SB Sberbank of Russia (Kazakhstan) provides USD50 mln to KAZEXPORTASTYK Holding

/KASE, May 22, 13/ – SB JSC "Sberbank of Russia" (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of May 21, 2013: quote OJSC "Sberbank of Russia" in association with SB JSC "Sberbank" has provided USD50 mln of funds to Kazakhstan's grain holding KAZEXPORTASTYK. JSC "KAZEXPORTASTYK Holding" is one of Kazakhstan's major grain sowing and exporting companies and it has long-term partnership with OJSC "Sberbank". Thanks to the funds the company will be able to develop production of various grain and oilseeds in Kazakhstan. "Implementation of the joint project with Sberbank has allowed the Holding to balance the Group's loan portfolio which will have a positive impact on further development of the business", – points out Igor Ermolenko, general director of JSC "KAZEXPORTASTYK Holding". JSC "KAZEXPORTASTYK Holding" is a partner of Kazakhstan-based Subsidiary Bank JSC "Sberbank of Russia" (Kazakhstan) since 2008. The company enjoys the full range of services including the cash management to corporate loans. Currently, JSC "KAZEXPORTASTYK Holding" is one the first grain companies in the country which completed a full overhaul of its agricultural machines. JSC "KAZEXPORTASTYK Holding" is one of the largest agricultural enterprises in the CIS in terms of crop area and it shows good performance on yield and crop output. "This transaction confirms Sberbank's interest in expanding the cooperation with Kazakhstan's major company operating in the country's agricultural sector. We are keen to fund such projects since they are of high social importance and they ensure financial stability and development of the country's economic potential", – stressed Shukrat Sadyrov, deputy CEO of SB JSC "Sberbank". For additional info please turn to the Bank's press-service: Press-secretary SB JSC "Sberbank" Marina Gazizova +7 727 334 22 79 (ext. 2105) e-mail: Marina.Gazizova@sberbank.kz lead specialist of PR division SB JSC "Sberbank" Viktoriya Rodenkova +7 727 334 22 79 (ext. 2358) e-mail: Victoria.Rodenkova@sberbank.kz unquote [2013-05-22]