OREANDA-NEWS. Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release:

"SB Sberbank JSC has concluded the memorandum with Bayterek Development JSC within implementation of housing construction project of Nurly Zhol Infrastructure Development State Program for 2015 - 2019. The document was signed by Deputy Chairman of the Management Board of SB Sberbank JSC, Yeldar Tenizbayev, and Deputy Chairman of the Management Board of Bayterek Development JSC, Altay Kuzdebayev.

Within the cooperation Bayterek Development JSC shall attract builders to implement the program, and Sberbank shall provide them with performance bond and advance payment guarantee".