PRESS RELEASE
Almaty
JSC "Nurbank" signed an agreement with JSC "Samruk-Kazyna National Wealth Fund" and became a participant in the State Program for Refinancing Mortgage Loans.
Within the joint program of JSC "Samruk-Kazyna National Wealth Fund" and JSC "Nurbank", applications from borrowers for refinancing mortgage loans are accepted until August 1, 2009, inclusive. The period for utilizing the allocated funds, amounting to 1 billion tenge, is up to October 1, 2009.
The refinancing of mortgage loans is carried out in accordance with the methodological requirements of JSC "Samruk-Kazyna National Wealth Fund", whose main criteria are the absence of overdue debt on the loan as of the date of the refinancing application to the Bank. The housing acquired through the mortgage loan must be the sole property for the Borrower, their spouse, and minor children at the location of the Residence, with the residential area not exceeding 120 square meters.
Mortgage loans are subject to refinancing under the following categories:
- Social loans at a refinancing rate of 9% per annum;
- Ordinary loans at a refinancing rate of 11% per annum;
Mortgage loans issued under the State Housing Construction Development Program for 2005-2007 are not subject to refinancing.
JSC "Nurbank" is among the top ten banks in Kazakhstan. As of today, according to the audited consolidated financial statements as of January 1, 2009, the bank's assets amounted to 298.8 billion tenge against 198.7 billion tenge as of January 1, 2008, with the deposit base amounting to 185.5 billion tenge, increasing by 126.7 billion tenge over the year.