Halyk Savings Bank of Kazakhstan utilizes funds disbursed by Entrepreneurship development fund Damu for support of SME projects

/KASE, October 27, 14/ – Halyk Savings Bank of Kazakhstan JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of October 27, 2014: quote Halyk Bank of Kazakhstan on time and in full utilized funds disbursed under the government program for support of small and medium-sized businesses in the manufacturing industry (hereinafter – the Program). In terms of quantity of funded projects (104, or 24% of the total number), Halyk Bank is an absolute leader among second-tier banks – participants of the Program. Overall, the Bank and EDF Damu have funded 104 projects worth KZT20 bn under the program, whereas 110 projects worth over KZT21.5 bn were approved. The Bank will continue funding of entrepreneurs within remaining projects worth KZT1.5 bn under the above-mentioned program on account of a secondary utilization of funds. In terms of disbursed and utilized funds Halyk Bank is among the top-3 banks. The main part of projects funded originates from the following industries: "food industry", "production of other non-metal mineral articles", "production of rubber and plastic articles", "manufacturing of ready-to-use metal articles, except for machines and equipment " etc. In April 2014 Entrepreneurship development fund "Damu" JSC and second-tier banks, including Halyk Bank of Kazakhstan, signed a loan agreement on disbursement of funds. Under this Program second-tier banks received KZT100 bn, of which KZT20 bn were disbursed to Halyk Bank of Kazakhstan. Completion of funds utilization was scheduled for October 2014. Press-service Halyk Bank of Kazakhstan JSC tel. +7 727 2 590 816, www.halykbank.kz unquote [2014-10-27]