Subsidiary Bank "Sberbank of Russia" (Kazakhstan) announces funding for industrial and innovative projects with assistance of Development Bank of Kazakhstan

/KASE, March 12, 14/ – Subsidiary Bank JSC "Sberbank of Russia" (Almaty, hereinafter – the Bank), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the press-release of March 12, 2014: quote Sberbank to finance the Country's industrial and innovative projects worth 14 billion tenge 11 billion tenge has been allotted by the Development Bank of Kazakhstan (DBK), whereas 20% are Sberbank's own funds. The projects will be financed under the Program aimed to support the Country's industrial and innovative development. The Program was launched in December 2013. DBK allotted 45 billion tenge for the first phase of its implementation. "We are thankful to the Development Bank of Kazakhstan for its confidence. I am sure that the efficient application of the parties' potential will contribute to the further mutually beneficial cooperation. The financing will be available to companies operating in the real sector of the economy with the view of implementation of investment projects, export transactions and replenishment of the working capitals," says Chairman of the Board of Sberbank in Kazakhstan, Aleksandr Kamalov. "The commercial bank funding program is supposed to develop private entrepreneurship in Kazakhstan. Therefore, end borrowers are in the focus of DBK. Lending parameters have been agreed upon with the partner banks. The final rate must not exceed 11.5% p.a. I would like to emphasize that the loans are issued in the national currency, tenge. Thus, companies that will be financed by DBK under the Program will bear no exchange risks. Sberbank is the largest financial institution in the CIS countries. It is no coincidence that Sberbank has been selected as one of our partners," emphasized Acting Chairman of the DBK Board, Askar Dostiyarov. You may contact the Press Service at any time to receive additional comments: SB Sberbank JSC Yekaterina Kupreeva +7 (727) 266 35 68 (ext. 502499) mobile: +7 702 18 16 127 e-mail: yekaterina.kupreeva@sberbank.kz Development Bank of Kazakhstan JSC Dinara Joldaspayeva +7 71 72 79 26 08 (ext. 7432) mobile +7 701 49 85 314 e-mail: DinaraJ@kdb.kz unquote [2014-03-12]