Development Bank of Kazakhstan invests KZT481 bn in manufacturing industry and infrastructure in 2019

29.01.20 15:49
/KASE, January 29, 2020/ – Development Bank of Kazakhstan (Nur-Sultan), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided the following press release dated January 29, 2020 to KASE: quote Development Bank of Kazakhstan JSC (a subsidiary of Baiterek National Managing Holding JSC, hereinafter – DBK, the Bank) continues to increase its loan portfolio, the volume of which according to the preliminary results of 2019 reached 1 728 billion tenge, an increase of 31.5 billion tenge or 1.9 % compared to 2018. At the same time, since the creation of the Baiterek Holding in 2013, the volume of the Development Bank's loan portfolio has increased by 4.6 times or 356%. DBK finished 2019 with a positive financial result - according to unaudited data, consolidated net profit amounted to 7.5 billion tenge. The volume of equity amounted to 424.1 billion tenge, an increase of 12.8% compared to 2018. During the reporting period, the Bank allocated 481 billion tenge for lending to the economy (including interbank lending in the amount of 28 billion tenge), and within the framework of direct lending, the Bank approved 11 investment projects and 3 export operations of non-resource industries for a total of 436.5 billion tenge. These are major projects such as: construction of SPP with capacity of 100 Mwatt in Kapchagai, construction of Saryarka Main Gas Pipeline, construction of a Plant for the production of methyl-tert-butyl ether in Shymkent, expansion of the processing capacity of MPP in Aktogay, provision of broadband access to rural settlements of the Republic of Kazakhstan using fiber-optic communication lines, construction of the second stage of a poultry plant for broiler farming in Akmola region, and other projects. unquote Full press release is available on KASE website (in Russian) – http://kase.kz/files/emitters/BRKZ/brkz_reliz_290120_1.pdf [2020-01-29]