Subsidiary Bank Sberbank of Russia provides KZT1.85 bn to Alina Group

21.09.16 11:55
/KASE, September 21, 2016/ – Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote SB Sberbank has allocated a KZT1.85 bn credit limit to Alina group of companies. The funds obtained will be used to replenish the working capital of the company. The credit line is part of a United program "Business Road Map 2020". The company has already started using the funds under this line. "The complete production cycle companies of Kazakhstan – from production to delivery of finished products to local consumers – are a strong pillar of the country's economy. Furthermore, Alina is the made-in-Kazakhstan brand in the neighboring countries. So it's not just about the import substitution but also about a competitive export potential," Yeldar Tenizbayev, Deputy Chairman of the Management Board of SB Sberbank, said. Alina group of companies is the Kazakhstan's largest manufacturer and a distributor of building and finishing materials, including paints, industrial gypsum, calcite and marble chips. The company represents 60% of the local dry building mixes market and 28% of the local paints and varnishes market. unquote [2016-09-21]