Development Bank of Kazakhstan reported results for the first half of 2012

/KASE, August 29, 12/ - Development Bank of Kazakhstan (Astana), bonds of which are officially listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following press release of August 28, 2012: quotation On August 28, in Astana the press conference has been held devoted to Development Bank of Kazakhstan activities results (DBK or the Bank) for the first half of 2012. Also, during the event were reported results of the Bank activities as one of the largest investment operators of government industrial and innovative programs (GIIP). By results of 6 months of 2012 the Bank income made up KZT11.6 bn. The net income was formed as a result of quality improvement of assets and the increase of interest yield on its credit portfolio and the costs decrease. In the reporting period the Bank approved and funded new investment projects. Thus, from the beginning of the year the Bank approved 6 large investment projects to the total amount of KZT690 bn, the Bank funding makes up KZT330 bn. Four out of six in the current year projects of the Bank enter GIIP. In the first half of 2012, the Bank approved for funding the following projects: construction of deep oil processing on Atyrau Oil Processing Plant (third phase), production of rolled steel in Kostanai, extension of Karaganda heat station-3, construction of the first integrated gas and chemical complex in Atyrau Region. The projects total cost approved in 2012 under GIIP is USD4.1 bn with involvement of DBK in the size of USD1.9 bn. The next main aspect of work is support of existing DBK projects. In particular, on the program "Business Road Map" investment support has been provided to projects: "Tau Terminal", "Cristal Management", "Agromash Holding", "Zapchast", "Kaustik", "Eurasia Transit Group", "Ridder Heat Station", "Maikuduk Poultry Plant", "Farab". The inclusion of the Business Road Map was initiated by the Bank for additional support of borrowers working in the non-resource sectors. The Bank revised strategy is under consideration of NWF Samruk-Kazyna. ends [2012-08-29]