Subsidiary of Sberbank of Russia (Kazakhstan) successfully used resources within the beneficial crediting of small and medium size businesses

/KASE, April 3, 09/ - Subsidiary of Sberbank of Russia (Almaty), bonds of which are present in Kazakhstan Stock Exchange (KASE) official list, provided to KASE the press release where informs that on the Government conference call on March 30, 2009, were analyzed the interim results of the Program on beneficial crediting of MSB subjects by the second-tier banks jointly with Fund DAMU. The Chairman of National Welfare Fund Samruk-Kazyna Kairat Kelimbetov in conclusions emphasized that SB Sberbank is among Kazakhstan financial institutions who successfully implemented the set objective. As Chairman of National Welfare Fund Samruk-Kazyna Mr. Kelimbetov emphasized SB Sberbank shows good paces of resources utilization allocated by the government for development and support of SMB. SB Sberbank is the Kazakhstan bank with Russian participation proves that the government entrepreneurship program development is one of the bank priorities. SB Sberbank joined the Fund DAMU financed SMB beneficial crediting program beginning the third tranche. As of April 1, 2009, SB Sberbank approved decisions on crediting of the number of enterprises to the total amount of KZT1 bn. 721 m. Background The entrepreneurship development fund DAMU for implementation of emergency measures plan on ensuring stable economic development of the country, approved by resolution of the Government of the Republic of Kazakhstan of November 6, 2007, on December 6, 2007 signed agreements with second-tier banks (STB) for allocatoin of the Fund resources for implementation of the program tranche I. The program tranche II allocation through STB started in July 2007. On February 25, 2009, SB Sberbank joined the tranche III of DAMU implemented STB funding projects stabilization program. [2009-04-03]