OREANDA-NEWS. February 10, 2010. Tsesnabank (Astana), listing on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

Tsesnabank (the Bank) repaid 3-year Eurobonds for a total of USD125 m. This issue was placed in February 2007 through special subsidiary Tsesna International B.V. under guarantee of Tsesnabank.

The repayment was made independently by the Bank. In 2008-2009 a part of the Eurobonds was redeemed and annulled by the Bank.

"This Eurobond issue was the largest foreign debt of the Bank. The redemption is confirmation of stable operation of the Bank and its strategy amidst the harsh global conditions. We value the trust of the international investor community demonstrated three years ago at the Eurobond debut issue, in this regard, despite the global crisis, the priority was full and timely compliance with  obligations before the investors. We hope to continue with this cooperation and feel grateful towards our creditors for the trust", - Tsesnabank chairman  Dauren Zhaksybek said.

Currently the Bank has not other large foreign debt and the Bank has the least foreign debt among the ten largest Kazakhstan banks without account to subsidiary banks with foreign interest (Note: as on February 5, 2010 the Bank roughly has 2 % of foreign debt). Historically the Bank has been mainly funded by individual and corporate deposits constituting for 75 % of bank liabilities  as on 31.12.2009 and showed a surplus of 48 % in 2009 (which 1.5 times exceeds aggregate surplus in the Kazakhstan banking sector). The coefficient of loan provisions with deposits exceeds 100 %. In respect of these indicators characterizing a stable and balanced funding structure, the Bank is a leader in the banking sector which is an undisputed confirmation of client trust and successful Bank strategy.