Alliance Bank JSC launches new program on restructuring loans of small and medium businesses
ALMATY. 12.01.2010. KAZINFORM /Yekaterina Ionova/ The Alliance Bank JSC launches a special program on restructuring the loans of small and medium businesses. The representatives of the Bank announced it at a press conference in Almaty today.
The program which is planned to be implemented in two stages provides for a package of measures on reducing the debt load of the bank's borrowers - small and medium businessmen, Vice Chairman of the Board of the Bank Rinat Shamsutdinov said.
The first stage of the program will cover the period from January 15 to March 1 during which the problematic borrowers with over 60 day past-due payments will be able to restructure their loans.
This category of customers is provided with 15% rate of return in U.S. dollars and Euro and at 16% in the tenge. The term of the loan is prolonged up to 24 months.
The second stage will be implemented in the period from March 1 to May 1, 2010. The borrowers with no past-due payments as well as the customers who has less than 60 day past-due payments will be able to restructure their loans at this time. Such borrowers are provided with 14% rates of return in U.S. dollars and Euro and 15% in the tenge.
"Over 2, 400 borrowers are expected to be involved in the program's realization. Due to it they will lower their monthly payments by 30% in average", Karlygash Aralbekova, Director of the Small and Medium Businesses Department says.
The program does not cover the loans provided within the state programs on small and medium businesses support.
The program which is planned to be implemented in two stages provides for a package of measures on reducing the debt load of the bank's borrowers - small and medium businessmen, Vice Chairman of the Board of the Bank Rinat Shamsutdinov said.
The first stage of the program will cover the period from January 15 to March 1 during which the problematic borrowers with over 60 day past-due payments will be able to restructure their loans.
This category of customers is provided with 15% rate of return in U.S. dollars and Euro and at 16% in the tenge. The term of the loan is prolonged up to 24 months.
The second stage will be implemented in the period from March 1 to May 1, 2010. The borrowers with no past-due payments as well as the customers who has less than 60 day past-due payments will be able to restructure their loans at this time. Such borrowers are provided with 14% rates of return in U.S. dollars and Euro and 15% in the tenge.
"Over 2, 400 borrowers are expected to be involved in the program's realization. Due to it they will lower their monthly payments by 30% in average", Karlygash Aralbekova, Director of the Small and Medium Businesses Department says.
The program does not cover the loans provided within the state programs on small and medium businesses support.
Resourse: KAZINFORM
