OREANDA-NEWS. On November 01, 2007 Kazkommertsbank JSC (Almaty), being the listing company of Kazakhstan stock exchange (KASE) provided KASE with the press-release with next contention, reported the press-centre of KASE:

Kazkommertsbank, the leader of banking system of Kazakhstan, with partnership with leading building companies of the country offers the program of crediting of physical entities for purchasing of habitation at rates, existed on the market till August  of current year.

As it is known, on August 16 of current year, under influence of uncertainty. Formed on international capital market and inside of country, Kazkomemrtsbank had introduced the new terms of retail crediting, including mortgage. So, interest rates on mortgage programs for physical entities were increased to 16% APR.

However now the situation is stabilized, which had let Kazkommertsbank, who did not stop the full financing of immovable sector, to offer our leading building companies the partnership in new mortgage program, foreseen the crediting of stakeholders of companies at former interest rates. Were selected those companies, which are building the habitation immovable of economist- and business-class and had proved the bank its opulence and potential for realization of projects in long-term perspective.

For today Kazkommertsbank had signed an agreements with five building holdings:

- Basis-A, whose companies are building the habitation complexes (HC) "Yantarniy", "Triumfalniy", "Shakhristan" and "Town House Solnechnaya Dolina" in Almaty;

- "BI Group" - HC "Nomad", "Simfoniya", "Crown Plaza", "Shanyrak-2", "Shanyrak Premium", "Gulder", "Solnechniy", "Sarmat" and "Mereke Kaskad" (Astana);

- GrazhdanPromStroy - 1-3-rd lines of HC "Sana" and 1-st line of HC "Tamyz" (Astana);

- Otau Stroy - HC on Rashidov str., and HC on Kunayev str. (Shymkent);

- Concern Asia Technics - HC "Akbulak" (Astana).

On the stage of signing are agreements with several mire groups of companies, in particular, HBC Vek, TAM-Kyrylys, Merkur Grad, Beybarys Building, Nur Invest, StroyInvestGroup.

According to signed agreements, for purchasing of apartments in habitation complexes built by these companies it is possible to receive the mortgage loan in tenge at the rate not more than 13,5%, that is as before August crisis! To other particularities of new program of crediting the following may be related:

- Maximal term of maturity of credit is 30 years.

- Sum of initial payment is 20%. If 30% and more is paid, than the   confirmation of solvency is not demanded!

- Commission for organization of credit and prescheduled maturity – both   partial and full, are absent.

- Compensation of charges for insurance of borrower from accident and   insurance of property, being the pledge provision of the credit is taken by the bank on itself - at the expense of commission for maintenance of loan account.