The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering the disbursement of KZT 9.3 billion (USD 50 million) to Bank CenterCredit, a commercial bank in Kazakhstan. The proceeds of the five-year senior loan are intended to be on-lent to micro-, small and medium-sized enterprises (MSMEs) in rural Kazakhstan.
EBRD invested EUR 8.5 billion (USD 11.4 billion) in 392 projects in 34 countries during 2013, and it reported total assets of EUR 49 billion (USD 65 billion) at the end of that year. Since 1997 EBRD has operated in Kazakhstan, where it focuses on the development of the private sector. As of March 1, 2015, Bank CenterCredit reported total assets of USD 6.1 billion and capital of USD 493 million. As of December 31, 2014, the organization reported a loan portfolio of KZT 918 billion (USD 4.9 billion) and a deposit portfolio of KZT 428.6 billion (USD 2.3 billion).
By Alíz Crowley, Research Associate
About Bank CenterCredit
Bank CenterCredit is a commercial bank in Kazakhstan. The organization offers a range of corporate and retail banking services. As of March 1, 2015, the organization reported total assets of USD 6.1 billion and capital of USD 493 million. As of December 31, 2014, Bank CenterCredit reported a loan portfolio of KZT 918 billion (USD 4.9 billion) and a deposit portfolio of KZT 428.6 billion (USD 2.3 billion).
About European Bank for Reconstruction and Development (EBRD)
The European Bank for Reconstruction and Development (EBRD) is a multilateral institution headquartered in London, England. The bank began operations in 1991 upon the agreement of 40 countries, and is owned by 64 countries as well as the European Investment Bank and the European Union as of 2014. It aims to finance operations that are both commercially viable and assist development in Eastern Europe, Central Asia and North Africa. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). EBRD invested EUR 8.5 billion (USD 11.4 billion) in 392 projects in 34 countries during 2013, and it reported total assets of EUR 49 billion (USD 65 billion) at the end of that year.
Sources and Additional Resources:
[1] European Bank for Reconstruction and Development (EBRD), Bank CenterCredit MSME II Loan
[2] European Bank for Reconstruction and Development (EBRD), The EBRD in Kazakhstan
[3] Bank CenterCredit, Investors, Financial Results
MicroCapital Universe Profile: Bank CenterCredit
MicroCapital Universe Profile: European Bank for Reconstruction and Development (EBRD)
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