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

Tsesnabank has fully disbursed KZT1 bn, allocated through National wellbeing fund Samruk-Kazyna under the mortgage loan refinance program, a month ahead of schedule.

At the end of June after second-tier banks had finished the first stage of the mortgage loan refinance program; un-disbursed funds were reallocated. On May 14, 2009 Tsesnabank ahead of schedule disbursed KZT3 bn, refinancing 810 clients. The Bank received additional KZT1 bn.

At the second stage as on August 28, 2009 212 borrowers were able to refinance mortgage loans at a more favorable interest rate. Thanks to its branches Tsesnabank managed to organize loan refinance procedure in nearly all regions.

1,022 clients were refinanced for a total of KZT 4 bn thanks to the program. The biggest number of approved orders was registered in Astana, Pavlodar and Stepnogorsk - 28, 18 and 11% correspondingly. The biggest volumes were registered in the capital - 41%, with Pavodar - 12% and Almaty - 10%.

"Tsesnabank is an active and reliable agent of state-run programs intended to support Kazakhstan citizens. We are always good at disbursing funds, so that our clients receive aid and benefit in terms", - bank chairman Dauren Zhaksybek said.

Positively, amidst the crisis government support was helpful for financial standings of borrowers and the whole country. In this regard Tsesnabank announced its readiness to further cooperate with Samruk-Kazyna for the sake of the domestic economy.

Tsesnabank was founded in 1992 and is the only commercial Kazakhstan bank based in Astana. The bank enjoys 18 branches and 59 service points in Kazakhstan. As on August 1, 2009 bank assets in accordance with IFRS totaled KZT148.74 bn, own capital - KZT16.07 bn. Net income reached KZT872.67 m.