OREANDA-NEWS. Kazkommertsbank JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of June 18, 2015:

"...Kazkommertsbank (hereinafter – the Bank) signed a bank deposit agreement with Bad loans fund JSC for placement in the Bank of KZT38.1 bn for 20 years under the government program of mortgage refinancing. The funds received will be directed to refinancing of debts on mortgage loans of clients of the Bank, BTA Bank and BTA Ipoteka.

According to terms of the program, mortgage loans can be refinanced which were obtained from January 1, 2004 to December 31, 2009 secured with real estate or land plot and meant for consumer purposes under pledge of real estate or land plot".