DBK plans to increase loan portfolio to $500 m. by the end of the year

/INTERFAX-KAZAKHSTAN, Astana, January 31, 06/ - State Development bank of Kazakhstan JSC (DBK) plans by the end of 2006 to increase volume of loan portfolio to $500 m. "DBK Board of directors approved medium-term plan, where rather precisely qualitative and numeric indexes are specified. In 2006 we plan to approve investment projects for the amount nearly $200 m. and by the end of the current year to be close to loan portfolio of nearly $500 m.", - Kambar Shalgimbayev, president of DBK informed on Tuesday at press conference in Astana. According to his prognosis, in 2006 "volume of the bank's assets will increase twice, and by the end of the current year it will be nearly $2 bn." The head of DBK noted, that the bank's net income "annually is not less KZT2 bn." (current 132.17/$1). "And this is correct, because, though we are the bank, which works on principles of commercial payback, but our margin is minimum, and averagely on loan portfolio now it is a little over 1%", - he said. As it was informed, the bank's loan portfolio by the end of 2005 was $353.7 m., having increased within last year by 58.3%. Development bank of Kazakhstan JSC is established on May 31, 2001 with a view to improve and increase efficiency of state investment activity. [2006-01-31]