Auto lending terms at Sberbank are named as the best in the market according to analytical agency Ranking.kz

/KASE, August 21, 2020/ – Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated August 20, 2020: quote Analytical agency Ranking.kz has conducted a study of Kazakhstan auto lending market and decided that Sberbank offers the most favorable lending terms in this category. According to the agency, 5 STBs among the largest Kazakhstani creditor banks are offering special loan products for the purchase of new cars out of payroll card program. At the same time, Sberbank has a minimum annual effective rate in the segment: from 19.34%. In addition, Sberbank offers to issue a loan subject to a minimum down payment of 10% of the cost of a new car. “Obtaining a loan for the purchase of a car is one of the most demanded loan products in the market. We have tried to offer our clients the most favorable terms for auto loans and the most accessible process for obtaining a loan. We are glad that our efforts are showing progress, clients have appreciated the attractive terms for our auto loans. Thanks to this, every third new car in Kazakhstan is purchased through Sberbank,” Yeldar Tenizbayev, Chairman of the Management Board of SB Sberbank JSC, said. Ranking.kz notes that the relevance of the topic of auto lending in Kazakhstan is due to the obsolescence of the country's car fleet. Already today, almost two-thirds of the car fleet (65.3% versus 63.9% a year earlier) are old cars over 10 years old. New "iron horses" less than 3 years old account for only 10.9% of the total number. Thus, bank auto lending can become an effective tool for renewing and rejuvenating the country's car fleet. unquote [2020-08-20]