/KASE, October 18, 2019/ – Development Bank of Kazakhstan (Nur-Sultan), whose
bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided
the following press release dated October 18, 2019 to KASE:
Development Bank of Kazakhstan JSC (subsidiary of the Baiterek National Management
Holding JSC, hereinafter, the Bank, DBK) provides phased lending to second-tier
banks with the aim of financing individual buyers of Kazakhstani passenger cars
at the expense of the National Bank of the Republic of Kazakhstan (hereinafter
referred to as the NB, National Bank).
To this end, DBK, through the issuance of bonds, has borrowed funds from Kazakhstan
Sustainability Fund JSC (a subsidiary of the National Bank of the Republic of
Kazakhstan, hereinafter referred to as the KSF). Lending to buyers of passenger
cars is carried out as part of the Program for lending to buyers of cars of
domestic production, approved by the resolution of the Board of the National Bank
of the Republic of Kazakhstan dated May 31, 2019 (hereinafter referred to as the
Under the new Program, the first tranche in the amount of KZT 14.5 billion was
allocated to the following commercial banks:
- Halyk Bank of Kazakhstan JSC (KZT 4 billion);
- SB of Sberbank JSC (KZT 7.5 billion);
- SB VTB Bank JSC (Kazakhstan) (KZT 3 billion).
The remaining part in the amount of 5.5 billion tenge will be disbursed by the
banks until the end of this year.
DBK, as an operator, regularly monitors the disbursement of funds by these banks.
Detailed information is available on KASE website (in Russian) –