Kazinvestbank JSC (Kazakhstan) informed that EBRD increases the credit line TFP for bank to $60.0 m.
02.09.07 14:31
/KASE, September 2, 07/ - Kazinvestbank JSC (Almaty), securities of
which are traded in Kazakhstan stock exchange's (KASE) category "A"
official list had spread the press-release with next contention:
quotation begin
August 29, 2007, Almaty, KazInvestBank (KIB) informed that European
bank for reconstruction and development (ABRD) increased the credit
line for KIB to 60 m. dollars.
Singing the credit agreement in February of year 2007, KIB and EBRD had
started the cooperation from 10 m. US dollars. Last month the line was
increased to 30 m. dollars. Now the size of credit line had reached 60 m.
dollars, strengthening by that the cooperation of EBRD and KIB in the field
of development of financing the external trade in Kazakhstan. The given
program lets to increase the usage of letter of credits and banking
guarantees, and also cash financing of bank's corporate clients. KIB intends
to direct funds received by the program of EBRD for crediting of export-
import operations of its clients.
In June 2007 EBRD and СVCI invested 40 m. US dollars to capital of the
bank, having purchase 40% of its shares.
As of August 1, 2007 the size of assets of KIB exceeded KZT41 bn., leading
KIB to 14th place among second tier banks, credit portfolio exceeded the
indicator of KZT26 bn., and common capital of bank made more than KZT11 bn.
Quotation end
[2007-09-02]