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9 May 2025, 13:26
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11.04.2025 14:52 #Corporate events

Development Bank of Kazakhstan provided clarifications on the report of the Supreme Audit Chamber

/KASE, April 11, 2025/ – Development Bank of Kazakhstan JSC (KASE ticker – BRKZ) has announced the following:

quote

The Development Bank of Kazakhstan (a subsidiary of Baiterek Holding) provides clarification regarding the information presented in a recent press release issued by the Supreme Audit Chamber of the Republic of Kazakhstan.

The rates provided by DBK within the framework of the programs strictly correspond to the parameters of financial and economic justifications approved by authorized state bodies.

The administrators of the programs, the sectoral ministries, set the maximum remuneration rates. The calculation of maximum remuneration rates for the preparation of the budget application is based on the ratio of market and budgetary borrowed funds, as well as the weighted average credit rating.

For reference: to determine the remuneration rate, DBK uses international approaches to risk management, including a credit rating scale corresponding to the systems of the world's leading agencies: Standard & Poor's, Moody's and Fitch.

In this regard, the Supreme Audit Chamber has found no violations on the part of the Bank concerning to non-compliance of remuneration rates with the terms of government programs.

unquote

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[2025-04-11]