Subsidiary Organization VTB Bank (Kazakhstan) utilized funds for support of entrepreneurs disbursed by Kazakhstan Sustainability Fund but continues supporting businesses
/KASE, July 7, 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 July 7, 2020:
VTB Bank (Kazakhstan) mastered the funds allocated by Kazakhstan Sustainability
Fund JSC to support entrepreneurs affected by the COVID-19 pandemic ahead of
schedule. According to the terms of the state program, VTB received a limit of
KZT 9 bln for preferential loans to small and medium-sized businesses at a rate
of 8% per annum. Due to the fact, that some of the bank's customers have
already started to repay the preferential loans, the bank managed to re-direct
these repayable funds to implement the program and to increase funding to KZT
10.1 bln, having supported 23 customers.
Thanks to the program of preferential lending, the entrepreneurs from such areas
as wholesale, production and sale of building materials, warehousing and storage
of non-food products, automobile retail trade and other business spheres have
received the support.
- Our bank works within the framework of 17 state programs aimed at supporting
and developing entrepreneurship in the country. We are always ready to
participate in such initiatives of the state. Naturally, during the pandemic,
the introduction of the emergency regime and quarantine restrictions, we
promptly took part quickly joined the provision of financial assistance to
business, - said Dmitry Zabello, the Chairman of the Board of VTB Bank
(Kazakhstan). - We see that concessional lending is a real measure that helps
SMEs to keep their business running in the current context. Therefore, even
having mastered the funds of one state program, we continue to actively finance
business in the framework of other programs under the most favorable terms.
The Bank continues to support entrepreneurs in the framework of the "Business
Roadmap – 2025". VTB subsidized 525 projects for KZT 59 bln, and the bank
approved as well over 190 projects in terms of guarantees for KZT 1,948 mln
under this program. The "Business Roadmap" was amended this year, and these
changes made it much easier for customers to get financing under the favorable
Small and medium business is the basis for the development of the country's
economy and work places for citizens, and therefore social stability. The Bank
uses all available tools to support this cluster during the tight period.
Address all issues on preferential loans drawing, please contact the electronic
mail box for SMB clients SMB_VTB@vtb-bank.kz. In addition, detailed information
on banking services can be obtained by calling the hotline: 8 (727) 330 47 00
or on the website.