Subsidiary Bank Sberbank of Russia announces provision of KZT140.0 mln in funds to STYNERGY as part of government program of manufacturing support

28.11.17 10:17
/KASE, November 28, 2017/ – Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of November 28, 2017: quote Sberbank has closed a transaction with STYNERGY company in the framework of manufacturing industry state support for KZT 140 million. Financing will allow purchasing paint equipment for the product line of STYNERGY company. "Sberbank participates in a number of state initiatives to support business. Having extensive experience in this area, we understand that high-quality and expeditious drawdown of funds is one of the key conditions of effective implementation of programs. This is an excellent opportunity to modernize production for enterprises, which will allow to achieve growth in the manufacturing industry in Kazakhstan. Investment in this area is one of the priority tasks for Sberbank," Yeldar Tenizbayev, Deputy Chairman of the Management Board for Corporate Business of SB Sberbank JSC, says. This transaction is closed within the framework of the state manufacturing industry support program in Kazakhstan. According to the program, Kazakhstan Development Bank JSC allocates funds to commercial banks of Kazakhstan for lending of large-sized enterprises. "Today we use the advanced equipment for processing coated sheet steel, but the market is growing and we are aimed to develop our business together with it. Thanks to Sberbank’s financing and state support, we have the opportunity to purchase painting equipment that will allow moving to a new level of production, increasing competitiveness and strengthening the position of our company in Kazakhstan market," Yegor Vasilyev, CEO of Stynergy LLP, says. STYNERGY LLP has been operating in Kazakhstan market for 15 years and is the leader in the production of coated sheet steel. The company has a wide dealer network in the cities of Astana, Atyrau and Aktau, two plants in the cities of Almaty and Temirtau. SB Sberbank JSC is a part of Sberbank international group. The Bank has eleven - year successful experience in the financial market of the Republic of Kazakhstan and ranks 4th in terms of assets among second-tier banks of the Republic of Kazakhstan. Today, SB Sberbank JSC has a branch network of 83 structural subdivisions, 16 out of which are branches. The central office of the Bank is located in Almaty. For more information, please contact the following persons: SB Sberbank JSC Yekaterina Kupreyeva +7 (727) 266 35 68 (ext. 502499) e-mail: Yevgeniy Kruglik +7 (727) 266 35 68 (ext. 501237) e-mail: unquote [2017-11-28]