VTB Bank (Kazakhstan) has spent funds allocated for SMEs support, but continues to help business


VTB Bank (Kazakhstan) mastered the funds allocated by Kazakhstan Sustainability Fund JSC to support entrepreneurs affected by the COVID-19 pandemic ahead of schedule. According to the terms of the state program, VTB received a limit of KZT 9 bln for preferential loans to small and medium-sized businesses at a rate of 8% per annum. Due to the fact, that some of the bank's customers have already started to repay the preferential loans, the bank managed to re-direct these repayable funds to implement the program and to increase funding to KZT 10.1 bln, having supported 23 customers.

Thanks to the program of preferential lending, the entrepreneurs from such areas as wholesale, production and sale of building materials, warehousing and storage of non-food products, automobile retail trade and other business spheres have received the support.

- Our bank works within the framework of 17 state programs aimed at supporting and developing entrepreneurship in the country. We are always ready to participate in such initiatives of the state. Naturally, during the pandemic, the introduction of the emergency regime and quarantine restrictions, we promptly took part quickly joined the provision of financial assistance to business, - said Dmitry Zabello, the Chairman of the Board of VTB Bank (Kazakhstan). - We see that concessional lending is a real measure that helps SMEs to keep their business running in the current context. Therefore, even having mastered the funds of one state program, we continue to actively finance business in the framework of other programs under the most favorable terms.

The Bank continues to support entrepreneurs in the framework of the “Business Roadmap – 2025”. VTB subsidized 525 projects for KZT 59 bln, and the bank approved as well over 190 projects in terms of guarantees for KZT 1,948 mln under this program. The “Business Roadmap” was amended this year, and these changes made it much easier for customers to get financing under the favorable terms.

Small and medium business is the basis for the development of the country's economy and work places for citizens, and therefore social stability. The Bank uses all available tools to support this cluster during the tight period.

Address all issues on preferential loans drawing, please contact the electronic mail box for SMB clients SMB_VTB@vtb-bank.kz. In addition, detailed information on banking services can be obtained by calling the hotline: 8 (727) 330 47 00 or on the website.