OREANDA-NEWS. August 11, 2009. Kazkommertsbank (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

Kazkommertsbank ended to receive applications for refinancing of mortgage loans within the state program, having approved 6,140 orders for a total of KZT25.315 bn.

Of KZT24 bn, allocated by National wellbeing fund Samruk-Kazyna, the bank disbursed about 95 % of funds and refinanced 5,658 mortgage loans for a total of KZT22,675 m.

"During the implementation of the program work load on branch network of the bank increased several times, however, today all state funds are disbursed, and we are satisfied with results, as thousands of our clients made their mortgage loans cheaper, - head of business and product development department of Kazkommertsbank Tatiana Belova said. - In some cases the sum of monthly payment decreased 15 %".

Beginning March 2009, when the program started 8,506 people filed applications for refinancing in Kazkommertsbank, 7,907 applications were passed to consideration.

The most of mortgage loans was refinanced in Astana - 901 KZT4.8 bn worth. Almaty - 552 re-signed agreements KZT4.4 bn worth, Zhezkazgan, Aktobe, Aktau and Ust-Kamenogorsk - 395, 336, 321 and 318 refinanced loans correspondingly.

Kazkommerstbank ended to receive applications for refinancing August 1, 2009, the program itself will end on September 1, 2009.