Bank CenterCredit announces participation in Program of strengthening financial stability of banking sector in Republic of Kazakhstan

23.10.17 11:44
/KASE, October 23, 2017/ – Bank CenterCredit (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote Bank CenterCredit announces that the National Bank of the Republic of Kazakhstan by a resolution No. 191 dated October 10, 2017, approved Bank CenterCredit (Bank) as a participant of the Program of strengthening the financial stability of the banking sector in the Republic of Kazakhstan (Program). The Program provides for funding from the National Bank's subsidiary – Kazakhstan Stability Fund – on account of issue of subordinated convertible bonds of the Bank. The Program also plans recapitalization of the Bank by its shareholders. Participation in the Program will positively influence the Bank's market standing and financial position. The amount of funds being received will enable compliance with new risk-oriented requirements of the regulator, higher profitability and capitalization, an extension of the resources base and increased lending of Kazakhstan's real sector. For additional info please turn to the Planning and Finance Department: dinara.dyusembekova@centercredit.kz , 8 7272 598-598 (10423) unquote [2017-10-23]