“Today we signed an agreement with IDB to open a credit line amounting to $10 million for 10 years with a 3-year grace period. The interest rate will average 10–12% per annum in currency”, said the Chairman of Nurbank, Marat Zairov, at a press conference in the press center of the Interfax-Kazakhstan agency” on Tuesday.
According to him, these funds will be directed to agricultural processing projects. Within this line, IDB provides direct financing for the purchase of equipment and other capital assets under import and local contracts in the Republic of Kazakhstan.
Nurbank continues active cooperation with the Islamic Development Bank and its subsidiaries:
In April 2009, an agreement was signed to provide a credit line for trade financing from the international Islamic Trade-Finance Corporation (ITFC)” amounting to $5 million for 1 year.
In June 2009, Nurbank signed an agreement on cooperation in export credit insurance and investment deals with the Islamic Corporation for the Insurance of Investments and Export Credits (ICIEC).
Nurbank is the core of the Nurgroup financial group. To date, Nurgroup includes JSC “Nurbank”, JSC “NPF “Atameken”, JSC “SC “Nurpolis”, JSC “Money Experts”, JSC “OUOTPA “Nur-Trust”, LLP “Leasing Company “Nur-Leasing”.
As of September 1, 2009, according to unaudited consolidated financial statements, Nurgroup's assets amounted to 305 246 million tenge, with a net profit of 1 767 million tenge.