At the beginning of February 2016 VTB Bank (Kazakhstan) and DAMU Entrepreneurship Development Fund JSC signed a new agreement on participation in the state financing program for regional priority SME projects Damu regions III in the amount of 500 000 000 tenge for a period of 7 years.
Subsidiary of VTB Bank (Kazakhstan) fruitfully cooperates with Damu EDF since 2011. Within the framework of the implementation of state programs aimed at small and medium business development VTB Bank (Kazakhstan) is a member of the Unified business support and development program Business road map 2020, Program of small and medium business regional priority projects financing Damu regions III, as well as Women’s entrepreneurship micro-crediting programs.
As of 01.01.2016 within the framework of the Unified business support and development program Business road map 2020 the Bank's portfolio has 339 loans (within the framework of the Program directions 1 and 2) to the amount of more than 11.5 billion tenge, among them 37 loans have been provided in the cities of Almaty and Astana and 302 loans - in the regions of the republic.
As regards to conditional placement of funds within the framework of Damu regions III and Women’s entrepreneurship programs as of 01.01.2016 the Bank's portfolio has 190 loans to the amount exceeding 1.5 billion tenge, among them 15 loans were assimilated in the cities of Almaty and Astana and 175 loans in the regions of the republic.
- Successful assimilation of financial resources within the framework of the state programs was made possible thanks to the close cooperation of the Bank with Damu Fund. For implementation of the set objectives the Bank has developed a special methodological framework, on ongoing basis conducts workshops and working groups with the participation of the Fund employees. During consideration of the projects, the Bank is ready to provide financing conditions acceptable for entrepreneurs, such as low interest rate, loan period up to 7 years (investment projects), formation of individual repayment schedule, taking into account the business, repayment grace period, Chairperson of the Management Board of VTB Bank (Kazakhstan) Dmitry Zabello says. - Successful cooperation of the Bank with Damu Fund allows us to say that in the future all joint projects will contribute to the strengthening of small and medium-sized businesses in Kazakhstan and the country's economy development.
The Bank is oriented on financing projects aimed at development of regions in Kazakhstan. Among the priority directions, there are innovations in production, agriculture, women's entrepreneurship and processing industry.
Subsidiary VTB Bank JSC (Kazakhstan) is a member of the VTB international financial group. The Bank more than 6 years successfully works in the financial market of Kazakhstan, and occupies the 20-th place in terms of amount of assets among all second-tier banks in Kazakhstan. To date, Subsidiary VTB Bank JSC (Kazakhstan) has a branch network consisting of 37 structural subdivisions, including 17 branches. The Bank's Central Office is located in Almaty. The license of the National Bank of the RK No. 1.2.14/39 dated December 23, 2014.
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Subsidiary VTB Bank JSC (Kazakhstan)
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