Пресс-центр

Almaty, 18 July 2018 — JSC Halyk Bank (the Bank) has received a target tranche in the amount of KZT20.255 billion, for a period of 20 years, for the implementation of the state program for refinancing mortgage housing/mortgage loans (the Program). The corresponding agreement on the Bank's participation in the Program has been signed with JSC Kazakhstan Sustainability Fund.

The program launched in Spring 2015 on the basis of resolution of the National Bank of Kazakhstan[1], is aimed at solving the problem of payments on mortgage loans issued in foreign currency to Kazakhstani borrowers who have difficulties in repaying debts on these loans. To this end, the Program provides for mitigating the terms of payments for the maximum possible number of borrowers for all mortgage loans, including currency loans refinanced with the replacement of currency to tenge after 18 August 2018. Thanks to the implementation of the Program, it is planned to reduce the levels of problem loans and dollarization of the economy.

In 2018, the conditions of the Program were extended to bring them in line with the requirements of the National Action Plan for the implementation of the State of the Nation Address dated 10 January 2018.

Thus, for bank loans that meet the requirements of the Program, which have been granted in the period from 1 January 2004 to 31 December 2009 and secured by real estate being the only house of the borrower, a land plot, non-residential premises, the following conditions of the Program apply:

1. When converting currency loans to tenge, the NBRK’s official rate is applied as of 18 August 2015 (KZT188.35 per US dollar);
2. The outstanding debt under the loan is refinanced at the rate of not more than 3% per annum with a loan term of up to 20 years;
3. Loans under which the outstanding principal exceeds KZT36.47 million (or the equivalent in foreign currency at the rate of the NBRK as of 1 January 2015) are allowed to be refinanced, provided that the borrower repays the outstanding principal to the required amount under the program, at the time of applying for loan refinancing. At the same time, the outstanding fees, forfeit (fines, penalties) and interest due from the borrower (including capitalized amounts) are not taken into account and subject to write-off when the loan is refinanced.

For bank loans in foreign currency that meet the following criteria:

• the loan was granted  before 1 January 2016 (including loans refinanced with the replacement of the currency to tenge after 18 August 2015);
• the amount of the principal debt does not exceed KZT166,165 million (or the equivalent in foreign currency at the rate of the NBRK, as of 1 January 2018 - KZT332.33 per US dollar);
• collateral for the loan is real property, the share in the residential building put on hold (apartment), acquired under Agreement on share participation in housing construction;

— the following terms and conditions apply:

• when converting currency loans to tenge, the NBRK’s official rate is applied as of 18 August 2015 (KZT188.35 per US dollar);
• the rate of no more than 3% per annum for borrowers being classified as ""Vulnerable Social Group"" (see the criteria below);
• the rate of no more than 12% per annum for borrowers classified otherwise (if the interest rate is less than 12% per annum under the current bank loan agreement – it will not be increased when it is refinanced).

According to Article 68 of the Law of the Republic of Kazakhstan No. 94-I dated 16 April 1997 ""On Housing Relations"", the vulnerable social group includes:

• disabled persons and participants of the Great Patriotic War;
• persons equal to disabled persons and participants in the Great Patriotic War;
• disabled persons of groups I and II;
• families having or bringing up disabled children;
• persons with nasty forms of some chronic illness listed in the list of diseases approved by the Government of the Republic of Kazakhstan;
• old age pensioners;
• a repatriated Kazakh;
• persons who lost their homes as a result of environmental disasters, natural and man-made emergency situations;
• large families;
• orphaned children and children without parental support, who have not reached the age of twenty-nine, who have lost their parents until adult age;
• families of persons who have lost life (died) while performing state or public duties, military service, during preparation to, or a flight to cosmic space, during saving human life, policing;
• incomplete families.

To apply for loan refinancing, the borrower must submit to the relevant subdivision of the Bank (link to the list of subdivisions accepting applications from customer) the full package of documents required for passing resolution on the loan refinancing.

The minimum list of documents submitted by the borrower/co-borrower for loan refinancing review:

• application for loan refinancing;
• identity documents of the borrower/co-borrower/pledgor (in case of their participation)/husband (wife) of the borrower/co-borrower/pledgor,
• certificate of marriage registration (if married)/, notarized statement of the pledger that he/she was not married/is not married at the time of submitting the application for refinancing of the mortgage housing loan/mortgage loan;
• documents confirming borrower’s social vulnerability, in accordance with the legislation;
• report of an independent appraiser on the appraisal of real estate (required for problem loans with effective court decision and loans the borrowers of which have died and be payable by heirs);
• certificate of absence (availability) of immovable property with the borrower and spouse in the territory of the Republic of Kazakhstan (certificate of the competent state authority), as of 1 January 2015;
• certificate of recorded entitlement (encumbrances) on real estate and its technical characteristics (certificate of the competent state authority);
• certificate of registered and terminated titles (encumbrances) for immovable property (certificate of the competent state authority);
• other documents that can be requested by the Bank when reviewing the application.

Press Service
JSC Halyk Bank
Tel. +7 727 2 590 816
pr@halykbank.kz
www.halykbank.kz