Subsidiary Organization VTB Bank (Kazakhstan) announces support of local businesses for KZT1.0 bn during state of emergency

27.04.20 11:46
/KASE, April 27, 2020/ – Subsidiary Organization VTB Bank (Kazakhstan) JSC, whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of April 27, 2020: quote Since the introduction of the state of emergency in the republic, VTB Bank (Kazakhstan) has been taking a series of measures aimed at supporting the country's entrepreneurs who suffered from the coronavirus pandemic. Currently, VTB has approved 200 loan deferral applications for SMEs, or almost 90% of the total mass of applications received. In addition, in early April, the bank became a member of the state program of preferential lending to small and medium-sized businesses, aimed at supporting business during the state of emergency. The allocated limit for the bank amounted to 9 billion tenge. As part of this program, about 1 billion tenge have already been allocated to end borrowers at a minimum interest rate of up to 8% per annum. Funding is provided without charging any fees. Among those who received preferential loans, are entrepreneurs from sectors of the economy such as trade and production of construction materials. unquote The complete press release is available on KASE website: - – in Kazakh; - – in Russian. [2020-04-27]