PRESS RELEASE
Almaty
April 9, 2009
Today, strictly in accordance with the established schedule, Nurbank repaid a syndicated loan of $100 million and the accrued interest.
The deal organizers were Deutsche Bank AG (Germany), Raiffeisen Zentralbank Bank (Austria), and UniCredit Group (Italy). The syndicate included 13 banks, and the loan was attracted for 2 years at a rate of LIBOR +1.65% per annum.
The repayment of the syndicated loan is the only payment on external obligations for Nurbank in 2009. The payment was made from the bank's own funds, without refinancing or attracting additional borrowings, which confirms the stability and reliability of this financial institution.
As a result of the repayment of the syndicated loan, the share of external borrowings in Nurbank's funding structure decreased from 11% to 8%, one of the lowest among Kazakhstani banks.
The remaining external borrowings consist of Eurobonds amounting to $150 million maturing in 2011.
Nurbank is one of the ten largest banks in Kazakhstan. According to the results of the audited consolidated financial statements as of January 1, 2009, the bank's assets amounted to 298.8 billion tenge compared to 198.7 billion tenge on January 1, 2008, with the deposit base amounting to 185.5 billion tenge, having increased by 126.7 billion tenge during the year.