Development Bank of Kazakhstan announces launch of "auto queue" online service

01.03.21 13:20
/KASE, March 1, 2021/ – Development Bank of Kazakhstan (Nur-Sultan), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote Sberbank, Forte Bank, Halyk Bank of Kazakhstan and VTB Bank Kazakhstan have launched an online auto queue service, allowing Kazakhstan citizens to check the status of an application for a preferential car loan under the domestic car manufacturers supporting program, without leaving their homes. The state program of preferential car loans is a huge success among Kazakhstan citizens. Every year, the number of people who want to get an “iron horse” at low interest rates increases rapidly. According to representatives of Development Bank of Kazakhstan (DBK, a subsidiary of Baiterek Holding), the key operator of the state program, if in March 2019 more than 13 thousand Kazakhstan people received car loans worth KZT 57.4 bln., in April 2020 their number exceeded 20 thousand people, the total amount of loans reached KZT 98.05 bln. As of January 28 this year, the six second-tier banks had issued 26 958 loans for the purchase of cars made by domestic car manufacturers for a total of KZT 135.8 bln. Although the procedure for obtaining a car loan is fairly straightforward and more funding is allocated to the program each year, the sheer number of applications means that Kazakhstan people have to wait months for their turn to get their cherished keys. Now, with the launch of an online service to check the status of applications, the process of obtaining a car loan has become even more transparent. unquote The complete press release is available on – [2021-03-01]