Summary of Proposed Investment
Project Number
11574
Company Name
SB RBS KAZAKHSTAN JSC
Date SPI Disclosed
Jul 18, 2002
Country
Kazakhstan
Industry
Financial Markets
Projected Board Date
Aug 30, 2002
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Aug 24, 2002
Signed : Apr 23, 2003
Invested : Apr 23, 2003
Project Description
As of December 31, 2001, ABNK''s total assets reached US$199 million equivalent. Equity was US$37 million equivalent, and corporate deposits were US$156 million equivalent. ABNK''s main business focus is on companies, both international and domestic, in providing them with a range of products, such as loans, trade finance, retail, cash deposits, custody and advisory services. The bank has started to actively offer new derivative products and financial tools for clients in trading, such as swaps, (reverse) repurchase agreements, and forwards.
As the economy has stabilized and the leading Kazakh companies have matured, it is becoming increasingly competitive for banks to meet the necessary financing needs of medium size Kazakh companies. By providing tier-II capital support to an excellent Kazakh client, the proposed project would enable ABNK to provide necessary financing to quality local companies where single client exposure limits present a problem for the bank. Also, the proposed loan facility will help to address the existing limitations of the Kazakh banking sector in providing term financing to the growing Kazakh businesses.
As the economy has stabilized and the leading Kazakh companies have matured, it is becoming increasingly competitive for banks to meet the necessary financing needs of medium size Kazakh companies. By providing tier-II capital support to an excellent Kazakh client, the proposed project would enable ABNK to provide necessary financing to quality local companies where single client exposure limits present a problem for the bank. Also, the proposed loan facility will help to address the existing limitations of the Kazakh banking sector in providing term financing to the growing Kazakh businesses.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Milana Gorshkova, Investment Officer
Email: MGorshkova@ifc.org
Email: MGorshkova@ifc.org