Development Bank of Kazakhstan disburses KZT20.0 bn to second-tier banks for preferential car loans

29.05.20 14:36
/KASE, May 29, 2020/ – Development Bank of Kazakhstan (Nur-Sultan), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of May 29, 2020: quote Development Bank of Kazakhstan JSC (a subsidiary of Baiterek National Managing Holding JSC, hereinafter - the Bank, DBK), in order to finance the program of preferential car loans, sent the next tranche for car loans in the amount of KZT 20 billion to second-tier banks (hereinafter – STB). By issuing bonds, DBK borrowed KZT 20 billion from Kazakhstan Sustainability Fund JSC (hereinafter referred to as KSF, a subsidiary of the National Bank), in accordance with resolution No.79 of the Management Board of the National Bank dated May 31, 2019. To date, commercial banks have received funds in the following amounts: SB of Sberbank JSC – KZT8 bln.; SO of VTB Bank JSC (Kazakhstan) – KZT5 billion; Fortebank JSC – KZT5 bln.; Halyk Bank of Kazakhstan JSC - KZT2 bln. unquote The complete press release is available on KASE website – [2020-05-29]