SB Sberbank JSC and PNB Kazakhstan inform about cooperation
SB Sberbank JSC and "SB "PNB" - Kazakhstan" have agreed about long-term cooperation concerning financing of large investment projects in Kazakhstan.
«Association with the international financial institution, undoubtedly, will allow to realise even more effectively possibilities of bank regarding loaning of corporate clients. Besides, this form of co-operation will allow us to strengthen positions in bank system of Kazakhstan, and to reinforce our status of successful and dynamically -developing financial institution», - commented the Acting Chairman of Sberbank Shuhrat Sadyrov.
«PNB has a wide experience of work with a huge number of different bank products worldwide, including with the syndicated loans, uniting in consortia with banks. In the market of Kazakhstan it is the first experience of bank on granting of syndicated loan together with other big bank and I think that this practice will allow us to open new possibilities of loaning», – tells the Chairman of PNB Kazakhstan, Sanjay Kandpal.
This investment project of LLC «Salem Hotel Management» on building a hotel of international Ramada network in Almaty became the first joint project of two banks.
The total amount of project makes about 2 billion 450 million tenge of which 33,2 % will make loan funds of SB Sberbank JSC, 30,2 % - JSC "SB" PNB - Kazakhstan». Hotel Commissioning is planned to the middle of 2013. The hotel will settle down in city centre, in Almaly district. The hotel total area will make 12 000 sq. m. for 162 rooms.
SB Sberbank JSC is a subsidiary bank of the Sberbank of Russia in Kazakhstan; it has been successfully operating on the financial market of Kazakhstan for more than five years. The Bank is ranked 6th by the volume of its total assets among all second-tier banks of Kazakhstan.
As of today the SB Sberbank JSC has branch network consisting of 96 structural divisions, including 13 branches. Central office of the Bank located in Almaty.
JSC "SB "PNB" - Kazakhstan" is a subsidiary of Punjab National Bank, one of the largest bank based in India since 1895 and serving 63 million customers through more than 5,200 different offices with total business size of 126.84 billion U.S. dollars and net profit of 994 million U.S. dollars in previous year. It has presence in 10 countries including cities like London, Hongkong, Dubai, Shanghai, Sydney and Almaty.
In 2010, Punjab National Bank India has acquired a controlling stake in Kazakh bank JSC "Danabank", which in turn was renamed Joint - Stock Company "Subsidiary bank "Punjab National Bank" - Kazakhstan".
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