The leading operator in the telecommunications market of Kazakhstan, Kcell JSC, has signed an agreement to increase the credit limit from KZT 6 billion to KZT 7 billion with VTB Bank (Kazakhstan). The term of the credit line is provided until October 15, 2023 with the payment of interest in the amount of 10.7% per annum. The company intends to use the funds received to replenish its operating assets.
- The increase of the credit line is an excellent example of a successful three-year partnership between the Bank and Kcell JSC. We welcome the intention of our partner to invest in the development of its network and are ready to support the future projects, - noted Arman Mangitov, the Deputy Chairman of the Management Board, member of the Management Board of VTB Bank (Kazakhstan).
Kcell JSC provides mobile voice communications, short message transmission, value-added services (VAS), such as multimedia messaging, access to mobile content, as well as data transmission services, including access to the Internet. The company is represented in the market by two brands, such as Kcell, whose target audience are the corporate clients (including government agencies) and Activ, which is focused on mass market subscribers. The company provides services through its extensive high-quality mobile network, which covers almost the entire territory of the Republic of Kazakhstan.
Subsidiary JSC VTB Bank (Kazakhstan) is a member of the VTB international financial group. The Bank has successfully worked more than 11 years in the financial market of Kazakhstan. To date, Subsidiary VTB Bank JSC (Kazakhstan) has a branch network, consisting of 17 affiliates, located in all regions of the country. According to S&P Global Ratings, VTB (Kazakhstan) has one of the highest credit ratings among all second-tier banks of Kazakhstan. The Bank's Central Office is located in Almaty. The license of the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market No.1.2.14/39 dated February 3, 2020.
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