OREANDA-NEWS. October 01, 2009. Development Bank of Kazakhstan (Astana), bonds of which are listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

The Kazakhstan Government on September 28, 2009 made a decision to increase capitalization of Development Bank of Kazakhstan for a total of KZT167.7 bn (USD1.1 bn). This is a historic high for the Bank and evidence of significant state support of the Bank and its important role in the Forced Industrial and Innovational Development Program (FIIDP).

The authorized capital of the Bank after additional KZT167.7 bn will reach KZT258.7 bn (USD1.7 bn). This level of capitalization will allow the Bank for providing financial stability and further developing assets, and attracting additional loans from foreign creditors and export and credit agencies with compliance of requirements to sufficiency of capital.

Therewith additional capitalization will increase possibilities for crediting of the largest projects in strategic areas. Besides, sufficient capitalization is an essential criterion when estimating financial standings of a bank by rating agencies and foreign partners.