Finance • 13 September, 2018

Shareholders of Tsesnabank to increase capital by 40 billion tenge

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One of the largest and most systemically important banks in Kazakhstan, which plays an important role in implementing government financial measures to support agricultural producers within the framework of the State Program for the Development of the Agro-Industrial Complex, reports a stable operating regime.

To date, the bank operates in a stable mode, fulfills prudential standards and other requirements of the regulator, fully fulfills contractual obligations for payment and transfer operations of customers. For 26 years of its operations, the bank has earned a reputation as a reliable financial institution and partner

It should be noted that Tsesnabank is an active participant in government programs to support entrepreneurship. Within the framework of the Agrobusiness 2020 program, which is aimed at the improvement of the agro-industrial complex, since 2013 the bank has financed projects worth over 219 billion tenge. Thus, the bank is the flagship among the second tier banks in the implementation of the projects of the Program with a stake of over 65%.

At the same time, in order to reduce the debt burden of enterprises in the agro-industrial sector and improve their financial sustainability, Tsesnabank together with the KazAgro NMH within the framework of Agrobusiness 2020 are considering the issue of increasing the maturity of loans. The cooperation with Fund for Problem Loans JSC is also being considered.

In these circumstances, in order to further strengthen the bank's position in the financial market, the shareholders intend to carry out capitalization at the expense of their own funds in the amount of 40 billion tenge, which will constitute about half of the authorized capital of the bank.

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