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HSBC Bank Kazakhstan allots $300mln for refinancing of mortgage loans

ASTANA. March 30. KAZINFORM. /Kanat Kulshmanov/ Bakhytzhan Sarkeyev, Executive Director of “Samruk-Kazyna” National Welfare Fund and Simen Munter, CEO of HSBC Bank Kazakhstan have signed a memorandum of joint measures to support the real estate market participants through refinancing of mortgage loans issued to individuals for purchase of housing. HSBC Bank Kazakhstan offers preferential terms for refinancing of mortgage loans that do not fall within the requirements of the Government’s Stabilization Plan. “Documents of many citizens, filed for the program of refinancing, turned to be out of requirements of our program. In this context HSBC Bank Kazakhstan initiated equity financing of such mortgage loans. We believe this is a good alternative”, B. Sarkeyev said. “The refinancing rate is 12,99%. The lending period is 20 years. USD 300 million is budgeted for refinancing of loans”, S. Munter noted. HSBC Bank Kazakhstan has its affiliates in Astana, Almaty and Atyrau. It also plans to open branch offices in Aktau and one more in Almaty.


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