11.6% to KZT 975 billion and by 2.8% to KZT 411 billion, respectively.

TheBank's management affirms that early return of the deposit to the Fund will not have any negative effect on the outstanding loans granted earlier within the frame of the Government stabilization programme. 

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JSC "Halyk Bank" is the leading bank in the republic with the largest customer base and branch network. The Bank is a part of financial services group "Halyk Group"which comprises 14 subsidiaries. The subsidiaries of "Halyk Group" offer broad range of services to population (banking services, pension fund, insurance, leasing, brokerage, asset management), small and medium enterprises and corporate customers. The Bank operates as well in Russia, Georgia and Kyrgyzstan.

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