Eurasian Bank obtained the third tranche within the framework of the domestic auto industry support program

January 24, 2018, Almaty. Eurasian Bank obtained the third tranche in the amount of 1, 875, 000, 000 (one billion eight hundred seventy-five million) tenge from Development Bank of Kazakhstan within the framework of the State program for preferential car loans. The funds have been allocated for lending to individuals - buyers of vehicles manufactured in Kazakhstan by Asia Auto JSC and SaryarkaAvtoProm LLP under the preferential terms.

The basic conditions of lending:

- the maximum cost of the vehicle is 15, 000, 000 tenge.

- lending period - up to 84 months

- interest rate - 4.0% per annum

- annual effective rate of return - from 4.1% per annum

- downpayment - up to 20% of the car cost

- bank fees - not provided for

* Customers pay their own expenses for insurance and registration of the vehicle as pledge. The beneficiary of KASKO insurance is the Bank.

 

In 2015-2016, within the framework of the domestic auto industry support state program two tranches were allocated to Eurasian Bank for the total amount of 7,310,000,000 (seven billion three hundred ten million) tenge. The money was disbursed in a short time: within 2 months.

It is worth noting that the Program for preferential car loans is of the revolving character - due to the funds coming from the principal debt repayment by individuals who have already received a loan, new loans are issued for purchasing cars.

About the Bank

Eurasian Bank is one of the socially important commercial banks in Kazakhstan with a 24-year history of development. The financial institution occupies a leading position in the retail banking market, provides a wide range of services to corporate and SME customers. On September 4, 2017, the Eurasian Bank Board of Directors adopted the development strategy of the financial institution until 2022 focused on retail business development. Eurasian Bank belongs to the owners of Eurasian Resources Group S.a.r.l. («ERG»),  a large diversified company. The shareholders of the Group: Aleksandr Mashkevitch, Alidzhan Ibragimov and Patokh Chodiev.

 

Eurasian Bank PR Service:

+7(727) 2599 599 Ext. 3453

press@eubank.kz

www.eubank.kz

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