By 2023 DBK plans to increase loan portfolio to 2.6 trillion tenge

The directors board of the Development Bank of Kazakhstan (subsidiary of Baiterek National management Holding) adopted a new strategy for 2014-2023 years, according to the public relations department.

"In accordance with the designated key performance indicators (KPI), the loan portfolio of DBK is to be increased to 2.6 trillion tenge in 2023. The scope of financed by the Bank projects and investment programs over the next 10 years is to grow up to 4.4 trillion from 1.3 trillion tenge, the share of loan portfolio in total assets - up to 75% ", - the press release states.

DBK board chairman Askar Dostiyarov says the key objectives of the Bank are to increase the proportion of financing the borrowers in the national currency and to improve credit conditions for the investment projects.

"Ultimately, the Development Bank should become a financial institution providing  best financing in tenge, one of the largest banks in Kazakhstan in assets, the main agent in our country in attracting long-term and low-cost loans to corporate clients," - he stressed.

The updated strategy of the Development Bank, said Dostiyarov, is suited to the changed needs of the Kazakh economy and to the goals in the quinquennium of industrial-innovative development of the country.

The Bank intends to continue the practice of inter-bank lending and expand financial tools, syndicated lending including.

Rating scale will be first introduced to monitor implementation of the strategy, which will be published regularly on the Bank’s website by way of the public outreach, for the public at large to trace the fulfillment progress.

"DBK is committed to comprehensive development of strategic partnership with the commercial banks of the country to be able to jointly offer a solid funding to all the categories of investors - both large and medium businesses. These new emphases in the bank’s work will certainly increase access of the corporate sector of Kazakhstan to affordable long-term financing, "- said a member of the DBK Directors Board, independent director Ulf Vokurka.

The Development Bank of Kazakhstan (DBK) was established in 2001 and is a national institute of development for modernization and development of non-commodity and infrastructure sectors of Kazakhstan economy. Its main activities are development of industrial infrastructure and manufacturing, promoting and attracting foreign and domestic investment in the economy. DBK is one of the largest investment operators of state program for accelerated industrial-innovative development.