OREANDA-NEWS. April 22, 2009. Kaspi Bank (Almaty), securities of which are listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release of the following content, reported the press-centre of KASE:

Today KZT2 bn. of KZT6 bn. issued to kaspi bank for implementation of the state program for refinancing of small and middle businesses is approved for distribution. KZT1.4 bn. is documented. 150 orders for the total of KZT5.5 bn. is under consideration for issue and planned for disbursement according to a schedule. Distribution was speeded-up due to simplification of rules set by fund DAMU and internal procedures of the bank.

Kaspi bank is distinguished implementing the state program for refinancing of small and middle businesses with over half of credit funds disbursed by new borrowers. Average loan issued by kaspi bank is KZT45 m. per client at average KZT55 m. in other banks, which is an evidence of bigger number of serviced clients and more time required for servicing clients. The bank is as well distinguished for crediting of all six economy sectors recommended by fund DAMU.

"We regard quality of loan portfolio very strictly, as the bank is responsible for the people's money provided to the bank", - says bank chairman Michael Lomtadze. - "We are attracting these resources not to receive profits, but, first to reduce risks of certain borrowers. Small and middle businesses are subject to risks in the current conditions and they have a smaller air bag than larger companies. Thanks to state loans we may reduce quality borrowers' risks, providing funds on a lower rate. The only thing which is important is a good credit history. We must as much as possible reduce risk that a client does not make payment on time".