Subsidiary Bank Sberbank of Russia issues advance payment guarantee to Sembol for USD26 mln

/KASE, April 14, 15/ – Subsidiary Bank Sberbank of Russia JSC (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release: quote SB Sberbank JSC (Kazakhstan) together with the Moscow Bank Sberbank of Russia JSC and Denizbank JSC (Turkey) issued to Sembol JSC (Turkey) an advance payment guarantee in the amount of USD26 mln for a period of 29 months. The transaction was executed under the contract for the construction of the second phase of research and education center – Nazarbayev University in Astana. "Russia, Kazakhstan and Turkey are strategic partners in the field of international trade flows and mutual investment projects. Sberbank and Sembol established long-term reliable partnership, supported by projects such as construction of Nazarbayev University and tv-radio center in Astana. And we are happy to once again take part in a major project of our client – construction of the second phase of research and education center – Nazarbayev University ", – according to Alexander Kamalov, Chairman of SB Sberbank. This project was a continuation of a long-term and successful partnership with Sembol Construction whereby Moscow Bank in December 2014 issued bank guarantees to Sembol JSC totaling to USD71 mln. For additional comments, please contact our Press Office: Tatyana Shevchenko Tel./Fax: +7(727) 266 35 68 www.sberbank.kz tatyana.shevchenko@sberbank.kz unquote [2015-04-14]