OREANDA-NEWS. On January 04, 2007 Bank CenterCredit JSC (Almaty), shares and bonds of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list had provided KASE with the press-release of next contention, reported the press-centre of KASE.

Bank CenterCredit JSC on December 14 (fourteen), 2007 had signed the subordinated credit agreement with German development bank DEG for amount of 40 millions US dollars for 7 years' term. Subordinated credit will be included to calculation of second tier capital, which by its turn will lead to increase of Bank's capitalization. Borrowed money are planned to be use for financing of long-term projects of Bank's clients.

German development bank DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH, the member of banking group KfW Bankengruppe, is one of the largest European development institutions, activity of which is aimed on financing of long-term projects. More than 40 years DEG is investing to banks and private companies in developing countries and countries with transitional economy.

Starting from year 2003, CenterCredit had maintained the number of projects with German development bank. The new deal for borrowing of subordinated loan from DEG, enclosed in difficult conditions of financial instability both on international markets and in Kazakhstan, had confirmed the existing trust to bank as to stable financial institution with conservative policy and highly professional management.

As of October 1, 2007 assets of Bank CenterCredit JSC made KZT910,8 bn., shareholders' capital increased to KZT66 bn. Bank CenterCredit has international ratings from agencies "Moody's": "Aa1" and "Fitch Ratings": AA-.