/KASE, October 13, 11/ - Kazkommertsbank (Almaty), whose securities are
officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press-release of October 13, 2011:
Kazkommertsbank (the "Bank"), one of the largest banks in Kazakhstan and Central
Asia, announces today that DAMU Small Entrepreneurship Development Fund has
extended a loan to the Bank in the amount of KZT 7.4 billion as part of the
investment program of Asian Development Bank (ADB) for financing small and
The proceeds received by Kazkommertsbank will be used to provide SME clients
with funding at a rate of 12.5% per annum for up to five years (effective rate
from 13.96 % per annum) to finance working capital and investments into new and
modernization of existing fixed assets.
Maximum loan amount per borrower - KZT440 m, financing purposes - replenishment
of working capital, purchase of new and modernization of current fixed assets.
The program will last until August 2016.
The full press-release is available on KASE website, at:
- in Russian;
- in English.