Development Bank of Kazakhstan allocates additional KZT5.5 billion to second-tier banks for program of preferential car loans

19.12.19, 13:45
/KASE, December 19, 2019/ – Development Bank of Kazakhstan (Nur-Sultan), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided the following press release dated December 18, 2019 to KASE: quote Development Bank of Kazakhstan JSC (a subsidiary of Baiterek National Management Holding JSC, hereinafter referred to as the Bank, DBK), in order to finance the Preferential Car Loan Program (hereinafter referred to as the Program), transferred additional 5.5 billion tenge to the second-tier banks (hereinafter referred to as the STB). Commercial banks received funds in the following amounts: Halyk Bank of Kazakhstan JSC: 2 billion tenge, SB Sberbank JSC: 1.5 billion tenge, SB VTB Bank JSC (Kazakhstan): 2 billion tenge. Let us recall, that in October of this year DBK announced the allocation of KZT 14.5 billion for financing the program of preferential car loans. Then the tranche was distributed between Halyk Bank of Kazakhstan JSC (4 billion tenge), SB Sberbank JSC (7.5 billion tenge) and SB VTB Bank JSC (Kazakhstan) (3 billion tenge). unquote Full press release is available on KASE website (in Russian) – https://kase.kz/files/emitters/BRKZ/brkz_reliz_181219_1.pdf [2019-12-19]