OREANDA-NEWS. October 16, 2009. Subsidiary of joint stock company BTA Bank BTA Ipoteka (Almaty), bonds of which are present in Kazakhstan Stock Exchange (KASE) official list, provided to KASE the following press release, reported the press-centre of KASE:

In March 2009, Joint Stock Company Hypothecary organization BTA Ipoteka one of the first started refunding of hypothecary loans within the government program of National Welfare Fund Samruk-Kazyna. On October 1, 2009 refunding of hypothecary loans was successfully finished. During this period the company has drawn about KZT13 bn, and as a result 4,169 borrowers were able to improve crediting terms.

Within the program were refunded loans issued for procurement of housing with the area not exceeding 120 sq. m. As a result the interest rate decreased to 9% APR for individuals, entitled to receive the social loan, and to 11% - for remaining borrowers categories.

This refunding was implemented within the government stabilization program for 2009-2010 to support the population by decreasing the interest rate on hypothecary loans. The National Fund allocated for hypothecary loans refunding resources to 10 Kazakhstan banks KZT120 bn. the majority of fund were allocated to BTA Bank and made up over KZT37 bn. KZT13 bn were allocated to BTA Bank subsidiary BTA Ipoteka.