Corporate events

On the election of members of the Management Board, on salary adjustment of the Chairman and members of the Management Board, on the determination of the term of office of the Management Board of the Development Bank of Kazakhstan JSC

1) To determine the quantitative composition of the Management Board of Development Bank of Kazakhstan JSC - 5 (five) units, including:

  1. Chairman of the Board-1 (one) unit;
  2. Deputy Chairman of the Board – 3 (three) units;
  3. Managing Director - Member of the Management Board-1 (one) unit;

2) To determine the term of office of the Management Board of the Development Bank of Kazakhstan JSC - 5 (five) years, from August 26, 2019 to August 25, 2024.

3) From August 26, 2019, to elect the following persons as members of the Management Board of the Development Bank of Kazakhstan JSC, in accordance with Annex No. 1 to this Minutes.

4) To determine the size of official salaries, in accordance with Annex No. 2 to this Minutes.

5) To instruct the Chairman of the Board of Directors and the Chairman of the Management Board of Development Bank of Kazakhstan JSC to take the necessary measures arising from this decision.


On increasing the liabilities of Development Bank of Kazakhstan JSC by an amount of ten or more percent of its own capital, issuing a fifth bond program in the amount of 100 (one hundred) billion tenge, the first issue of bonds in the amount of 30 ( thirty) billion tenge within the fifth bond program, and determining the terms of their issue

1. To increase the liabilities of Development Bank of Kazakhstan JSC (hereinafter referred to as the Bank) by an amount of ten and more percent of the size of the Bank's equity through the issuance of fifth bonds program with a total volume of 100 000 000 000 (one hundred billion) tenge, and be it further the first issue of bonds in the amount of 30 000 000 000 (thirty billions) tenge and the second issue of bonds in the amount of 70 000 000 000 (seventy billion) tenge within the limits of the fifth bonds program.

2. To approve the issue of the fifth bond program with a total volume of 100 000 000 000 (one hundred billion) tenge, as well as:  

1) to approve the first issue of bonds in the amount of 30 000 000 000 (thirty billion) tenge within the fifth bond program, and determine the terms of their issue according to Annex No.11 to this Minutes;

2) to approve the second issue of bonds in the amount of 70 000 000 000 (seventy billion) tenge within the fifth bond program, and determine the terms of their issue in accordance with Annex No.12 to this Minutes;

3. The Board of Development Bank of Kazakhstan JSC to take the necessary measures arising from this decision.

Decision of the Board of Directors dated April 26, 2019

On increasing the liabilities of Development Bank of Kazakhstan JSC by an amount of ten or more percent of its own capital, issuing a fifth bond program in the amount of 100 (one hundred) billion tenge, the first issue of bonds in the amount of 30 ( thirty) billion tenge within the fifth bond program, and determining the terms of their issue

On the placement (sale), including the number of shares to be placed (sold) within the number of authorized shares, the method and price of their placement (sale)

1. In accordance with legislation of the Republic of Kazakhstan to place common stock of Development Bank of Kazakhstan JSC in the amount of 300 (three hundred) pieces within the limits of authorized shares at a price of 40 000 000 (forty million) tenge per one piece of common stock for a total amount of 12 000 000 000 (twelve billion) tenge through the implementation of the pre-emptive right to purchase shares by the Sole Shareholder of Development Bank of Kazakhstan JSC.

2. In accordance with the legislation of the Republic of Kazakhstan, to send a proposal to the Sole shareholder of Development Bank of Kazakhstan JSC on the implementation of the right of pre-emptive purchase of shares in the amount of 300 (three hundred) pieces at a price of 40 000 (forty million) tenge per one piece of common stock for a total amount of 12 000 000 (twelve billion) tenge.

3. Paragraphs 1 and 2 of this decision shall enter into force from the date of entry into force of the Law of the Republic of Kazakhstan On amendments and additions to the Law of the Republic of Kazakhstan On the Republican budget for 2019-2021.

4. The Board of Development Bank of Kazakhstan JSC to take the necessary measures arising from this decision.

On the election of a member of the Board of the Development Bank of Kazakhstan JSC

1. To elect Kenzhebayeva Sandugash Aibassovna as Deputy Chairman of the Board of Development Bank of Kazakhstan JSC since April 10, 2019, for the term of office of the Board of Development Bank of Kazakhstan JSC.

2. To establish the official salary for S.A. Kenzhebayeva in accordance with Annex No. 1 to this minutes.

3. Chairman of the Board of Development Bank of Kazakhstan JSC B.B. Zhamishev is to take the necessary measures arising from this decision in accordance with the labor legislation of the Republic of Kazakhstan. 

On early termination of powers of a member of the Bank's Management Board V. Kim

1. To remove the Deputy Chairman of the Board of Development Bank of Kazakhstan JSC Kim Vadim Viktorovich on March 29, 2019 by agreement of the parties.

2. Chairman of the Board of Development Bank of Kazakhstan JSC B.B. Zhamishev to take the necessary measures arising from this decision in accordance with the labour legislation of the Republic of Kazakhstan.

1. In accordance with the procedure established by the legislation of the Republic of Kazakhstan, place ordinary shares of Development Bank of Kazakhstan JSC in the amount of 375 (three hundred seventy-five) shares within the authorized shares at a price of 40,000,000 (forty million) tenge per ordinary share for a total of 15,000,000,000 fifteen billion) tenge through the implementation of the Sole Shareholder of the Development Bank of Kazakhstan JSC of the right of preferential purchase of shares.

2. In accordance with the procedure established by the legislation of the Republic of Kazakhstan, send to the Sole Shareholder of “Development Bank of Kazakhstan” JSC a proposal to exercise the right of preferential purchase of shares in the amount of 375 (three hundred seventy-five) pieces at a price of 40,000,000 (forty million) tenge per ordinary share for a total of 15,000 000 000 (fifteen billion) tenge.

3. The Board of «Development Bank of Kazakhstan» JSC to take the necessary measures arising from this decision.

From January 1, 2019, the registrar who maintains the register of securities holders of the Bank is «Central Securities Depository» JSC dated January 4, 2019.

On the placement (sale), including the number of shares to be placed (sold) within the limits of the number of declared shares, the method and price of their placement (sale)

  • In accordance with the procedure established by the legislation of the Republic of Kazakhstan, place ordinary shares of Development Bank of Kazakhstan JSC in the amount of 250 (two hundred fifty) units within the authorized shares at a price of 40 000 000 (forty million) KZT per ordinary share for a total of 10 000 000 000 (ten billion) KZT through the implementation of the Sole Shareholder of Development Bank of Kazakhstan JSC of the right of preferential purchase of shares.
  • In the procedure established by the legislation of the Republic of Kazakhstan, send to the Sole Shareholder of Development Bank of Kazakhstan JSC a proposal to exercise the right of preferential purchase of shares in the amount of 250 (two hundred fifty) pieces at a price of 40 000 000 (forty million) KZT per ordinary share for a total of 10 000 000 000 (ten billion) KZT.
  • To the Management Board of Development Bank of Kazakhstan JSC to take the necessary measures arising from this decision.

On conclusion of a transaction with DBK-Leasing JSC, of which Development Bank of Kazakhstan JSC has an interest, transactions with a person associated with Development Bank of Kazakhstan JSC by special relations and approval of the main terms of financing of a subsidiary

Conclude a transaction with DBK-Leasing JSC, in which Development Bank of Kazakhstan JSC has an interest, a deal with a person associated with Development Bank of Kazakhstan JSC special relations and approve the following basic conditions for financing a subsidiary:

  • Borrower DBK-Leasing JSC Loan amount 20 000 000 000 (twenty billion)
  • Currency KZT
  • Loan term up to 15 (fifteen) years
  • Fixed interest rate, 8.48% (eight point forty eight percent) per annum * * average cost of borrowing 8,4% + general administrative expenses of Development Bank of Kazakhstan JSC are 0.08%.

On conclusion of a transaction with DBK-Leasing JSC, of which Development Bank of Kazakhstan JSC has an interest, transactions with a person associated with Development Bank of Kazakhstan JSC by special relations and approval of the main terms of financing of a subsidiary

Conclude a transaction with DBK-Leasing JSC, in which Development Bank of Kazakhstan JSC has an interest, a deal with a person associated with Development Bank of Kazakhstan JSC special relations and approve the following basic conditions for financing a subsidiary:

  • Borrower: DBK-Leasing JSC
  • Loan amount: 12 537 182 000 (twelve billion five hundred thirty seven million one hundred eighty two thousand)
  • Currency: KZT
  • Loan term: Up to 20 (twenty ) years.
  • Remuneration rate: fixed, 0.1% (zero point one tenth of the percent) per annum

Concerning the conclusion of transactions in which Development Bank of Kazakhstan JSC is interested, in the framework of the export operation of Aluminum Kazakhstan JSC “Financing costs for the purchase of raw materials and materials, their subsequent processing for the manufacture of alumina with subsequent sale under sales contracts”

To conclude transactions in which Development Bank of Kazakhstan JSC is interested in the implementation of the export operation of Aluminum Kazakhstan JSC “Financing the costs of purchasing raw materials and materials, their subsequent processing to produce alumina with subsequent sale under sales contracts”:

  • addendum to the Agreement on the opening of the credit line No. 108-СМ-S/05 dated 29.12.2015, concluded between the Bank and Aluminum of Kazakhstan JSC;
  • Bank loan agreement concluded between the Bank and Aluminum of Kazakhstan JSC under the Agreement on Opening a Credit Line No. 108-СМ-S/05 dated 29.12.2015;
  • supplementary agreement to the Guarantee Agreement No. 368-ДГ-S / 05 dated 30.12. 2015 concluded between the Bank, Aluminum of Kazakhstan JSC and Eurasian Resources Group Sarl;
  • an agreement on an external legal assessment concluded between the Bank, Aluminum of Kazakhstan JSC and an external legal advisor.

On appointment of the Ombudsman of Development Bank of Kazakhstan JSC

Appoint Anvar Gallimullayevich Saidenov, Member of the Board of Directors, Independent Director of Development Bank of Kazakhstan JSC, Ombudsman of Development Bank of Kazakhstan JSC with a period of 2 years.

On the conclusion of transactions in which there is interest, transactions with a person related to the Development Bank of Kazakhstan JSC by special relations (Tsesnabank JSC)

  1. To enter into transactions with Tsesnabank JSC in which there is an interest in transactions with a person connected with Development Bank of Kazakhstan JSC (hereinafter - the Bank) with special relations: Bank's correspondent account agreement with Tsesnabank JSC, additional agreements to bank loan agreements dated January 30, 2014 №ДБЗ 5-Z/05-04, dated December 10, 2014 No.ДБЗ 146-Z/27, dated December 26, 2014 No. ДБЗИ 177-Z/27, dated March 16, 2015 No. ДБЗИ 38-Z/27, dated June 9, 2015 No. №135-ДБЗ-Z/27, to the agreement on opening a credit line dated November 27, 2014 No. 35-СM-Z/27, termination agreements: bank loan agreement dated January 30, 2014 No.№ДБЗ 5-Z/05-04, agreements on opening a credit line dated November 27, 2014 №35-СМ-Z/27 and agency agreement dated April 23, 2015 No. №20-СП-Z/27.
  2. Provisions of this decision regarding the conclusion of additional agreements to bank loan agreements of December 10, 2014 №ДБЗ 146-Z/27, dated March 16, 2015 №ДБЗИ 38-Z/27, agreement on termination of the agency agreement of April 23, 2015 №20-СП-Z / 27 come into force from the date of introduction of amendments to the Decree of the Government of the Republic of Kazakhstan dated December 5, 2014 No. 1276, dated March 11, 2015 No. 124.

On conclusion of Development Bank of Kazakhstan JSC with Tsesnabank JSC an interested-party transaction and transactions with a person with special relationship with  Development Bank of Kazakhstan JSC

To enter into an interested-party transaction and Development Bank of Kazakhstan JSC a transaction with a person related to the special relations of Development Bank of Kazakhstan JSC by purchasing bonds of Tsesnabank JSC.

Annulment of bonds of the first issue for amount of KZT 30 000 000 000 (thirty billion) within the second bond program of Development Bank of Kazakhstan JSC.

  1. To annul the first issue bonds within the second bonded program of Development Bank of Kazakhstan JSC for the amount of KZT 30 000 000 000 (thirty billion).
  2. The Management Board of Development Bank of Kazakhstan JSC to take the necessary measures arising from the present decision.

On approval of the main terms of financing the investment project "Modernization of the Euro-Asiatic Energy Corporation" joint-stock company of the "Euro-Asiatic Energy Corporation" joint-stock company and on conclusion of transactions in which Development Bank of Kazakhstan JSC has an interest

  1. To approve the main terms of financing the investment project "Modernization of the Euro-Asiatic Energy Corporation joint-stock company" of the Euro-Asiatic Energy Corporation (hereinafter - the Project):
  2. To conclude an agreement with the Eurasian Energy Corporation on the opening of a credit line, bank loan agreements within the framework of an agreement on opening a credit line, as well as other contracts necessary for the implementation of the Project, as transactions in which Development Bank of Kazakhstan JSC

On redemption of bonds of the first issue within the second bonded program of Development Bank of Kazakhstan JSC for the amount of KZT 30 (thirty) billion and the price of their buying-out

  1. To redeem bonds of the first issue (KZP01Y03F261) within the second bonded program of Development Bank of Kazakhstan JSC (hereinafter referred to as bonds) for the amount of KZT 30 (thirty) billion and determine the redemption price in the amount of not more than 104.55 (one hundred and four point fifty-five hundredths) % of the nominal value of bonds on the organized securities market.
  2. The Management Board of the Development Bank of Kazakhstan JSC shall take the necessary measures arising from this decision.

On conclusion of the transaction with DBK-Leasing JSC, in which the Development Bank of Kazakhstan JSC (hereinafter referred to as the Bank) has an interest and a transaction with a person connected with the Bank with special relations in transferring property to real estate.

To enter into a transaction in which Development Bank of Kazakhstan JSC has an interest and a deal with a person associated with Development Bank of Kazakhstan JSC with special relations on the transfer of DBK-Leasing JSC to property placement (lease) of immovable property on the following basic conditions:

  • the lease term - dated June 15, 2018 to December 31, 2018;
  • the rent price of 1 sq. meter (KZT) - KZT 7 000, VAT included;
  • the volume of office premises leased - 1 966 sq. meters;
  • dislocation of office premises for lease - Republic of Kazakhstan, Z05ТЗE2, Astana, Yessil district, Mangilik Yel avenue, building 55A, n.p. 15

Conclusion of the contract of property rental (lease) is carried out in accordance with the terms of the procurement procedures.

Development Bank of Kazakhstan joint-stock company (hereinafter - the Bank) informs that on June 25, 2018, dividends were paid in the amount of KZT 1 428 367 440.83 (one billion four hundred twenty eight million three hundred sixty seven thousand four hundred forty) 83 tiyn to the Bank's sole shareholder - National Holding Company "Baiterek" joint-stock company for 2017 in accordance with the decision of the Bank's Sole Shareholder dated April 4, 2018 (Minutes No. 12/18).   

On approval of the Report on compliance with the principles of the Corporate Governance Code of Development Bank of Kazakhstan JSC as of December 31, 2017

Approve the Report on compliance with the Code of the Corporate Governance Code of Development Bank of Kazakhstan JSC dated December 31, 2017, in accordance with Annex No. 3 to this Minutes

On approval of the amendment to the Provision on the Corporate Secretary and the Corporate Secretariat of Development Bank of Kazakhstan JSC approved by the decision of the Board of Directors of Development Bank of Kazakhstan JSC dated March 30, 2018 (Minutes No. 202-2018-03)
Approve the following amendments to the Provisions on the Corporate Secretary and the Corporate Secretariat of Development Bank of Kazakhstan JSC approved by the decision of the Board of Directors of Development Bank of Kazakhstan JSC No. 202-2018-03 dated March 30, 2018 (hereinafter - the Provision):

  1. in subparagraph 5 of paragraph 15 of chapter 4 of the Provision the words "participate in preparation" shall be replaced by the word "carry out training";
  2. Paragraph 22 of Chapter 4 of the Provisions shall be supplemented with subparagraph 2-1) of the following content:
    2-1) development and submission to the relevant committee of the Board of Directors of the Bank of the recommendations on improving the corporate governance system of the Bank on the basis of studying best practices at least 1 (once) a year;

On the introduction of a change in the organizational structure of Development Bank of Kazakhstan JSC

  1. To amend the organizational structure of Development Bank of Kazakhstan JSC approved by the decision of the Board of Directors of Development Bank of Kazakhstan JSC dated September 29, 2017 (Minutes No. 196-2017-07), in accordance with Annex No. 2 to this Minutes.
  2. Zhamishev BB, Chairman of the Management Board of Development Bank of Kazakhstan" JSC take the necessary measures arising from this decision.

On the conclusion of transactions in which there is interest, transactions with a person associated with "Development Bank of Kazakhstan" JSC special relations ("Tesnabank" JSC)

  1. To conclude additional agreements with Tsesnabank JSC with Banking Loan Agreements dated March 16, 2015 No. ДБЗИ 38-Z/27 and dated December 10, 2014 No. ДБЗ146-Z/27, on introducing amendments that increase the amount of loans, in which there is an interest and transactions with a person associated with Development Bank of Kazakhstan JSC special relationship.
  2. Paragraph 1 of this decision shall enter into force on condition that a positive decision is taken by the State Commission for the Modernization of the Economy of the Republic of Kazakhstan on the issue of redistribution of the funds of the National Fund of the Republic of Kazakhstan among second-tier banks for further financing of subjects of large-scale entrepreneurship in the manufacturing industry.

On itroduction of amendments and additions to the information policy of Development Bank of Kazakhstan JSC, approved by the decision of the Board of Directors of Development Bank of Kazakhstan JSC dated May 28, 2010 (Minutes No. 113)

To make changes and additions to the information policy of Development Bank of Kazakhstan JSC approved by the decision of the Board of Directors of Development Bank of Kazakhstan JSC dated May 28, 2010 (minutes No. 113) according to annex № 11 to this minutes.

On approving the monitoring of the implementation of the development strategy of Development Bank of Kazakhstan JSC for 2014-2023 and the action plan for the implementation of the development strategy of Development Bank of Kazakhstan JSC until 2023 for the period from 2017 to 2019 for 2017

  1. To approve the monitoring of implementation of development strategy of Development Bank of Kazakhstan JSC for 2014-2023 years, approved by the decision of the Board of Directors of JSC Development Bank of Kazakhstan JSC dated July 14, 2014 (Minutes № 156) for 2017, according to Annex No. 5 to the present minutes.
  2. To approve the monitoring of implementation of the action plan for Implementation of development strategy of Development Bank of Kazakhstan JSC to 2023 for the period from 2017 to 2019, approved by the decision of the Board of Directors of Development Bank of Kazakhstan JSC dated September 29, 2017 (minutes № 196-2017-07) for 2017, according to Annex No.6 to the minutes.

On conclusion of a transaction in which Development Bank of Kazakhstan JSC has an interest in transactions with DBK-Leasing JSC, transactions with a person connected with Development Bank of Kazakhstan JSC by special relations and approval of the main terms of financing of a subsidiary

Conclude a transaction with DBK-Leasing JSC, in which the Development Bank of Kazakhstan JSC has an interest, a deal with a person associated with Development Bank of Kazakhstan JSC special relations and approve the following basic conditions for financing a subsidiary: Borrower (name of legal entity) - DBK-Leasing JSC; The amount of the loan is KZT12 500 000 000 of which 10 000 000 000 (ten billion) are budgetary funds, 2 500 000 000 (two billion five hundred million) - own funds of Development Bank of Kazakhstan JSC; Currency - tenge; Loan term - till April 6, 2027; Interest rate - of budget funds - 0.2% (zero point two) per annum on the assets of the Development Bank of Kazakhstan JSC - 10.61% (ten point sixty one hundredth percent) per annum.

On the seventh bond issue for the amount of KZT 43 492 000 000 (forty-three billion four hundred ninety-two million) within the fourth bond program and the terms of its issue and the increase in liabilities of the Development Bank of Kazakhstan JSC by an amount equal to ten or more percent of its amount own capital

  1. To increase the obligations of the Development Bank of Kazakhstan JSC by an amount equal to ten percent or more of its own capital and to approve the seventh bond issue within the fourth bond program in the amount of KZT 43 492 000 000 (forty-three billion four hundred ninety-two million) and determine the terms of the issue, according to the Annex No. 5 to this Minutes.
  2. The Management Board of the Development Bank of Kazakhstan JSC shall take the necessary measures arising from this resolution.

On increasing the liabilities of the Development Bank of Kazakhstan JSC by an amount equal to ten percent or more of the equity capital by changing the volume of the Program of the Development Bank of Kazakhstan Development JSC for the issuance of medium-term securities up to USD 3,000,000,000 (three billion) inclusive (the Program) and conclusion of a major transaction

  1. Increase the liabilities of the Development Bank of Kazakhstan JSC by an amount equal to ten percent or more of the equity capital by changing the volume of the Program of the Development Bank of Kazakhstan Development JSC for the issuance of medium-term securities up to USD 3 000 000 000 (three billion) inclusive and conclude a major transaction on the following terms:
    1. The name of the transaction is the Program of the Development Bank of Kazakhstan JSC for the issue of medium-term securities up to USD 3,000,000,000 (three billion) inclusive;
    2. The parties of the transaction – the Development Bank of Kazakhstan JSC , potential investors and other persons in accordance with the terms of issuance of securities within the limits of the Program;
    3. Terms and conditions of the transaction - in accordance with the terms of the prospectuses of securities issues within the Program;
    4. The nature and extent of participation of the persons involved - in accordance with the terms of the prospectuses of securities issues within the Program.
  2. The Management Board of the Development Bank of Kazakhstan JSC shall take the necessary measures arising from this resolution.

On election of the Chairman of the Board of Directors of the Development Bank of Kazakhstan JSC

Elect Arifkhanov Aidar Abdrazakhovich as Chairman of the Board of Directors of the Development Bank of Kazakhstan JSC

On conclusion of related-party transactions, transactions with persons related to Development Bank of Kazakhstan JSC (Tsesnabank JSC and Bank CenterCredit JSC)

To conclude additional agreements with Tsesnabank JSC to the bank loan agreements dated April 28, 2015 No.70-DBZ-A/27 and dated January 12, 2018 No.9-DBZ-A/27 on introducing amendments to the list of domestic cars, as party-related transactions and transactions with persons related to Development Bank of Kazakhstan JSC with special relationships.

On conclusion of related-party transactions, transactions with persons related to Development Bank of Kazakhstan JSC (Tsesnabank JSC and Bank CenterCredit JSC)

To conclude additional agreements with Tsesnabank JSC to the agreement on opening a credit line dated November 27, 2014 No.35-CM-Z/27, bank loan agreements dated January 30, 2014 No.DBZ 5-Z/05-04, dated December 10, 2014 No.DBZ 146-Z/27, dated March 16, 2015 No.DBZI 38-Z/27 and with Bank CenterCredit JSC to bank loan agreements dated December 10, 2014 No.157-DBZ-А/27, dated January 30, 2014 No.DBZ 6-Z/05-04, dated March 16, 2015 No.DBZI 35-A/27, which supplement and amend the liabilities of Tsesnabank JSC and Bank CentrCredit JSC, as related-party transactions and transactions with persons related to Development Bank of Kazakhstan JSC with special relationships.

On election of the Chairman of the Board of Directors of Development Bank of Kazakhstan JSC

To elect Arifkhanov Aydar Abdrazakhovich as the Chairman of the Board of Directors of Development Bank of Kazakhstan JSC

On amendments being made to Paragraph 3 of the Resolution of the Board of Directors of Development Bank of Kazakhstan JSC dated June 16, 2017 (Minutes No. 194-2017-05) on the seventh issue of the agenda "On Submission of the Issue for Consideration of the Sole Shareholder of Development Bank of Kazakhstan JSC a subsidiary of Development Bank of Kazakhstan JSC in the form of B.V. (private limited company) in the Netherlands with a view to further establishing a private equity fund in the form of C.V. (limited partnership) in the Netherlands together with Kazyna Capital Management JSC"

To amend paragraph 3 of the Resolution of the Board of Directors of Development Bank of Kazakhstan JSC dated June 16, 2017 (Minutes No. 194-2017-05) (hereinafter - the Resolution of the Board of Directors) on the seventh issue of the agenda "On Submission of the Issue for Consideration of the Sole Shareholder of Development Bank of Kazakhstan JSC a subsidiary of Development Bank of Kazakhstan JSC in the form of B.V. (private limited company) in the Netherlands with a view to further establishing a private equity fund in the form of C.V. (limited partnership) in the Netherlands together with Kazyna Capital Management JSC":
"The eighth row of the table in paragraph 3 of the Resolution of the Board of Directors shall be amended as follows:
Sectoral mandate (purpose of financing) - Projects of Development Bank of Kazakhstan JSC and DBK-Leasing JSC – a subsidiary of Development Bank of Kazakhstan Joint-Stock Company”

On approval of the financing program of Development Bank of Kazakhstan JSC of domestic car manufacturers at the expense of the republican budget through conditional financing of second-tier banks for lending to individuals - buyers of cars produced in Kazakhstan

  1. To approve the financing program of Development Bank of Kazakhstan JSC of domestic car manufacturers at the expense of the republican budget by means of conditional financing of second-tier banks for lending to individuals - buyers of cars produced in Kazakhstan (hereinafter referred to as the Program), developed within the framework of the Decree of the Government of the Republic of Kazakhstan No. 792 dated November 29, 2017 "On approval of the basic conditions of budgetary crediting of Baiterek National Managing Holding Joint-Stock Company to finance domestic automakers through conditional financing of second-tier banks for lending to individuals - buyers of cars produced in Kazakhstan, as well as lease financing of legal entities and individual entrepreneurs who lease vehicles and special purpose vehicles, with the exception of agricultural machinery, manufactured in Kazakhstan", according to Annex No. 2 to the Minutes.
  2. The Board of the Bank shall determine the list of second-tier banks that are borrowers under the Program and the amounts of loans to them.

Eurobonds of the Bank (ISIN - XS1734574137) were listed on the London Stock Exchange. 

NOTICE OF ADMISSION TO TRADING ON THE LONDON STOCK EXCHANGE.pdf

The securities were included in the official list of the Financial Conduct Authority.

Issue of bonds within the bond program: the 7th bond issue within the EMTN program of Development Bank of Kazakhstan JSC for the issue of medium-term securities in the amount of USD 2 000 000 000.

Full name of the securities to be issued (coupon bonds, ordinary shares, etc.): Coupon bonds of the seventh issue within the Program for the issue of medium-term securities in the amount of USD 2 000 000 000.

Final Drawdown Prospectus.pdf FCA - Daily Admissions List.pdf

On the sixth bond issue for the amount of 30 (thirty) billion KZT within the fourth bond program and determination of the terms of its issue

  1. To approve the sixth bond issue of “Development Bank of Kazakhstan” JSC for the amount of 30 (thirty) billion KZT within the fourth bond program and the terms of issue in accordance with the annex to this Minute.
  2. The Management Board of "Development Bank of Kazakhstan" JSC shall take the necessary measures arising from this decision.

On conclusion of an interested party transaction with "DBK-Leasing" JSC, transactions with a person associated with "Development Bank of Kazakhstan" JSC by special relations, and approval of the main financing terms of "DBK-Leasing" JSC.

  1. to conclude a transaction in which “Development Bank of Kazakhstan” JSC (hereinafter - the Bank) has an interest, a transaction with a person connected with the Bank by special relations, by concluding a bank loan agreement between the Bank and "DBK-Leasing" JSC, the source of which is a budget loan within the framework of the Decree of the Government of the Republic of Kazakhstan on approval of the main terms of budgetary crediting of the joint-stock company "National managing holding “Baiterek” for financing domestic automakers by providing financing of second-tier banks for crediting of individuals - buyers of cars manufactured in Kazakhstan, as well as leasing financing for legal entities and individual entrepreneurs that purchase motor vehicles and special purpose vehicles for leasing, with the exception of agricultural machinery, manufactured in Kazakhstan (hereinafter - the Decree), and approve the main financing terms of a subsidiary:
    Borrower – “BRK-Leasing” JSC
    Loan amount - not more than 2 (two) billion
    Currency - KZT
    Term - up to 20 years
    Interest rate - not more than 0.25% per annum
  2. the main financing terms of "DBK-Leasing” JSC , specified in paragraph 1 of this decision, shall enter into force after the adoption of the Decree.

On exercising by Development Bank of Kazakhstan JSC the pre-emption right for ordinary shares of DBK-Leasing JSC

  1. In accordance with the procedure established by the legislation of the Republic of Kazakhstan, Development Bank of Kazakhstan JSC shall exercise the pre-emption right for ordinary shares of DBK-Leasing JSC on the following terms:
    1. number of purchased ordinary shares – 250 000 (two hundred and fifty thousand) pieces;
    2. price – KZT 100 000 (one hundred thousand) for one ordinary share;
    3. total amount - KZT 25 000 000 000 (twenty five billion).
  2. The Board of Development Bank of Kazakhstan JSC shall take the necessary measures arising from this decision.

On the placement (sale), including the number of placed (sold) shares within the number of the authorized shares, the method and price of their placement (sale)

  1. In accordance with the procedure established by the legislation of the Republic of Kazakhstan, to place ordinary shares of Development Bank of Kazakhstan JSC in the amount of 625 (six hundred and twenty five) pieces within the authorized shares at the price of KZT 40 000 000 (forty million) for one ordinary share for a total of KZT 25 000 000 000 (twenty-five billion) by exercising the pre-emption right by the Sole Shareholder of Development Bank of Kazakhstan JSC.
  2. In accordance with the procedure established by the legislation of the Republic of Kazakhstan, to send to the Sole Shareholder of Development Bank of Kazakhstan JSC a proposal to exercise the pre-emption right in the amount of 625 (six hundred and twenty-five) shares at the price of KZT 40 000 000 (forty million) for one ordinary share for a total of KZT 25 000 000 000 (twenty five billion).
  3. The Board of Development Bank of Kazakhstan JSC shall take the necessary measures arising from this decision.

On conclusion of an interested party transaction, related party transaction with Development Bank of Kazakhstan JSC (Tsesnabank JSC)

To conclude with Tsesnabank JSC (hereinafter - the Borrower) a supplement agreement to the bank loan agreement No.146-DBZ-A/27 dated December 10, 2014, which prolongs the terms of the secondary placement of the loan funds released fr om the previously issued loans, as an interested party transaction and a related party transaction.

On conclusion of an interested party transaction, related party transaction with Development Bank of Kazakhstan JSC (Bank CenterCredit JSC)

To conclude with Bank CenterCredit JSC (hereinafter - the Borrower) a supplement agreement to the bank loan agreement No.70-DBZ-A/27 dated April 28, 2015, which supplements and amends the liabilities of the Borrower, as an interested party transaction and a related party transaction.

On increasing the obligations of Development Bank of Kazakhstan JSC by the amount of ten and more percent of the amount of equity capital, the issue of notes (eurobonds) in tenge for up to KZT 100,000,000,000 as part of the Development Bank of Kazakhstan Program for the issue of medium-term securities worth USD 2,000,000,000 and determining the conditions for their issue

  1. To increase the Bank's liabilities by an amount equal to ten or more percent of the Bank's equity capital;
  2. To approve the issue of Development Bank of Kazakhstan JSC notes ("notes") within as part of the Development Bank of Kazakhstan Program for the issue of medium-term securities in the amount of USD 2,000,000,000 and determine the following conditions for the issue and offering of notes:
    1. the full name of the issuer: Development Bank of Kazakhstan Joint Stock Company;
    2. the name of the state (s) on which territory (or in accordance with the legislation) of which there will be an issue and (or) the offering of the issuer’s equity securities, or the name of the organizer of the trade, wh ere the issue and offering of securities will take place, the names of the regulations and rules , in accordance with which there wiil be conducted the issue and (or) placement of the issuer's equity securities: the issue is carried out in accordance with the laws of England and Wales and Regulation S of the U.S. Securities Act of 1933 in the current version. Presumably, notes will be included in the official list of Kazakhstan Stock Exchange JSC and the United Kingdom of Great Britain and Northern Ireland Listing Commission, and also be accepted for trading on Kazakhstan Stock Exchange JSC, the London Stock Exchange and/or other stock exchange operating on the territory of a foreign state. At the same time, notes will be offered through Kazakhstan Stock Exchange JSC in accordance with the requirements of the legislation of the Republic of Kazakhstan and the rules of Kazakhstan Stock Exchange JSC;
    3. the type of issued and (or) offered issuer's equity securities: coupon notes;
    4. availability and type of collateral or guarantee with the indication of the guarantor: without collateral, without guarantee;
    5. the nominal value or offering price and identification code (if any): par value of one note is 50,000,000 (fifty million) tenge, the identification code is assigned up to the date of notes listing on Kazakhstan Stock Exchange JSC;
    6. the estimated volume and currency of the issue: up to 100 (one hundred) billion tenge, the currency of the issue - tenge;
    7. the coupon remuneration/remuneration rate (the maximum remuneration rate) - up to 10% (ten percent) per annum inclusive;
    8. the number of notes: up to 2,000 (two thousand);
      and) tenors: not more than 5 (five) years;
    9. the rights represented by this issuer's equity security - the rights of notes holders: (i) the right to receive a coupon remuneration, (ii) the right to receive the principal amount at the expiry of the tenor of thenote, (iii) the right to receive information from the issuer on its activities and financial condition and other rights arising from the ownership of the notes in compliance with the rules and requirements of the authorized body regulating the security market in the country of issue and the requirements of the legislation applicable to the documentation for the issue of notes.
    10. the procedure for calculating and paying coupon remuneration on these issuer's equity securities, the frequency of payment: the coupon remuneration on notes is accrued on the basis of a temporary base of 30/360 (thirty days per month, three hundred and sixty days per year) or other basis determined by the documentation for the issue of notes and paid periodically; payment frequency of coupon remuneration on notes: 2 (two) times a year, in accordance with the documentation on the issue of notes;
    11. the procedure for redemption of notes: at the end of the tenor, as well as in accordance with the documentation for the issue of notes.
    12. the estimated offer price: the price will be determined after the collection of all global applications of investors taking into account market conditions on the date of offering. Indicative offer price - at par value or with deviations from the par value in any direction;
    13. the conclusion by the Bank of the accompanying necessary agreements and documents on the transaction, such as: The Mandate Letter, the Amended and Restated Trust Deed, the Amended and Restated Agency Agreement, the Amended Procedures Memorandum, the Amended and Restated Program Agreement, the Subscription Agreement, the Final Terms, as well as other documents and agreements required for the issue and offering of notes.
  3. The Management Board of Development Bank of Kazakhstan JSC shall take the necessary measures arising from this decision.

On amending the decision of the Board of Directors of Development Bank of Kazakhstan JSC on the first issue of the agenda of the meeting "On the approval of the Development Strategy of Development Bank of Kazakhstan JSC for 2014-2023" dated July 14, 2014 (Minutes No. 156), and on approval of the Action Plan for implementation of the Development Strategy of Development Bank of Kazakhstan JSC until 2023 for the period from 2017 to 2019

  1. Introduce the following change in the decision of the Board of Directors of Development Bank of Kazakhstan JSC on the first issue of the agenda of the meeting "On the approval of the Development Strategy of Development Bank of Kazakhstan JSC for 2014-2023" dated July 14, 2014 (Minutes No. 156):
    The Development Strategy of Development Bank of Kazakhstan JSC for 2014-2023, approved by this decision of the Board of Directors of Development Bank of Kazakhstan JSC, shall be amended in accordance with Annex No. 1 to this Minutes.
  2. Approve the Action Plan for the Development Strategy of Development Bank of Kazakhstan JSC until 2023 for the period from 2017 to 2019 as amended by Annex No. 2 to this Minutes.

On approval of the main conditions of financing of the subsidiary, conclusion of the transaction with the DBK-Leasing JSC in which the Development Bank of Kazakhstan JSC has an interest and transaction with a person connected with the Development Bank of Kazakhstan JSC by special relationships

  1. To approve the following main terms of financing subsidiary:
    1. borrower – DBK-Leasing JSC;
    2. amount of credit line – up to 50,000,000,000 (fifty billion);
    3. currency – tenge;
    4. credit line term – up to 15 (fifteen) years from the date of conclusion of agreement on opening of a credit line.
  2. To approve the transaction referred to in paragraph 1 of the present decision as the transaction in which the Bank has an interest and transaction with a person connected with the Bank by special relations.

On the third, fourth and fifth bond issues for the total amount of KZT 26,508,000,000 within the framework of the fourth bond program and determination of the conditions for their issue

To approve the bond issue of the Development Bank of Kazakhstan JSC for the total amount of KZT 26,508,000,000 (twenty-six billion five hundred and eight million) within the framework of the fourth bond program and determine the conditions for their issue, as follows:

  1. to approve the third bond issue in the amount of KZT 8,836,000,000 (eight billion eight hundred thirty six million) under the fourth bond program and the terms of their issue;
  2. to approve the fourth bond issue in the amount of KZT 8,836,000,000 (eight billion eight hundred and thirty-six million) under the fourth bond program and terms of their issue;
  3. to approve the fifth bond issue of KZT 8,836,000,000 (eight billion eight hundred and thirty six million) under the fourth bond program and terms of their issue.

On amendments in the decision of the Board of Directors of the Development Bank of Kazakhstan JSC of June 16, 2017 (the minutes No. 194-2017-05) on the seventh issue of the agenda "On a preliminary approval and submission for the consideration of the Sole Shareholder of the Development Bank of Kazakhstan JSC of the issue of creation of a subsidiary of the Development Bank of Kazakhstan JSC in the form of B.V. (private limited company) in the Netherlands with a view to further participation in the Direct Investment Fund in the form of C.V. (limited partnership) in the Netherlands together with the Kazyna Capital Management JSC

To change the decision of the Board of Directors of Development Bank of Kazakhstan JSC of June 16, 2017 (the minutes No. 194-2017-05) on the seventh issue of the agenda "On a preliminary approval and submission for consideration of the Sole Shareholder of the Development Bank of Kazakhstan JSC of the issue of creation of a subsidiary of the Development Bank of Kazakhstan JSC in the form of B.V. (private limited company) in the Netherlands with a view to further participation in the Direct Investment Fund in the form of C.V. (limited partnership) in the Netherlands together with the Kazyna Capital Management JSC and it shall be amended as follows: "

  1. To approve and submit for consideration of the Sole Shareholder of the Development Bank of Kazakhstan Joint Stock Company the issue of participation of the Development Bank of Kazakhstan Joint Stock Company (hereinafter - the Development Bank of Kazakhstan JSC) in the formation of a legal entity in the Netherlands in the organizational and legal form "B.V." (Besloten Vennootschap Met beperkte aansprakelijkheid).
  2. To approve the following terms of participation (formation) of the Development Bank of Kazakhstan Joint Stock Company (hereinafter - the Development Bank of Kazakhstan JSC) in a legal entity in the Netherlands in theorganizational and legal form "B.V." (Besloten Vennootschap met beperkte aansprakelijkheid) under the laws of the Netherlands (hereinafter - the Company):
    1. full name of the Company: DBK Capital Structure Fund B.V., abbreviated name of the Company: DBK CSF BV;
    2. share of the Development Bank of Kazakhstan JSC in the Company is 100%;
    3. purpose of establishing the Company: the Company's participation, together with the Kazyna Capital Management JSC or its subsidiaries, in the Direct Investment Fund created in the form of "CV" (Commanditaire Vennootschap) (limited partnership) - (hereinafter the DIF) - in the currency - tenge equivalent to USD 97,000,000 (ninety seven million) (at the rate of tenge against the US dollar, established on the day of signing the Contract on participation in the limited partnership (DIF);
    4. location of the executive body/implementation of activities of the Company: Amsterdam, the Netherlands;
    5.  types (classes) of shares issued by the Company: common shares with a minimum par value of USD 1 or equivalent in KZT at the rate of the National Bank of the Republic of Kazakhstan (hereinafter - the NB RK) for one common share. The number of common shares to be issued by the Company and payment to the Development Bank of Kazakhstan JSC as of the registration date of the Company is 100 (one hundred) common shares with an actual par value of USD 200 (two hundred) or equivalent in KZT at the rate of the NB RK per share, paid-up capital equity of the Company on the registration date will be USD 20,000 (twenty thousand) or equivalent in KZT at the rate of the NB RK as of the date of the Company's registration in the Dutch Chamber of Commerce.
      6) types of the Company's activities:
      а) participation as a limited partner in the DIF or other companies by contributing funds for the purpose of their subsequent investment in the authorized capitals of companies within the framework of financing of investment projects of the Development Bank of Kazakhstan JSC;
    6. funds management received from the Development Bank of Kazakhstan JSC, in accordance with the Company's Charter;
      в) opening of bank accounts in banks established in the Netherlands and (or) other countries with the purpose of opening deposits in them and (or) making payments and other transactions through them, as well as making deals, acquiring property and performing other actions that are necessary for implementation of the Company's core activities;
    7. term of formation of the authorized capital of the Company: in accordance with the legislation of the Netherlands;
    8. description of the property at the expense of which the authorized capital of the Company is being formed: own resources of the Development Bank of Kazakhstan JSC;
    9. to approve the draft charter of the Company in accordance with Annex No. 10 to this Protocol;
    10. to approve the following bodies of the Company:
      а) supreme body: the Sole Shareholder;
      б) management body/executive body - the Board of Directors.
    11. to appoint the following persons as directors (members) of the Board of Directors of the Company:
      а) the Managing Director of the Development Bank of Kazakhstan JSC Ismagambetov Adil Mukhtarovich;
      б) Amicorp Netherlands B.V.
    12. to determine the financial year of the Company as the equivalent of the calendar year. In this case, the first financial year is determined from the date of registration at the Dutch Chamber of Commerce until December 31, 2018;
    13. the authority to establish and register the Company in the Netherlands, and to fulfill all other necessary measures on behalf of the Development Bank of Kazakhstan JSC, arising from this decision, to entrust to the employees of the Amicorp Netherlands B.V. and/or other persons by issuing an appropriate power of attorney.
  3. To approve the following general terms and conditions for the Company's participation as a limited partner in the DIF created in the form of C.V. (Commanditaire Vennootschap) (an agreement on participation in a limited partnership under the laws of the Netherlands) in the currency - tenge equivalent to USD 97,000,000 (ninety seven million) (at the rate of tenge against the US dollar, formed at the date of signing the Contract on participation in a limited partnership): Full name of the DIF - DBK Equity Fund CV;
    Proposed jurisdiction of the DIF - the Netherlands; or the Astana International Financial Center.
    Amount of the target capitalization of the DIF - Target capitalization of the fund - the amount in tenge equivalent to USD 100,000,000 (one hundred million);
    Partners with limited liability and shares of their participation - There is planned the participation of partners with limited liability:
  • A legal entity created by the Development Bank of Kazakhstan JSC in accordance with paragraph 1 of this Decision - 97% of share;
  • Kazyna Capital Management JSC
  • up to 3% of share (directly or indirectly);
  • General partner - up to 0.01% of share;

Investment period, taking into account possible prolongations - 5 years from the beginning of the DIF (with the possibility of an extension for 1 year);
Duration of the DIF, taking into account possible extensions, is 10 years from the beginning of the DIF activity (with the possibility of extending for no more than 2 years);
Sectoral mandate (purpose of financing) - Projects of the Development Bank of Kazakhstan JSC.

  1. Paragraphs 2 and 3 of this Decision shall enter into force upon the adoption by the Sole Shareholder of the Development Bank of Kazakhstan JSC of the decision on paragraph 1 of this Decision and registration of the Company in accordance with the laws of the Netherlands."
On conclusion of the transaction with the DBK-Leasing JSC in which the Development Bank of Kazakhstan JSC has an interest, the transaction with a person associated with the DBK-Leasing JSC, the transaction with a person that has special relationships with the Development Bank of Kazakhstan JSC and on approval of the general terms and conditions of financing of the subsidiary To consummate the transaction with the DBK-Leasing JSC, in which the Development Bank of Kazakhstan JSC has an interest, the transaction with a person that has special relationships with the Development Bank of Kazakhstan JSC and to approve the following general terms and conditions of financing of the subsidiary: Borrower (name of legal entity) - DBK-Leasing JSC Loan amount - 4,375,000,000 (four billion three hundred seventy five million) Currency – tenge (KZT) Maturity - until March 28, 2027 Remuneration rate - 10.51% (ten point fifty one hundredth percent) per annum
The Development Bank of Kazakhstan JSC (hereinafter the Bank) informs that on July 10, 2017 dividends were paid in the amount of KZT 1,995,162,722.23 (one billion nine hundred ninety five million one hundred sixty two thousand seven hundred twenty two) 23 tiyn to the Sole Shareholder of the Bank of National Managing Holding Baiterek JSC for 2016 in accordance with the decision of the Sole Shareholder of the Bank of April 26, 2017 (the minutes No. 19/17).

On approval of the conclusion of Development Bank of Kazakhstan JSC transaction with Tsesnabank JSC, in which there is an interest and a transaction with a person associated with Development Bank of Kazakhstan JSC by special relations

Approve the conclusion of Development Bank of Kazakhstan JSC transaction in which there is an interest and a transaction with a person associated with Development Bank of Kazakhstan JSC by special relations on the following conditions:

  1. counterparty (transaction party) - Tsesnabank JSC;
  2. name of transaction - deposit
  3. amount and currency of transaction - up to KZT 30 (thirty) billion (inclusive);
  4. maturity – up to 6 (six) months;
  5. rate of remuneration on a deposit – 10,5 (ten point five) % per annum;
  6. permanent balance – 250 (two hundred and fifty) million tenge, with the possibility of partial withdrawal and/or replenishment of the deposit;
  7. conditions for payment of accrued remuneration - monthly;
  8. withdrawal of up to KZT 29,750,000,000 at any time without loss of remuneration;
  9. other conditions - in accordance with conditions of the General Agreement No.GA 004/02 on general conditions for conducting transactions on the financial market dated March 15, 2002, concluded between Development Bank of Kazakhstan JSC and Tsesnabank JSC (in compliance with the Supplementary Agreement No. 01 dated June 30, 2006).

On concluding a deal in which "Development Bank of Kazakhstan" JSC is interested, and a deal with a party which has special relations with "Development Bank of Kazakhstan" JSC, and on approval of main terms of funding of a subsidiary organization.

  1. Make a change to the decision of the Board of Directors of "Development Bank of Kazakhstan" JSC dated December 21, 2016 (protocol No. 189-2016-13) on the third question of the agenda "On concluding a deal in which "Development Bank of Kazakhstan" JSC is interested, a deal with a party which has special relations with "Development Bank of Kazakhstan" JSC, and on approval of main terms of funding of a subsidiary organization by issuing a bank guarantee" with regards to the following main term of funding of a subsidiary organization":
    Name of terms - Amount of guarantee
    Current revision - 2,268,000,000 (two billion two hundred and sixty eight million) New revision - full joint obligations within the range of the principle in the amount of 2,268,000,000 (two billion two hundred and sixty eight million) Russian rubles and accrued interest as part of the Line of Credit Agreement No. 1-K15/391-103 dated December 15, 2016.
  2. Make a deal with "DBK-Leasing" JSC in which "Development Bank of Kazakhstan" JSC is interested, and a deal with a party which has special relations with "Development Bank of Kazakhstan" JSC by making a Supplementary Agreement to the Contract on Provision of a Bank Guarantee dated 28.12.2016 No. 262-ДГ-Z/27

On increase in liabilities of the “Development Bank of Kazakhstan” JSC by the amount of ten or more percent of its equity capital by attracting related borrowing in the amount of 832 million US dollars, including the loan of the State Development Bank of China in the amount of up to 607 million US dollars and a syndicated loan of up to 225 million US dollars, insured by Sinosure, with the aim of financing of the investment project of PetroKazakhstan Oil Products LLP "Modernization and Reconstruction of the Shymkent Refinery"

  1. To increase the liabilities of the “Development Bank of Kazakhstan” JSC by an amount of ten percent and more of the equity capital of the “Development Bank of Kazakhstan” JSC, by attracting of a loan from the State Development Bank of China in the amount of 607 (six hundred and seven) million US dollars, with the loan term of up to thirteen (13) years, with the aim of financing of the investment project of PetroKazakhstan Oil Products LLP "Modernization and Reconstruction of the Shymkent Refinery";
  2. To increase the liabilities of the “Development Bank of Kazakhstan” JSC by an amount of ten percent and more of the equity capital of the “Development Bank of Kazakhstan” JSC, by attracting of a syndicated loan from Sumitomo Mitsui Banking Corporation Europe Limited, the Bank of Tokyo-Mitsubishi UFJ Ltd., Deutsche Bank AG, Crédit Agricole Corporate and “Investment Bank”, insured by the China Export and Credit Insurance Corporation (Sinosure) in the amount of up to 225 (two hundred and twenty-five) million US dollars, with the term of up to thirteen (13) years, with the aim of financing of the investment project of PetroKazakhstan Oil Products LLP "Modernization and Reconstruction of the Shymkent Refinery".

On increase in liabilities of the “Development Bank of Kazakhstan” JSC by an amount of ten and more percent of its equity capital within its credit line from the European Investment Bank in the amount of 120 mln. euro

To increase the Bank's liabilities by the amount of ten and more percent of the amount of its equity capital by obtaining a credit line from the European Investment Bank in the amount of 120,000,000 (one hundred and twenty million euros) (or its equivalent in US dollars), with the loan term of up to 15 years.

On increase in liabilities of the “Development Bank of Kazakhstan” JSC by an amount of ten and more percent of its equity capital, the release of the fourth bond program in the amount of 150 (one hundred and fifty) billion tenge (KZT), the first and second bond issues in the amount of 30 (thirty) billion tenge (KZT) and twenty (20) billion tenge (KZT) within the fourth bond program, and the stipulation of their conditions of release

  1. Make a transaction with “DBK-Leasing” JSC, in which the “Development Bank of Kazakhstan” JSC is an interested party, transaction with the person connected with Bank 1 JSC. Increase the obligations of “Development Bank of Kazakhstan” JSC by an amount of ten percent or more of the equity capital of “Development Bank of Kazakhstan” JSC.
  2. To approve the issue of “Development Bank of Kazakhstan” JSC fourth bond program totaling 150 (one hundred fifty) billion tenge, as well as:
    1. To approve the first issue of bonds in the amount of 30 (thirty) billion tenge within the fourth bond program and to determine the conditions of their release
    2. to approve the second issue of bonds in the amount of 20 (twenty) billion tenge within the fourth bond program and to determine the conditions of their release.

On conclusion of transactions with “DBK-Leasing” JSC in which the “Development Bank of Kazakhstan” JSC is an interested party, transactions with the person that has special relationships with “Development Bank of Kazakhstan” JSC, and on the approval of the general terms and conditions of financing of the subsidiary

  1. To consummate a transaction with “DBK-Leasing” JSC, in which the “Development Bank of Kazakhstan” JSC is an interested party, a transaction with the person that has special relationships with the “Development Bank of Kazakhstan” JSC, and to approve the following general terms and conditions of financing of the subsidiary:
    Borrower (name of legal entity) – “DBK-Leasing” JSC
    Amount: 17,500,000,000 (seventeen billion five hundred million)
    Currency: tenge (KZT)
    Term: till March 28, 2027
    Interest rate: 0.2 % (naught point two percent) per annum
  2. To consummate a transaction with DBK-Leasing JSC, in which the Development Bank of Kazakhstan JSC is an interested party, a transaction with the person that has special relationships with the Development Bank of Kazakhstan JSC, and to approve the following general terms and conditions of financing of the subsidiary:
    Borrower (name of legal entity) - DBK-Leasing JSC
    Amount: 18,600,000,000 (eighteen billion six hundred million)
    Currency: tenge (KZT)
    Term: till April 12, 2037
    Interest rate: 0.1% (nought point one percent) per annum

Оn election of D.B. Aubakirov, member of the Board, as the Deputy Chairman of the Board of JSC “Development Bank of Kazakhstan”

Resolved:
Elect Duman Bauyrzhanuly Aubakirov, member of the Board of the JSC “Development Bank of Kazakhstan” (further as the “Bank”), as the Deputy Chairman of the Board. The said person shall enter the office on the day the Board of the Directors of the Bank make resolution and for the term established by the Board of the Bank.

Оn increase of number of authorized shares of JSC “BRK-Leasing”

Resolved:
Increase number of authorized shares of joint stock company “BRL-Leasing”, the subsidiary organization of the joint stock company “Development Bank of Kazakhstan” for 600000 (six thousand) of ordinary shares.

Оn increase of liabilities of the JSC “Development Bank of Kazakhstan” for ten or more percent of its own proprietary capital of the Bank via signing a deal with JSC “NMH “Baiterek” for total amount of 80 billion KZT.

Resolved:

Increase liabilities of the JSC “Development Bank of Kazakhstan” for ten or more percent of its own proprietary capital of the Bank via signing a deal with JSC “NMH “Baiterek” for total amount of 80 000 000 000 (eighty billion) KZT for the term of 20 (twenty) years.

On termination of powers of members of the Board of Directors of JSC “BRK-Leasing”, A.S. Sarkulova, A.O. Shakenova and election of D.B. Aubakirov, N.E. Alimukhambetov by the members of the Board of Directors of JSC “BRK-Leasing”

Resolved:

  1. Terminate powers of Abai Serikovich Sarkulov early who is the Sole Holder of JSC “BRK-Leasing” and a member of the Board of Directors at JSC “BRK-Leasing”.
  2. Elect Duman Bauyrzhanuly Aubakirov, member of the Board of Directors of JSC “BRK-Leasing” as the Sole holder of JSC “BRK-Leasing”.
  3. Terminate powers of Anel Orazalievna Shakenova early who is independent member of the Board of Directors of JSC “BRK-Leasing” after the Board of Directors of JSC “BRK-Leasing” receive corresponding notification.
  4. Elect Nurzhan Erzhanovich Alimukhambetov, member of the Board of Directors of JSC “BRK-Leasing” as independent director of JSC “BRK-Leasing”.
  5. The term of office for the said elected members of the Board of Directors of JSC “BRK-Leasing” shall be the one established generally for Directors of the JSC “BRK-Leasing” в целом.

Letter of JSC “Development Bank of Kazakhstan” about approval of cancelling the Program of the JSC “Development Bank of Kazakhstan” on issuance of midterm Islamic securities, the corporate event as of 23/02/2017 

Letter of JSC “Development Bank of Kazakhstan” about approval of cancelling the Program of the JSC “Development Bank of Kazakhstan” (the corporate event as of 23/02/2017) on issuance of midterm Islamic securities, 2013

On changes in composition of the Development Bank of Kazakhstan JSC Management Board.

Development bank of Kazakhstan Joint Stock Company (hereinafter – the Bank) hereby informs that according to the Board of Directors Decision of February 23, 2017 (protocol No. 191-2017-02), the powers of Abai Serikovich Sarkulov, member of the Bank Management Board, Deputy Chairman of the Management Board are early terminated from February 24, 2017. With the same decision, Duman Bauyrzhanuly Aubakirov was appointed a member of the Bank Management Board from February 24, 2017 till the validity of the Bank Management Board powers.

Taking the changes into account, the Bank Management Board consists of: Bolat Bidakhmetovich Zhamishev, Chairman of the Board; Vadim Viktorovich Kim, Deputy Chairman of the Board; Dmitry Yuryevuch Babishev, Deputy Chairman of the Board; Askar Saparovich Amirtayev, Managing Director, Member of the Board; Duman Bauyrzhanuly Aubakirov – Managing Director, Member of the Board.

To introduce amendments to compositions of the Committees of the Board of Directors of “Development Bank of Kazakhstan” JSC with term of powers is equal to the term of powers of the Board of Directors of “Development Bank of Kazakhstan” JSC in whole and read as follows:

  1. Audit Committee of the Board of Directors of “Development Bank of Kazakhstan” JSC:
    M. Favale –Committee Chairperson;
    Zh. Zh. Alimanov – Committee member;
    A. Somma – Committee member;
    A.A. Arifkhanov – Committee member.
  2. Strategic Planning Committee of the Board of Directors of “Development Bank of Kazakhstan” JSC:
    M. Favale – Committee Chairperson;
    Zh. Zh. Alimanov – Committee member;
    A. Somma – Committee member;
    G.B. Tajiyakov – Committee member;
    A.M. Dzhamalbekov – Committee expert.
  3. Risk Management Committee of the Board of Directors of “Development Bank of Kazakhstan” JSC:
    A. Somma – Committee Chairman;
    Zh. Zh. Alimanov – Committee member;
    M. Favale – Committee member;
    G.B. Tajiyakov – Committee member;
    D.S. Kenbayev – Committee expert.
  4. Committee on Staff, Remuneration and Social Issues of “Development Bank of Kazakhstan” JSC:
    Zh. Zh. Alimanov – Committee Chairman;
    M. Favale – Committee member;
    A. Somma – Committee member;
    A.A. Arifkhanov – Committee member

On introduction of change to decision by the Board of Directors of "Development Bank of Kazakhstan" JSC dated June 30, 2016 (Minutes No. 183-2016-07) on the eighteenth item of Agenda "On approval of the terms of the use of attracted funds between the second-tier banks" within the framework of financing of current capital of the large, medium and small enterprises"

To introduce the following change to Item 1 of the Decision by the Board of Directors of "Development Bank of Kazakhstan" JSC dated June 30, 2016 (Minutes No. 183-2016-07) on the eighteenth item of Agenda "On approval of the terms of the use of attracted funds by the second-tier banks: 
- in Subitem 4) of Item 1 the words and figures "up to January 1, 2017" shall be replaced by the words and figures "up to April 1, 2017"

On conclusion of transaction with "DBK-Leasing" JSC in which "Development Bank of Kazakhstan" JSC has an interest, transaction with a person connected with the "Development Bank of Kazakhstan" JSC by special relations and on approval of basic terms of financing of the subsidiary of the Bank by issuing a bank guarantee

To conclude the transaction with "DBK-Leasing" JSC, in which "Development Bank of Kazakhstan" JSC is interested, transaction with a person connected with the "Development Bank of Kazakhstan" JSC by special relations by issuing the bank guarantee to "Development Bank of Kazakhstan" JSC on the obligations of "DBK-Leasing" JSC to "ROSEXIMBANK" JSC

On introduction of changes to decision by the Board of Directors of "Development Bank of Kazakhstan" JSC within the framework of support of the domestic automakers dated September 18, 2015 (Minutes No. 173-2015-10) on the ninth issue of Agenda "On approval of the terms of granting of the credit instrument to the second-tier banks" and annulment of Item 1 of the Decision by the Board of Directors of "Development Bank of Kazakhstan" JSC dated April 17, 2015 (Minutes No. 168-2015-05) on the second issue of Agenda "On approval of the terms of provision of credit instrument to the second-tier banks and "DBK-Leasing" JSC, the subsidiary of "Development Bank of Kazakhstan" Joint Stock Company and conclusion of the transaction, in which there is interest and transaction with a person connected with the Bank by special relations"

  1. to introduce the following changes to Annex No. 4 to the decision by the Board of Directors of "Development Bank of Kazakhstan" JSC dated September 18, 2015 (Minutes No. 173-2015-10) on the ninth issue of the Agenda "On approval of the terms of granting of credit instrument to second-tier banks": 
    items 8), 10) and 11) of Annex No. 4 shall be amended as follows: 
    «8) the cost of 1 unit of passenger cars shall be not exceed KZT 15,000,000; »;
    «10) the term of crediting of the final borrower shall be not more than 7 years; »;
    «11) crediting currency shall be KZT».
  2. Item 1 of the Decision by the Board of Directors of "Development Bank of Kazakhstan" JSC dated April 17, 2015 (Minutes No. 168-2015-05) shall be recognized as ineffective on the second issue of Agenda "On approval of the terms of granting of credit instrument to the second-tier banks and "DBK-Leasing" JSC, the subsidiary of "Development Bank of Kazakhstan" Joint Stock Company and conclusion of transaction, in which there is interest and transaction with a person connected with the Bank by special relations"

On introduction of changes to the previous decision by the Board of Directors of the Bank dated April 15, 2016 year (Minutes No. 181-2016-05)

To introduce changes to the previous decision by the Board of Directors of the Bank dated April 15, 2016 (Minutes No. 181-2016-05) with regard to the amount, price and repurchasing tranche of Bank's Eurobonds

On Changes on Composition of the Board of “Development Bank of Kazakhstan” JSC

“Development Bank of Kazakhstan” Joint Stock Company (hereinafter referred to as the Bank) located at: 10 Orynbor Street, Kazyna Tower Building, Astana, informs that the Board of Directors of the Bank unanimously decided on March 18, 2016 (Minutes No. 180-2016-04) at the meeting held at: 8 Kunayev Street, Emerald Quarter Building, Block B, Astana, at 4.00 p.m. regarding Issue No.9 of the Agenda “On Election of Board Member of “Development Bank of Kazakhstan” JSC as follows: To elect Dmitry Yuryevich Babichev as Deputy Chairman of the Board – Member of the Board of the Bank staring from March 29, 2016 for a term of powers of the Board of the Bank in whole.

At the same meeting of the Board of Directors of the Bank held on March 18, 2016 (Minutes No. 180-2016-04) at: 8 Kunayev Street, Emerald Quarter Building, Block B, Astana at 4.00 p.m. regarding Issue No.10 of the Agenda “On Early Termination of the Powers of the Member of the Board of “Development Bank of Kazakhstan” JSC” it was unanimously decided: To Terminate the powers of the First Deputy Chairman of the Board – Member of the Board of the Bank Askar Abayevich Dostiyarov anticipatorily starting from March 18, 2016.

On conclusion of transactions in which "Development Bank of Kazakhstan" JSC is interested and transactions with a person connected with the "Development Bank of Kazakhstan" JSC by special relations

The Board of Directors of "Development Bank of Kazakhstan" JSC on November 14, 2016 :

  1. on Issue 1 of Agenda "On conclusion of transactions with "DBK-Leasing" JSC in which "Development Bank of Kazakhstan" JSC is interested and transactions with a person connected with the "Development Bank of Kazakhstan" JSC by special relations, and on provision of financing to the subsidiary by the approval of the basic terms of financing (using the funds of republican budget for KZT 10 bln. and KZT 12.9 bln.) took the following decision unanimously: 
    1. on conclusion of transaction in which "Development Bank of Kazakhstan" JSC is interested and transaction with a person connected with the "Development Bank of Kazakhstan" JSC by special relations and provision of financing to the subsidiary by approval of the following basic terms and conditions of financing:
Name of the legal entity "DBK-Leasing" JSC
Amount 12,861,805,000 (twelve billion eight hundred sixty-one million eight hundred and five thousand)
Currency KZT
Period up to October 27, 2036
Rate of remuneration 0.1% p.a.
  1. on conclusion of transaction in which "Development Bank of Kazakhstan" JSC is interested and transaction with a person connected with the "Development Bank of Kazakhstan" JSC by special relations and provision of financing to the subsidiary by approval of the following basic terms and conditions of financing:
Name of the legal entity "DBK-Leasing" JSC
Amount 10,000,000,000 (ten billion)
Currency KZT
Period up to October 27, 2026
Rate of remuneration 0.2% p.a.
  1. on Issue No. 2 of Agenda "On conclusion of transactions with "DBK-Leasing" JSC in which "Development Bank of Kazakhstan" JSC is interested and transactions with a person connected with the "Development Bank of Kazakhstan" JSC by special relations, and on provision of financing to the subsidiary by approval of the basic terms of financing (using the funds of republican budget on KZT 2.5 bln. and KZT 6.6 bln.) took the following decision unanimously:
    1. on conclusion of transaction in which "Development Bank of Kazakhstan" JSC is interested and transaction with a person connected with the "Development Bank of Kazakhstan" JSC by special relations and provision of financing to the subsidiary by approval of the following basic terms and conditions of financing:
Name of the legal entity "DBK-Leasing" JSC
Amount 2,500,000,000 (two billion five hundred million)
Currency KZT
Period up to October 27, 2026
Rate of remuneration 9.52% p.a.
  1. on conclusion of transaction in which "Development Bank of Kazakhstan" JSC is interested and transaction with a person connected with the "Development Bank of Kazakhstan" JSC by special relations and provision of financing to the subsidiary by approval of the following basic terms and conditions of financing:
Name of the legal entity "DBK-Leasing" JSC
Amount 6,610,000,000 (six billion six hundred and ten million)
Currency KZT
Period 4 years
Rate of remuneration 8.33% p.a.

Venue of the meeting of the Board of Directors: Astana, 8 Orynbor Street, House 10, Building of "Kazyna Tower" 

On the change in the composition of the Internal Audit Service of "Development Bank of Kazakhstan" JSC

"Development Bank of Kazakhstan" JSC (hereinafter referred to as the "Bank"), informs that the Board of Directors took the decision dated September 23, 2016 (Minutes No. 186-2016-10) on appointment of Bakyt Kokanovna Zhussupbekova as the Head of the Internal Audit Service of the Bank from September 26, 2016, Nurlan Assylbekovich Tashenov as the Chief Internal Auditor from October 17, 2016 and Gayni Bauyrzhanovna Satybaldinova as the Internal Auditor from October 17, 2016 onwards. The composition of Internal Audit Service taking into account the changes introduced: Zhussupbekova Bakyt Kokanovna - the Head of Internal Audit Service; Tursunbekova Mayra Romanovna - the Chief Internal Auditor; Tashenov Nurlan Assylbekovich -the Chief Internal Auditor; Satybaldinova Gayni Bauyrzhanovna - the Internal Auditor. 

On the closure of the representative office of "Development Bank of Kazakhstan" JSC in Almaty

On August 19, 2016 (Minutes No. 185-2016-09), the Board of Directors of "Development Bank of Kazakhstan" JSC on August 19, 2016 (Minutes No. 185-2016-09) on Issue 7 of Agenda "On introduction of changes to the organizational structure of "Development Bank of Kazakhstan" JSC, unanimously adopted a decision approving the decision on closure of the representative office of "Development Bank of Kazakhstan" JSC in Almaty starting from October 1, 2016.

On Change in Members of the Internal Audit Service of “Development Bank of Kazakhstan” JSC

“Development Bank of Kazakhstan” Joint Stock Company (hereinafter – “Bank”) informs that by the decision of the Board of Directors of the Bank dated June 30, 2016 (Minutes No.183-2016-07) powers of the internal auditor of the Internal Audit Service of “Development Bank of Kazakhstan” JSC Olzhas Samatovich Yestekov were prematurely terminated.

Composition of the Internal Audit Service as amended – Bakyt Kokanovna Zhusupbekova – Chief Internal Auditor – acting as the Head of the Internal Audit Service; Mayra Romanovna Tursunbekova – Chief Internal Auditor.

On Approval of Terms of Allocation of Raised Funds among the Second-Tier Banks

The Board of Directors of “Development Bank of Kazakhstan” JSC, on June 30, 2016 (Minutes No.183-2016-07), regarding issue No.18 “On approval of terms of allocation of raised funds among the second-tier banks” of the agenda, unanimously made a decision on approval of the basic terms of allocation of funds among the second-tier banks by “Development Bank of Kazakhstan” JSC with a view to finance the floating capital of large, medium, and small business enterprises of the processing industry via the second-tier banks, monitoring of their disbursement and sale.

On Granting of a Loan and Approval of the Basic Terms of Financing of “DBK-Leasing” Joint Stock Company being the Subsidiary of “Development Bank of Kazakhstan” Joint Stock Company, Closing of Deal of Interest, and Deal with Party bound by Special Relationship with “Development Bank of Kazakhstan” JSC.

The Board of Directors of “Development Bank of Kazakhstan” JSC, on June 30, 2016 (Minutes No.183-2016-07), regarding issue 17 “On granting of a loan and approval of the basic terms of financing of “DBK-Leasing” Joint Stock Company the subsidiary of “Development Bank of Kazakhstan” Joint Stock Company, closing of a deal of interest, and a deal with a party bound by special relationship with “Development Bank of Kazakhstan” JSC” of the agenda, unanimously made a decision on approval of granting of a loan to “DBK-Leasing” JSC under the following basic terms of financing:
Loan amount (KZT): seventeen billion five hundred million (17,500,000,000)
Loan term – up to ten (10) years
Rate of return 14.24 per cent

Borrower – “DBK-Leasing” JSC, and on closing of a deal between “Development Bank of Kazakhstan” JSC and “DBK-Leasing” JSC, wherein “Development Bank of Kazakhstan” JSC is interested, and a deal with a party bound by special relationship with “Development Bank of Kazakhstan” JSC.

On Increase of Liabilities of “Development Bank of Kazakhstan” JSC by ten or more per cent of Equity Capital, Issue of the Third Bond Program in the amount of KZT eighty five (85) billion, and Terms of Initial Bonds Issue

The Board of Directors of “Development Bank of Kazakhstan” JSC, on June 30, 2016 (Minutes No.183-2016-07), regarding issue No. 7 “On increase of liabilities of “Development Bank of Kazakhstan” JSC by ten or more per cent of equity capital, issue of the third bond program in the amount of eighty five (85) billion Tenges, and terms of initial bonds issue” of the agenda, unanimously made a decision on increase of the Bank’s liability by ten or more per cent of the Bank’s equity capital by issue of a bond program in the amount of KZT eighty five (85) billion (hereinafter – third bond program), and approval of issue of bonds by the Bank within the third bond program in the amount up to KZT 85 billion and terms of their issue.

On Introduction of Changes to the Terms of Loans Raised from “Baiterek” National Management Holding” JSC (Source of which the funds of the National Fund of the Republic of Kazakhstan are)

1. The Board of Directors of “Development Bank of Kazakhstan” JSC, on June 30, 2016 (Minutes No.183-2016-07), regarding issue No. 6 “On introduction of changes to the terms of loans, raised from “Baiterek” National Management Holding” JSC (source of which the funds of the National Fund of the Republic of Kazakhstan are)” of the agenda, unanimously made a decision on introduction of following changes in the decision by the Board of Directors of “Development Bank of Kazakhstan” JSC dated March 6, 2015 (Minutes No.165-2015-02) regarding the issue of the agenda “On increase of liabilities of “Development Bank of Kazakhstan” JSC by KZT 135,000,000,000 by raising loans from “Baiterek” National Management Holding” (hereinafter – “Decision”): line No. 4 of table No. 2 of the Decision shall be amended as follows:

4. the loan assigned purpose – financing through leasing and/or a loan for domestic car manufacturers, passenger coaches manufacturers, export and pre-export credit granting:

  • KZT thirty billion for support of domestic car manufacturers (in 2015);
  • KZT five billion for support of passenger coach manufacture (in 2015);
  • KZT sixty five billion for support of exporters (KZT fifty billion in 2015, and KZT fifteen billion in 2016);

The Decision will come into effect from the date of adoption of changes to Decree of the President of the Republic of Kazakhstan dated April 6, 2015 No.1030 “On approval of the Governmental Program of Infrastructural Development “Nurly Zhol” for 2015-2019, and expansion of Decree of the President of the Republic of Kazakhstan dated March 19, 2010 No.957 “On approval of the Governmental Programs List” as regards exception of definition of nominal rate of return for the end borrowers on loans, including export and pre-export credit granting – no more than six per cent per annum.

On Introduction of Changes to the Terms of the Facility Agreement between “Development Bank of Kazakhstan” JSC and China Development Bank dated March 27, 2015

The Board of Directors of “Development Bank of Kazakhstan” JSC, on June 30, 2016 (Minutes No.183-2016-07), regarding issue No. 5 “On introduction of alterations into the terms of the facility agreement between “Development Bank of Kazakhstan” JSC and China Development Bank dated March 27, 2015” of the agenda, unanimously made a decision on introduction of the following alterations into the decision of the Board of Directors of “Development Bank of Kazakhstan” JSC dated March 20, 2015 (Minutes No.167-2015-04) regarding issue “On approval of increase of liabilities of “Development Bank of Kazakhstan” JSC by USD 650,000,000 by raising a loan from China Development Bank”:

  • words and figures “Rate 5,7% (fixed)” shall be substituted by words and figures “Rate 6mLIBOR+2.7% (floating)”;
  • words and figures “Term 10 years” shall be substituted by words and figures “Term from 10 to 15 years as from each disbursement”.

On Change in Members of the Board of “Development Bank of Kazakhstan” JSC

“Development Bank of Kazakhstan” Joint Stock Company (hereinafter – “Bank”) informs that by the decision of the Board of Directors of the Bank dated May 20, 2016 (Minutes No.182-2016-06), Vadim Viktorovich Kim was appointed the Deputy Chairman of the Board of the Bank.

Composition of the Board of the Bank as amended - Bolat Bidakhmetovich Zhamishev – Chairman, Abay Serikovich Sarkulov – Deputy Chairman of the Board, Dmitry Yuryevich Babichev - Deputy Chairman of the Board, Vadim Viktorovich Kim - Deputy Chairman of the Board, Askar Saparovich Amirtayev – Managing Director – member of the Board.

On Election of the Chairman of the Board of Directors of “Development Bank of Kazakhstan” JSC

“Development Bank of Kazakhstan” Joint Stock Company (hereinafter – “Bank”) informs that by the decision of the Board of Directors of the Bank dated May 20, 2016 (Minutes No.182-2016-06) Yerbolat Askarbekovich Dosayev was elected as the Chairman of the Board of the Bank.

Composition of the Board of Directors of the Bank as amended - Yerbolat Askarbekovich Dosayev - Chairman of the Board of Directors of the Bank, Bolat Bidakhmetovich Zhamishev – member of the Board of Directors of the Bank, Yersain Yerbulatovich Khamitov – member of the Board of Directors of the Bank, Zhanat Zhalgasbayuly Alimanov - member of the Board of Directors of the Bank (independent director), Marcia Elizabeth Christian Favale - member of the Board of Directors of the Bank (independent director).

On Approval of Consolidated and Nonconsolidated Financial Statements of “Development Bank of Kazakhstan” JSC for the year ended on December 31, 2015, Procedure of Net Income Distribution for expired financial year and dividends amount per one ordinary share, taking information into account about applications of the Shareholder of “Development Bank of Kazakhstan” in relation to activities of “Development Bank of Kazakhstan” JSC and its officials, as well as on the size and composition of remunerations to the members of the Board of Directors and Board of “Development Bank of Kazakhstan” in 2015

“Development Bank of Kazakhstan” Joint Stock Company (hereinafter referred to as the Bank) informs that on April 28, 2016 (Minutes No. 20/16) the Board of “Baiterek” NMH” JSC being the sole shareholder of the Bank took decision:

  1. To approve consolidated and nonconsolidated financial statements of the Company for the year ended on December 31, 2015 in compliance with Annexes No.32 and No. 33 to this Minutes.
  2. To approve the following procedure of distribution of the Company net income, received in view of the results of activity of 2015 at the rate of five billion seven hundred and ten million one hundred and two thousand ninety four Tenges and ninety eight Tiyns (5,703,102,094.98):
    1. One billion seven hundred and ten million nine hundred and thirty thousand six hundred and twenty eight Tenges and forty nine Tiyns shall be assigned for payment of dividends to the Sole Shareholder;
    2. remaining three billion nine hundred and ninety two million one hundred and seventy one thousand four hundred and sixty six Tenges and forty nine Tiyns (3,992,171,466.49) shall be reserved at the Company’s disposal for reduction of accumulated loss of previous years;
    3. to approve the rate of dividend eight hundred and twelve Tenges and fifty nine Tiyns (812.59) per an ordinary share for 2015;
    4.  payment of dividends for 2015 shall be made to the revenue of the Sole Shareholder till July 15, 2016.
  3. To take into consideration the absence of complaints by the Sole Shareholder about the actions of the Company and its officials in 2015.
  4. To take into consideration the amount and structure of remuneration of the members of the Board of Directors and the Board of the Company in 2015 according to Annex No.34 to this Minutes.
On Introduction of Changes to the Prospectus of Second Issue of Bonds of “Development Bank of Kazakhstan” JSC, Approval of Conditions of the Third Issue of Bonds within the framework of the Bond Program of “Development Bank of Kazakhstan” JSC and on Repurchase of Eurobonds of “Development Bank of Kazakhstan” JSC “Development Bank of Kazakhstan” Joint Stock Company (hereinafter referred to as the Bank) located at: 10 Orynbor Street, Kazyna Tower Building, Astana, informs that the Board of Directors of the Bank unanimously decided on April 15, 2016 (Minutes No.181-2016-05) at the meeting held at: 8 Kunayev Street, Emerald Quarter Building, Block B, Astana, at 3.00 p.m. regarding Issue No. 5 of the Agenda “On Introduction of Changes to Conditions of the Second Issue of Bonds and Approval of Conditions of the Third Issue of Bonds within the framework of the Bond Program of “Development Bank of Kazakhstan” JSC as follows: 1. To introduce the following changes and amendments to Decision by the Board of Directors of “Development Bank of Kazakhstan” JSC dated 19.02.2016 (Minutes No.179-2016-03) (hereinafter referred to as the Decision) on Agenda Issue “On Examination of the matter about the Second Issue of Bonds by “Development Bank of Kazakhstan” JSC in the amount of up to KZT 80 bln. (within the Bond Program up to KZT 100 bln.”: a. in paragraph 2 of Conditions of the Second Issue of Bonds within the framework of Bond Program of “Development Bank of Kazakhstan” JSC (Annex No. 4 to Decision) the words and figures “80,000,000 (eighty million) pieces” shall be replaced by words and figures “65,000,000 (sixty five million) pieces”; b. in paragraph 2 of Conditions of the Second Issue of Bonds within the framework of Bond Program of “Development Bank of Kazakhstan” JSC (Annex No. 4 to Decision) the words and figures “KZT 80,000,000,000 (eighty billion)” shall be replaced by words and figures “KZT 65,000,000,000 (sixty five billion)”; c. in paragraph 4.2 of Conditions of the Second Issue of Bonds within the framework of Bond Program of “Development Bank of Kazakhstan” JSC (Annex No. 4 to Decision) the first sub-paragraph shall be amended with words “from nominal value of the bond”; d. in paragraph 5.3 of Conditions of the Second Issue of Bonds within the framework of Bond Program of “Development Bank of Kazakhstan” JSC (Annex No. 4 to Decision) the words and figures “15 (fifteen) years” shall be replaced by words and figures “10 (ten) years”; e. paragraph 12 of) shall be amended by first sub-paragraph as follows: “This Prospectus has no provision on possibility of full or partial early bonds redemption by Issuer.”; f. in paragraph 12 of Conditions of the Second Issue of Bonds within the framework of Bond Program of “Development Bank of Kazakhstan” JSC (Annex No. 4 to Decision) the words “early redemption” shall be replaced by words “repurchase for the purpose of extinguishment”; g. in paragraph 12 of Conditions of the Second Issue of Bonds within the framework of Bond Program of “Development Bank of Kazakhstan” JSC (Annex No. 4 to Decision) the words “at early redemption” shall be replaced by words “at repurchase for the purpose of extinguishment”; h. in paragraph 12 of Conditions of the Second Issue of Bonds within the framework of Bond Program of “Development Bank of Kazakhstan” JSC (Annex No. 4 to Decision) the words “of early redemption” shall be replaced by words “of repurchase for the purpose of extinguishment”. 2. To take decision about the third issue of bonds of “Development Bank of Kazakhstan” in the amount of up to KZT 15 billion within the framework of Bond Program of “Development Bank of Kazakhstan” JSC to the amount of KZT 100 billion and its conditions. On issue No.6 of the Agenda “On Repurchase of Eurobonds of “Development Bank of Kazakhstan” JSC of the 4th and 6th trance to the amount of up to USD 300 mln.” it was unanimously decided to repurchase Eurobonds of “Development Bank of Kazakhstan” JSC of the 4th and 6th trances by way of public repurchase to the amount not exceeding USD 300 mln. at the price of repurchase being not more than 91.0% from nominal value.

On Change in the Composition of Internal Audit Service of “Development Bank of Kazakhstan” JSC

“Development Bank of Kazakhstan” Joint Stock Company (hereinafter referred to as the Bank) located at: 10 Orynbor Street, Kazyna Tower Building, Astana, informs that the Board of Directors of the Bank unanimously decided on April 15, 2016 (Minutes No. 181-2016-05) at the meeting held at: 8 Kunayev Street, Emerald Quarter Building, Block B, Astana, at 3.00 p.m. regarding Issue No. 13 of the Agenda “On Consideration of Personnel Matters of the Internal Audit Service of “Development Bank of Kazakhstan” JSC to appoint Olzhas Samatovich Yestekov to the position of Internal Auditor of the Internal Audit Service of “Development Bank of Kazakhstan” JSC starting from April 25, 2016, with probation period of 3 (three) months.

Composition of the Internal Audit Service as amended: Bakyt Kokanovna Zhussupbekova – Chief Internal Auditor – Acting Head of Internal Audit Service; Mayra Romanovna Tursunbekova – Chief Internal Auditor; Olzhas Samatovich Yestekov – Internal Auditor.

On some Issues of the Board of “Development Bank of Kazakhstan” JSC

“Development Bank of Kazakhstan” Joint Stock Company (hereinafter referred to as the Bank) informs that by the Decision of the Board of Directors of the Bank dated April 15, 2016 (Minutes No.181-2016-05) the quantitative composition of the Board of the Bank was defined in the number of 6 persons; powers of Deputy Chairman of the Board of the Bank Yelena Aleksandrovna Kogay were terminated anticipatory from April 15, 2016. By the same decision of the Chairman of the Board of the Bank Abay Serikovich Sarkulov was appointed for the term of powers of the Board of the Bank starting from April 15, 2016.

Composition of the Board of the Bank as amended: Bolat Bidakhmetovich Zhamishev – Chairman of the Board, Abay Serikovich Sarkulov – Deputy Chairman of the Board, Dmitry Yuryevich Babichev – Deputy Chairman of the Board; Askar Saparovich Amirtayev – Managing Director – Member of the Board.

On increase in obligations of the “Development Bank of Kazakhstan” JSC 

Herewith “Development Bank of Kazakhstan” Joint Stock Company (hereinafter referred to as the "Bank”), located at: Astana, 10 Orynbor St., the “Kazyna Tower” building, reports that the Bank's Board of Directors meeting held on February 19, 2016, (Minutes of the Meeting No. 179-2016-03) at the venue: Astana, 8 Kunayev St. the “Emerald Quarter” building, block B, at 15-00, in regard to issue No. 1 of the agenda "On increase in obligations of “Development Bank of Kazakhstan” JSC by the amount equal to ten per cent or more of the shareholders' equity by issuing the second bonds program for the amount of 100 billion tenge and issue of bonds for the total amount of up to 87.5 billion tenge (under the framework of the second bonds program for the amount of 100 billion tenge)” voted unanimously
- on increase in obligations of “Development Bank of Kazakhstan” JSC by the value, equal to ten and more per cent of the shareholders' equity of the “Development Bank of Kazakhstan” JSC by issuing the bonds program for the amount of 100 billion tenge (hereinafter referred to as the “second bonds program”),

  • on the first issue of bonds by the "Development Bank of Kazakhstan" JSC within the second bonds program amounting to 30 billion tenge,
  • on the second issue of bonds by the "Development Bank of Kazakhstan" JSC within the second bonds program amounting to 17,5 billion tenge,
  • on the third issue of bonds by the "Development Bank of Kazakhstan" JSC within the second bonds program amounting to 40 billion tenge.

and with regard to issue No. 2 of the agenda "On consideration of the second issue of bonds by the "Development Bank of Kazakhstan” JSC amounting to 80 billion tenge (in the framework of the bonds program for the amount of up to 100 billion tenge) unanimously decided on the second issue of bonds by the "Development Bank of Kazakhstan" JSC for the amount of up to 80 billion tenge within the "Development Bank of Kazakhstan” JSC bonds program for the amount of 100 billion tenge.

On early termination of powers of a Member of “Development Bank of Kazakhstan” JSC Board

"Development Bank of Kazakhstan" JSC (hereinafter referred to as the “Bank”) herewith informs that by resolution of the Bank’s Board of Directors dated February 5, 2016, (Minutes of Meeting No. 178-2016-02) powers of Deputy Chairman of the Board – Member of the Management Board of the Bank Mr. Kudyshev Murat Tishbekovich are terminated before due term on February 8, 2016.

Herewith “Development Bank of Kazakhstan” Joint Stock Company (hereinafter referred to as the "Bank”), located at: Astana, 10 Orynbor St., the “Kazyna Tower” building, reports that by the Decision of the Bank's Board of Directors meeting held on January 29, 2016, (Minutes of the Meeting No. 177-2016-01) at the venue: Astana, 8 Kunayev St., the “Emerald quarter” building, Block B, at 17-00, powers are terminated before due term and the employment contract is terminated at the employee’s initiative in respect to the Head of the Internal Audit Department of the Bank Mr. Kantarbaev Askar Shakirovich starting from January 29, 2016.



Development Bank of Kazakhstan Joint-stock company (hereinafter-the Bank), located at the following address: Astana City, Orynbor st. House 10, the building "Kazyna Tower", reports that the decision of the Board of Directors of the Bank dated June 10, 2015 (Minutes № 169-2015-06), held at the address: Astana City, Kunayev st. House 8, building "Emerald Quarter", block B at 17-00, on the issue of № 18 of the agenda "on consideration of personnel issues of Development Bank of Kazakhstan JSC unanimously decided on the early termination of the powers of the deputy chairman of the Board- Sisembayev Rinat Nuriyaminovich, member of the Board of the Development Bank of Kazakhstan JSC on June 12, 2015. By the same decision, Sarkulov Abai Serikhovich unanimously elected managing director – Member of the Board of Development Bank of Kazakhstan JSC from June 15, 2015 for the term of the board of the Bank, approved by the decision of the Board of Directors of the Bank of October 20, 2014 (Minutes № 159).

On approval of the transaction concluded by the Bank with the person connected with the Bank with special relations of the transaction and in the commission of which the Bank has an interest (signing of an additional agreement to the agreement on opening a credit line with DBK-Leasing JSC on early repayment of DBK-Leasing JSC part of the loan).

  • the value of the property being the subject of the transaction is not applicable; - the date of the last valuation of the property being the subject of the transaction is not applicable;
  • the percentage value of the property, which is the subject of the transaction, to the total value of the assets of the joint-stock company- is not applicable;
  • the main essential conditions of the transaction-the conclusion of the transaction on early redemption of the part of the loan as a result of which the loan amount changes;
  • date of conclusion of the transaction-not applicable.
  • Оn the issue of № 13 of the agenda "on the change of the board of the Development Bank of Kazakhstan JSC unanimously decided on the early termination of the powers of the board members of Development Bank of Kazakhstan JSC Aldabergenova Bayan Tynyshtykbaevna, Satayeva Rakhimzhan Kairgeldyevich, Sahipov Daulet Mukhtarovich on October 23, 2015 and on election of members of the board Kudyshev Murat Tishbekovich deputy chairman of the Board of Development Bank of Kazakhstan JSC since November 2, 2015 and Amirtayev Askar Saparovich managing Director – Member of the Board of Development Bank of Kazakhstan JSC since October 26, 2015.
  • on the issue of № 14 of the agenda "On consideration of personnel issues of the internal Audit Service" unanimously decided to appoint Dosayeva Aigul Albekovna for the position of the chief internal auditor of the internal Audit Service Development Bank of Kazakhstan JSC since November 23, 2015, with the establishment of a probation period of 3 months and the appointment of Tursunbekova Maira Romanovna as the chief internal auditor of the Internal audit service of Development Bank of Kazakhstan JSC since November 23, 2015.

Joint-stock company Development Bank of Kazakhstan (hereinafter-the Bank), located at the following address: Astana City, Orynbor st. House 10, the building "Kazyna Tower", reports that the decision of the Board of Directors of the Bank of September 18, 2015 (Minutes № 173-2015-10), held at the address: Astana City, Kunayev st. House 8, building "Emerald Quarter", Block B in 17-00, it was decided to change the conditions of a large deal with Investment fund of Kazakhstan JSC.

  • the value of the property being the subject of the transaction is not applicable;
  • the date of the last valuation of the property being the subject of the transaction is not applicable;
  • the percentage value of the property, which is the subject of the transaction, to the total value of the assets of this joint-stock company-is not applicable;
  • the main essential conditions of the transaction – change of terms and order of payment;
  • the date of conclusion of the transaction is not applicable.

Joint-stock company "Development Bank of Kazakhstan" (hereinafter-the Bank), located at the following address: Astana City, Orynbor st. House 10, the building "Kazyna Tower", reports that the decision of the Board of Directors of the Bank of September 18, 2015 (Minutes № 173-2015-10), held at the address: Astana City, Kunayev st. House 8, building "Emerald Quarter", Block B at 17-00, on the issue of № 8 agenda "On increase of obligations of Development Bank of Kazakhstan JSC and introduction of changes in terms of loans, attracted from National Managing Holding "Baiterek" JSC (source of which are funds of the National Fund of the Republic of Kazakhstan) "unanimously decided to increase the Bank's liabilities for the amount of 15 billion tenge and accordingly make changes to the distribution and target use of the attracted funds in the previously approved conditions according to the decision of the Board of Directors of Development Bank of Kazakhstan JSC dated March 06, 2015 (Minutes № 165-2015-02).
Development Bank of Kazakhstan Joint-stock company (hereinafter-the Bank), located at the following address: Astana City, Orynbor st. House 10, the building "Kazyna Tower", reports that the decision of the Board of Directors of the Bank of September 18, 2015 (Minutes № 173-2015-10), held at the address: Astana City, Kunayev st. House 8, building "Emerald Quarter", Block B at 17-00 o'clock, the decision on approval of conditions of granting of the credit instrument of DBK-Leasing JSC the subsidiary organization of Joint-stock company Development Bank of Kazakhstan in order to support production of domestic vehicles for leasing financing

  • the value of the property being the subject of the transaction-is not applicable; - the date of the last valuation of the property being the subject of the transaction is not applicable; - the percentage value of the property, which is the subject of the transaction, to the total value of the assets of the joint-stock company-is not applicable;
    the main essential conditions of the transaction – not applicable;
  • Date of conclusion of the transaction-not applicable.

Joint-stock company "Development Bank of Kazakhstan" (hereinafter - the bank), located at the following address: Astana City, Orynbor st. House 10, the building "Kazyna Tower", reports that the decision of the Board of Directors of the Bank of September 18, 2015 (Minutes № 173-2015-10), held at the address: Astana City, Kunayev st. House 8, building "Emerald Quarter", Block B at 17-00, on the issue of № 7 of the agenda "on the early termination of the powers of a member of the Board of Development Bank of Kazakhstan JSC unanimously decided on the early termination of the powers of the Deputy Chairman of the Board – Member of the Board of Development Bank of Kazakhstan JSC Dosmukametov Kanat Mukhametkarimovich August 28, 2015.

Development Bank of Kazakhstan Joint-stock company (hereinafter-the Bank), located at the following address: Astana City, Orynbor st. House 10, the building "Kazyna Tower", reports that at the meeting of the Board of Directors of the Bank on August 21, 2015 (Minutes № 172-2015-09), held at the address: Astana City, Kunayev st. House 8, building "Emerald Quarter", Block B at 15-00, type of activity-banking, adopted decisions

  1. on the conclusion of a transaction in which the Bank has an interest by conclusion with Group of Companies Allure JSC, Tskhai Yu.A., Lavrentyev A.S. of the additional agreement to the contract of transfer of shares of №63-ДП-А/05-03 dated April 25, 2015;
    1. Value of the property being the subject of the transaction – the date of the last valuation of the property being the subject of the transaction is not applicable
    2. The percentage value of the property being the subject of the transaction is not applicable to the total value of the assets of the Joint-stock company-not applicable;
    3. The date of conclusion of the transaction is not applicable.
  2. on conclusion of the transaction, in the commission of which the Bank has an interest by conclusion with "Group of Companies Allure" JSC, "Agromashholding" JSC, "Saryarkaavtoprom" LLP, "Allur Distribution" LLP, "Allur Auto" LLP, additional agreements to contracts financing under the project "Improvement and stabilization of the financial and economic condition of the automobile direction of "Group of Companies Allure" JSC
    - the value of the property being the subject of the transaction is not applicable.
    The date of the last valuation of the property being the subject of the transaction is not applicable.
    The percentage value of the property that is the subject of the transaction to the total value of the assets of this joint stock company-is not applicable.
    Main essential conditions of the transaction
    1. Сhange of the financing currency;
    2. Increase of the funding limit; the date of conclusion of the transaction is not applicable.
  3. Development Bank of Kazakhstan Joint-stock company (hereinafter – the bank), located at the address: Astana City, Orynbor st. House 10, the building "Kazyna Tower", reports that at the meeting of the Board of the Bank on August 7, 2015 (Minutes № 38/15), held at the address: Astana City, Orynbor st. House 10, the building "Kazyna Tower", the type of activity-banking, decided to alienate the Bank 1 454 common shares of the Joint-stock company "Group of Companies Allure" (hereinafter-the company), located at: Kazakhstan, Almaty, Turksibskij District, Suyunbay Avenue, House 159a, ZIP code 050000, type of activity-mechanical engineering.
    As a result of implementation of the said decision, the percentage ratio of the number of shares of the company, which the Bank has to the total number of placed shares of the company will be – 9.9%. This decision of the Management Board of the Bank came into force on August 21, 2015.

Development Bank of Kazakhstan Joint-stock company (hereinafter-the Bank), located at the following address: Astana City, Orynbor st. House 10, the building "Kazyna Tower", reports that the decision of the Board of Directors of the Bank dated July 20, 2015 (Minutes № 171-2015-08), held at the address: Astana City, Kunayev st. House 8, building "Emerald Quarter", block B at 15-00, on the issue of № 15 of the agenda "on consideration of personnel issues of the internal audit service of Development Bank of Kazakhstan JSC unanimously decided on the early termination of the powers of the main Internal auditor of the Internal audit service of Development Bank of Kazakhstan JSC Tangisheva Asel Sagilymovna from July 21, 2015. 

Development Bank of Kazakhstan Joint-stock company (hereinafter-the Bank), located at the following address: Astana City, Orynbor st. House 10, the building "Kazyna Tower", reports that the decision of the Board of Directors of the Bank dated April 17, 2015 (Minutes № 168-2015-05), held at the address: Astana City, Kunayev st. House 8, building "Emerald Quarter", Block B in 15-00

  1. on the issue of № 2 of the agenda "on approving the terms of granting credit instrument to second-tier banks and DBK-Leasing JSC subsidiary organization of Development Bank Kazakhstan Joint-stock company and the conclusion of a transaction in which there is interest and transactions with a person associated with the Bank special relations unanimously decided to approve the basic conditions for the provision of credit instrument bank banks Second level in order to support domestic automakers for the crediting of natural persons-buyers of passenger cars of domestic production; On approving the terms of the loan instrument DBK-Leasing JSC subsidiary organization of the Development Bank of Kazakhstan Joint-stock company (hereinafter – DBKL) in order to support the production of domestic vehicles for leasing financing Legal entities and individual entrepreneurs, acquiring in leasing motor vehicles and vehicles of special purpose, with the exception of agricultural machinery, domestic production; On conclusion of a transaction in the commission of which there is an interest, namely the agreement on the provision of a credit instrument DBKL for the amount of 5 billion tenge and on the conclusion of a transaction with the DBKL, which is a person associated with the bank special DBKL relations, namely the Agreement on the provision of the credit instrument DBKL for the amount of 5 billion tenge and on the issue of № 7 of the agenda "on approving the terms of the loan instrument to second-tier banks and DBK-Leasing JSC subsidiary the organization of the Development Bank of Kazakhstan Joint-stock company and the conclusion of the transaction, in the commission of which there is interest and transactions with a person associated with the Bank special relations "unanimously decided to approve the provision of Credit instrument Brkl in order to support entrepreneurs exporting domestic goods and import products produced on the territory of the Republic of Kazakhstan in the field of manufacturing industry; On conclusion of a transaction in the commission of which there is an interest, namely the Agreement on the provision of credit instrument DBKL for the amount of 5.3 billion tenge and on the conclusion of a transaction with DBKL, which is a person associated with the bank special Relations, namely the Agreement on the provision of the credit instrument DBKL in the amount of 5.3 billion tenge;
  2. on the issue of № 10 of the agenda "on increase of obligations of Development Bank of Kazakhstan JSC by conclusion of the transaction currency-Percentage swap with the National Bank of the Republic of Kazakhstan unanimously decided to increase the Bank's liabilities by the amount Amounting to ten or more percent of the bank's equity capital by making a currency-interest swap with the National Bank of the Republic of Kazakhstan for the sum of 60 (sixty) billion tenge;
  3. on the issue № 17 of the agenda "on the appointment of the head of the internal Audit Service Development Bank of Kazakhstan JSC unanimously decided to appoint Kantarbayev Askar Shakirovich to the post of Head of internal audit of JSC Development Bank Kazakhstan JSC from May 18, 2015 with the establishment of a probationary period of 3 months.

Development Bank of Kazakhstan Joint-stock Company (hereinafter-the Bank) informs that the Board of Directors of the Bank dated March 20, 2015 (Minutes № 167-2015-04) has decided to conclude with DBK-Leasing JSC subsidiary organization of Development Bank Kazakhstan Joint-stock company(hereinafter-DBK-Leasing JSC) of the transaction, in the commission of which there is interest and transactions with a person who is associated with Development Bank of Kazakhstan JSC special relations, namely the conclusion of a contract on the provision of a credit instrument DBK-Leasing JSC.
Providing information on the value of the property being the subject of the transaction, the date of the last valuation of the property being the subject of the transaction, the percentage of the value of the property being the subject of the transaction to the total value of assets Joint-stock company, the main essential conditions of the transaction, the date of conclusion of the transaction is limited to art. 50 of the Law of the Republic of Kazakhstan "On banks and banking activity".

By the decision of the Board of Directors of the Bank of March 20, 2015 (Minutes № 167-2015-04), held at the address: Astana City, Kunayev st. House 8, building "Emerald Quarter", Block B at 15-00, on the issue of № 8 of the agenda "On approval of the increase of obligations of Development Bank of Kazakhstan JSC by attracting a loan from the Exim Bank of China for the amount of 500 mln. U.S. dollars unanimously decided to increase the Bank's liabilities by a value of ten and more percent of the Bank's equity by attracting a loan from the Export-Import Bank of China for the amount of 500 million US dollars and on the issue of № 9 of the agenda "On approving the increase of obligations of Development Bank of Kazakhstan JSC for the amount of 650 000 000 USD by attracting a loan from the state Development Bank of China unanimously decided to increase the Bank's obligations to amount of ten or more percent of the Bank's equity capital by signing a loan agreement with the state Development Bank of China to attract credit funds for a total amount of 650 million USD.

By the decision of the Board of Directors of the Bank dated March 19, 2015 (Minutes № 166-2015-03) the Chairman of the Board of Directors elected Bishimbayev Kuandyk Valikhanovich. 

The Board of Directors of the Bank on March 6, 2015 (Minutes № 165-2015-02) decided to increase the Bank's liabilities by a value of ten or more percent of its equity capital by attracting a loan from National Managing Holding "Baiterek" JSC for the amount of 135 000 000 000 (one hundred and thirty-five billion) tenge.

The Board of Directors of the Bank dated March 6, 2015 (Minutes № 165-2015-02) decided to conclude with DBK-Leasing JSC subsidiary organization of the Development Bank of Kazakhstan Joint-stock company (hereinafter-DBK-Leasing JSC) transaction, in the commission of which there is interest in the partial early redemption of DBK-Leasing JSC of the principal debt under the Bank loan agreement concluded between the bank and DBK-Leasing JSC. Information on the value of the property being the subject of the transaction, the date of the last valuation of the property being the subject of the transaction, the percentage of the value of the property being the subject of the transaction to the total value of assets Joint-stock company, the basic essential conditions of the transaction, the date of conclusion of the transaction is not applicable.


By the decision of the Board of Directors of Development Bank of Kazakhstan JSC dated January 30, 2015 (Minutes № 164-2015-01) Dosmukametov Kanat Mukhametkarimovich was elected deputy chairman of the Board – Member of the Board of Development Bank of Kazakhstan JSC from February 9, 2015 at term of office of the Board of Development Bank of Kazakhstan JSC, approved by the decision of the Board of Directors of Development Bank of Kazakhstan JSC dated October 20, 2014.

By the decision of National managing Holding JSC "Baiterek" "№ 02/15 dated January 26, 2015, Marcia Elizabeth Christian Favale was elected a member of the Board of Directors, an independent director of Development Bank of Kazakhstan JSC with a term of office until the expiry of the term of office Board of Directors of Development Bank of Kazakhstan JSC as a whole since January 26, 2015. The same decision determined the composition of the board of Directors of Development Bank of Kazakhstan JSC in the amount of 7 (seven) people.

 The Development Bank of Kazakhstan Joint Stock Company (hereinafter – Bank) informs that the Bank’s Board of Directors took decision on closing a transaction with the DBK-Leasing JSC, a subsidiary of the Development Bank of Kazakhstan Joint Stock Company on December 19, 2014 (minutes No. 163), which is of interest of both parties, i.e. entering into the additional agreement on extension of the availability period and change in financing amount to the Agreement on opening of credit line concluded between the Development Bank of Kazakhstan JSC and DBK-Leasing JSC, a subsidiary of the Development Bank of Kazakhstan Joint Stock Company. Information regarding the property price, being a subject of transaction, date of the last property assessment, being a subject of transaction, percentage rating of the property price, being a subject of transaction, to the total price of assets of this Joint Stock Company, basic essential terms of transaction, transaction date is not applicable.  

The Development Bank of Kazakhstan Joint Stock Company (hereinafter – Bank) informs, pursuant to the Decree of the National Bank of the Republic of Kazakhstan on imposition of an administrative penalty related to the case on an administrative violation as of October 31, 2014, the Bank has been subjected to administrative liability under the article 191 of the Code of administrative violations of the Republic of Kazakhstan and has been imposed an administrative penalty in the amount of 50 (fifty) monthly calculation index equaling to 92,600 (nine hundred an two thousand six hundred) KZT.

Sole Shareholder decisions

On approval of amendments to the Memorandum on Credit Policy of the Development Bank of Kazakhstan Joint-Stock Company, approved by the Decision of the Sole Shareholder of the Development Bank of Kazakhstan Joint-Stock Company dated October 27, 2016 (Minutes No. 43/16)

1. To approve the amendments to the Memorandum on Credit Policy of the Development Bank of Kazakhstan Joint-Stock Company, approved by the Decision of the Board of the Baiterek National Management Holding Joint-Stock Company dated October 27, 2016 (Minutes No. 43/16), according to Annex No. 3 to this Minutes.

2. The present decision is the decision of the Sole Shareholder of the Development Bank of Kazakhstan Joint Stock Company.


On the enforcement of the right for the preferential purchase of shares of the Development Bank of Kazakhstan Joint-Stock Company

1. To exercise the right of preferential purchase of shares of the Development Bank of Kazakhstan Joint-Stock Company in the amount of three hundred (300) ordinary shares at a placing price of forty million (40.000.000) tenge per ordinary share in the amount of twelve billion (12.000.000.000) tenge.

2. In accordance with the fixed procedure, to purchase shares of the Development Bank of Kazakhstan Joint-Stock Company pursuant to paragraph 1 of the present decision by full payment in cash.

3. Deputy Chairman of the Board R.T. Karagoyshin to take the necessary steps arising from the present decision.
On approval of the annual report of the Development Bank of Kazakhstan Joint-Stock Company for 2018

1. To approve the annual report of the Development Bank of Kazakhstan Joint-Stock Company for 2018 according to Appendix No. 7 to this protocol. 2. This decision is a decision of the Sole Shareholder of the Development Bank of Kazakhstan Joint-Stock Company.

On approval of amendments and additions to the Memorandum on the credit policy of the Development Bank of Kazakhstan Joint-Stock Company

1. To approve the amendments and additions to the Memorandum on the credit policy of the Development Bank of Kazakhstan Joint-Stock Company, approved by the decision of the Board of Baiterek National Management Holding JSC dated October 27, 2016 (protocol No. 43/16), according to Appendix No. 4 to this protocol.

2. This decision is a decision of the Sole Shareholder of the Development Bank of Kazakhstan JSC.

On Amendments to the Articles of Association of the Development Bank of Kazakhstan Joint-Stock Company

1. To amend the Charter of the Development Bank of Kazakhstan Joint-Stock Company, approved by the decision of the Board of Baiterek National Holding JSC dated December 24, 2014 (Minutes No. 41/14), changes in accordance with Appendix No. 1 to this Protocol.

2. To allocate the Chairman of the Board of the Development Bank of Kazakhstan Joint-Stock Company Sarkulov A.S. the right to sign amendments to the Charter of the Development Bank of Kazakhstan Joint-Stock Company.

3. The Chairman of the Board of the Development Bank of Kazakhstan Joint-Stock Company shall take all necessary measures arising from this decision.

4. This decision is a decision of the Sole Shareholder of the Development Bank of Kazakhstan JSC.

1. To elect Karagoishin Rustam Timurovich as a member of the Board of Directors of Development Bank of Kazakhstan Joint-Stock Company as a representative of the Sole Shareholder with a term of office until the expiration of the term of office of the Board of Directors of the Development Bank of Kazakhstan Joint-Stock Company as a whole.

2. To elect Omarov Marat Talgatovich as a member of the Board of Directors of the Development Bank of Kazakhstan Joint-Stock Company as a representative of the Sole Shareholder with a term of office until the expiration of the term of office of the Board of Directors of the Development Bank of Kazakhstan Joint-Stock Company as a whole.

3. The Chairman of the Board of the Development Bank of Kazakhstan Joint-Stock Company to take the necessary measures arising from this decision.

4. The present decision is the decision of the Sole Shareholder of the Development Bank of Kazakhstan Joint-Stock Company.

On certain issues of the Management Board and the Board of Directors of the Development Bank of Kazakhstan Joint Stock Company

1. To elect Sarkulov Abay Serikovich as Chairman of the Board of the Development Bank of Kazakhstan Joint Stock Company from April 29, 2019 with a term of office until the expiration of the term of office of the Management Board of the Development Bank of Kazakhstan Joint Stock Company in general.

2. To elect Sarkulov Abay Serikovich as a member of the Board of Directors of the Development Bank of Kazakhstan Joint Stock Company from April 29, 2019, with a term of office until the expiration of the term of office of the Board of Directors of the Development Bank of Kazakhstan Joint Stock Company in general.

3. The Board of the Development Bank of Kazakhstan Joint Stock Company to take measures to submit the issue to the meeting of the Board of Directors of the Development Bank of Kazakhstan Joint Stock Company to determine the size of the salary and terms of payment and bonuses of the Chairman of the Board of the Development Bank of Kazakhstan Joint Stock Company.

4. This decision is the decision of the Sole Shareholder of the Development Bank of Kazakhstan Joint Stock Company.

On certain issues of the Management Board and the Board of Directors of the Development Bank of Kazakhstan Joint Stock Company

1. Prematurely terminate the powers of Zhamishev Bolat Bidakhmetovich, the Chairman of the Board of the Development Bank of Kazakhstan Joint Stock Company, by agreement of the parties on April 26, 2019.

2. Prematurely terminate the powers of Zhamishev Bolat Bidakhmetovich as a member of the Board of Directors of the Development Bank of Kazakhstan Joint Stock Company on April 26, 2019.

3. This decision is the decision of the Sole Shareholder of the Development Bank of Kazakhstan Joint Stock Company.


On approval of the consolidated and unconsolidated financial statements of the "Development Bank of Kazakhstan" Joint Stock Company (hereinafter referred to as the "Company") for the year ended December 31, 2018, the procedure for distributing the Company's net income for the past financial year, paying dividends on simple shares, the amount of dividends per ordinary share, taking note of the information about the Sole Shareholder’s appeals for the Company's actions and the amount and composition of the remuneration of the members of the Board of Directors Directors and the Board of the Company

1. To approve the consolidated and unconsolidated financial statements of the Company for the year ended December 31, 2018 in accordance with Annexes 5 and 6 to this minutes.

2. To approve the following order of the net income distribution of the Company (location: the Republic of Kazakhstan, Z05T3E2, Astana city, Esil district, Mangilik El Avenue, building 55 A, n.r.p. 15; bank details: BIN – 010540001007, IBAN KZ17907A285300000001 in "Development Bank of Kazakhstan" JSC, Astana city, BIC DVKAKZKA.), obtained on the basis of the results of operations for the year 2018 in the amount of 3 243 808 896,86 tenge (three billion two hundred forty three million eight hundred eight thousand eight hundred ninety-six tenge eighty-six tiyn)                                          

1) the amount of 973,142,669.06 tenge (nine hundred seventy-three million one hundred forty-two thousand six hundred sixty-nine tenge six tiyn), which is 30% (thirty percent) of net income, should be sent to the payment of dividends of "Baiterek "National Management Holding" Joint Stock Company;

2) the remaining part in the amount of 2 270 666 227.80 tenge (two billion two hundred seventy million six hundred sixty six thousand two hundred twenty seven tenge eighty tiyn), which is 70 % (seventy percent) of net income, should be left at the disposal of the Company to reduce the accumulated losses of previous years.

3. To approve the amount of dividend per ordinary share of 461.88 tenge (four hundred sixty-one tenge eighty-eight tiyn).

4. To determine the start date of payment of dividends for 2018 – June 25, 2019.

5. Payment of dividends shall be made by transfer to the Bank account of the Sole Shareholder specified in the registers system of the Company shareholders.

6. To take note of the information on the absence of appeals of the Sole Shareholder of the Company to the actions of the Company and its officials for 2018, as well as the amount and composition of remuneration of members of the Board of Directors and the Management Board for 2018 in accordance with Annex No. 7 to this minutes.

7. The Chairman of the Board of the Company shall take measures arising from this decision.

8. This decision is the decision of the Sole Shareholder of the Company.

About implementation of the right of pre-emptive purchase of shares of joint-stock company Development Bank of Kazakhsta

1. To realize the right of preferential purchase of shares of Joint-Stock Company Development Bank of Kazakhstan in the amount of 375 (three hundred and seventy-five) ordinary shares at a placement price of 40,000,000 (forty million) tenge per ordinary share in the amount of 15,000,000,000 (fifteen billion) tenge.                              

2. To purchase shares of the Development Bank of Kazakhstan Joint-Stock Company in accordance with clause 1 of this decision by full payment in cash.                                                                                                    

3. To the managing Director - the member of Board Kuatova A. S. to take the necessary measures following from this decision



  1. 1To approve the Regulations on the Board of Directors of Development Bank of Kazakhstan joint-stock company in the new edition in accordance with Annex No. 5 to this minutes.
  2. Declare to be no longer in force:
    1. Regulations on the Board of Directors of Development Bank of Kazakhstan joint-stock company approved by the decision of the Management Board of National Management Holding Baiterek joint-stock company dated January 12, 2018 (Minutes No. 01/18);
    2. Regulations on the evaluation of the board of directors of Development Bank of Kazakhstan joint-stock company, approved by the decision of the Management Board of the National Management Holding Baiterek joint-stock company dated December 24, 2014 (Minutes No. 41/14); 
  3. To exclude the line, serial number 7, from the List of documents regulating the internal activities of Development Bank of Kazakhstan joint-stock company, subject to approval by the decision of the Sole Shareholder approved by the decision of the Management Board of  National Management Holding Baiterek joint-stock company dated October 25, 2017 (Minutes No. 41/17).
  4. To the Management Board of Development Bank of Kazakhstan joint-stock company to take necessary measures arising from the present decision.
  1. To determine the composition of the Board of Directors of Development Bank of Kazakhstan joint-stock company in the amount of 7 (seven) persons.
  2. Elect Anvar Galimullaevich Saidenov as a member of the Board of Directors, independent director of Development Bank joint-stock company
  1. Prematurely terminate the powers of a member of the Board of Directors of Development Bank of Kazakhstan Joint-Stock Company Zhanat Zhalgasbaiuly Alimanov from September 28, 2018.
  2. Determine the number of members of the Board of Directors of Development Bank of Kazakhstan joint-stock company - 6 (six) people.
  3. To the Chairman of the Management Board of Development Bank of Kazakhstan joint-stock company to take necessary measures, arising from the present decision.
  4. This decision is the decision of the Sole Shareholder of Development Bank of Kazakhstan joint-stock company.
  1. To amend and supplement to the Charter of the Development Bank of Kazakhstan joint-stock company approved by the decision of the Management Board of NMH Baiterek JSC dated December 24, 2014 (Minutes No. 41/14), in accordance with Annex No. 1 to this Minutes.
  2. To entrust B. B. Zhamishev, Chairman of the Management Board of the Development Bank of Kazakhstan joint-stock company by the right to sign changes and supplements to the Charter of the Development Bank of Kazakhstan joint-stock company.
  3. This decision is the decision of the Sole Shareholder of the Development Bank of Kazakhstan joint-stock company.
  1. To approve the Annual Report of Development Bank of Kazakhstan JSC for 2017 in accordance with Annex No. 3 to this Minutes.
  2. This decision is the decision of the Sole Shareholder of Development Bank of Kazakhstan JSC
  1. To approve the consolidated and unconsolidated annual financial statements of the Company for the year ended at December 31, 2017 in accordance with Annexes No. 14, No. 15 to this Minutes;
  2. To approve the following procedure for the distribution of the Company's net income received based on the performance results for 2017 in the amount of KZT 4 761 224 802.76 (four billion seven hundred sixty one million two hundred twenty four thousand eight hundred two tenge seventy six tiyn):
    1. the amount of KZT 1 428 367 440.83 (one billion four hundred twenty eight million three hundred and sixty-seven thousand four hundred forty tenge eighty-three tiyn), which is 30 (thirty)% of net income, to pay dividends to National Managing Holding Baiterek JSC;
    2. the remaining part in the amount of KZT 3 332 857 361.93 (three billion three hundred thirty two million eight hundred fifty seven thousand three hundred and sixty-one tenge and ninety-three tiyn), which is 70 (seventy) per cent of net income, shall be retained by the Company as a reduction of accumulated losses previous years;
    3. approve the amount of dividend per one common share of the Bank KZT 678.03 (six hundred seventy eight tenge and three tiyn) for 2017;
    4. date of commencement of payment of dividends for 2017 is June 25, 2018;
    5. payment of dividends shall be effected by transfer to the bank account of the Sole Shareholder specified in the system of registers of holders of shares of the Company.
      Company Details:
      BIN – 010540001007,
      Location: Republic of Kazakhstan, Z05M9Y2, Astana, Esyl district, 10 Mangilik El avenue.
      IBAN KZ17907A285300000001 in the Development Bank of Kazakhstan JSC, Astana
      BIC DVKAKZKA;
  3. To take into consideration information on the absence of appeals of the Sole Shareholder of the Company on the actions of the Company and its officials for 2017.
  4. To take note of information on the amount and composition of remuneration of members of the Board of Directors and the Management Board of the Company for 2017 in accordance with Annex No. 16 to this Minutes.
  5. To the Chairman of the Management Board of the Company to take the measures arising from this decision.
  6. This decision is the decision of the Sole Shareholder of the Company.
  1. To define quantitative composition of the Development Bank of Kazakhstan JSC Board of Directors - 7 (seven) persons with a term of office of 3 (three) years from March 13, 2018.
  2. To elect members of the Board of Directors of Development Bank of Kazakhstan JSC for a term up to the expiry of the term of office of the Board of Directors of Development Bank of Kazakhstan JSC as a whole:
    1. Aidar Arifkhanov, representative of the Sole Shareholder;
    2. Galymzhan Tajiyakov, representative of the Sole Shareholder;
    3. Eszhan Birtanov, representative of the Sole Shareholder;
    4. Bolat Zhamishev, Chairman of the Management Board;
    5. Marcia Elizabeth Christian Favale, independent director;
    6. Zhanat Alimanov, independent director;
    7. Antonio Somma, independent director.

To elect Birtanov Eszhan Amantayevich as a member of the Board of Directors of Development Bank of Kazakhstan JSC as a representative of the Sole Shareholder with a term of office until the expiry of the term of office of the Board of Directors of Development Bank of Kazakhstan JSC as a whole. 

  1. Approve the Provisions on the Board of Directors of Development Bank of Kazakhstan joint stock company in accordance with Annex No.__ to present Minutes.
  2. The Provision on the Board of Directors of Development Bank of Kazakhstan joint stock company approved by the resolution of the Management Board of Baiterek NMH JSC dated December 24, 2014 (Minutes No. 41/14) shall be considered to have lost force.
  3. The Management Board of Development Bank of Kazakhstan joint stock company shall take the necessary measures arising from this resolution. This resolution is the resolution of the Sole Shareholder of Development Bank of Kazakhstan joint stock company 

To determine Audit Business Group LLP as an audit organization: performing a special purpose audit of quasi-public sector subjects for 2016 in Development Bank of Kazakhstan JSC 

  1. To approve the new version of the Corporate Governance Code of Development Bank of Kazakhstan JSC, in accordance with Annex No. 16 to the Minutes.
  2. To declare the Corporate Governance Code of Development Bank of Kazakhstan JSC approved by the Resolution of the Sole Shareholder dated July 24, 2015 (Minutes No. 23/15) to be no longer in force.

To early terminate the authority of a member of the Board of Directors of Development Bank of Kazakhstan JSC Dosayev Yerbolat Askarbekovich.

On approval of the List of documents regulating the internal activities of Development Bank of Kazakhstan Joint-Stock Company, subject to approval by the decision of the Sole Shareholder

  1. To approve the list of documents regulating the internal activities of Development Bank of Kazakhstan JSC, subject to approval by the decision of the Sole Shareholder, as amended according to the annex to the Minutes.
  2. This decision is the decision of the Sole Shareholder of Development Bank of Kazakhstan JSC.
  3. The Management Board of Development Bank of Kazakhstan JSC shall take the necessary measures arising from this decision.

On introducing amendments and additions to the Charter of Development Bank of Kazakhstan Joint Stock Company

  1. To introduce amendments and additions to the Charter of the joint-stock company Development Bank of Kazakhstan in accordance with Annex No. 9 to this Minutes.
  2. To authorize Zhamishev B.B., the Chairman of the Board of Development Bank of Kazakhstan JSC to sign amendments and additions to the Charter of Development Bank of Kazakhstan Joint Stock Company.
  3. The Chairman of the Board of Development Bank of Kazakhstan Joint Stock Company (Zhamishev B.B.) is to take necessary measures arising from this decision.
  4. This decision is the decision of the Sole Shareholder of Development Bank of Kazakhstan Joint Stock Company.

On approval of the Annual Report of Development Bank of Kazakhstan JSC for 2016 Approve the Annual Report of Development Bank of Kazakhstan JSC for 2016 (unanimously)

On approval of the consolidated and unconsolidated financial statements of “Development Bank of Kazakhstan” JSC for the year ended December 31, 2016, the order of net income distribution for the past financial year and the amount of dividends per one common share, taking note of the information about the Sole Shareholder's inquiries, concerning the actions of the Bank and remuneration of the members of the Board of Directors and the Management Board of “Development Bank of Kazakhstan” JSC. 

The decision of the Sole shareholder dated from April 26, 2017

The NMH Baiterek JSC Managing Board Decision dated March 10, 2017

The following changes and amendments are made to the Charter of the Development Bank of Kazakhstan with the NMH Baiterek JSC Managing Board Decision of March 10, 2017 (protocol No. 12/17).

  1. According to the item 1 of the article 9 of the Republic of Kazakhstan law “On Joint Stock Companies”, Company Charter is a document defining the company legal status as a legal entity. The Company Charter should be signed by the founders (sole founder) or their representatives (representative), except changes and amendments to the charter (including the ones set as a new edition of the charter), executed under the procedure provided by the Republic of Kazakhstan laws, that are signed by a person authorized by general meeting of the Shareholders. Company charter, as well as all the changes and amendment thereto are subject to notarization.
  2. According to the item 1, clause 14-1 of the Republic of Kazakhstan Law On State Registration of Legal Entities and Record Registration of Branches and Representatives dated April 17, 1995, in case there are changes and amendments made to the joint stock company articles of incorporation, that does not cause state (record) reregistration, the legal entity shall notify registration body about it in a month upon the decision on such amendment and change to the charter (provision) is made. State registration of the changes and amendments to the articles of incorporation of the joint stock company should be made in case the location is changed.
The NMH Baiterek JSC Managing Board Decision dated March 10, 2017
  1. To define quantitative composition of the Development Bank of Kazakhstan JSC Board of Directors – 7 (seven) persons.
  2. To early terminate the powers of Yersain Yerbulatovich Khamitov, member of the Development Bank of Kazakhstan JSC Board of Directors, representative of the Sole Shareholder.
  3. To elect Aidar Abdrazakhovich Arifkhanov as a member of the Development Bank of Kazakhstan JSC Board of Directors, representative of the Sole Shareholder with the powers valid until powers of the whole Board of Directors of the Development Bank of Kazakhstan JSC expire.
  4. To elect Galymzhan Bissengaliyevich Tadzhiyakov as a member of the Development Bank of Kazakhstan JSC Board of Directors, representative of the Sole Shareholder with the powers valid until powers of the whole Board of Directors of Development Bank of Kazakhstan JSC expire.

On the placement of shares, including the number of placed shares of Development Bank of Kazakhstan JSC​

The decision of the Sole shareholder dated from December 7, 2016

On the change in the composition of the Board of Directors of Development Bank of Kazakhstan JSC

The Development Bank of Kazakhstan JSC (hereinafter referred to as the Bank) informs that by the decision of the Board of JSC National Managing Holding Baiterek dated November 23, 2016 (Minutes No. 47/16), Antonio Somma elected as a member of the Board of Directors of the Bank as an Independent Director from December 2 In 2016.

The composition of the Board of Directors of the Bank, includes changes: Yerbolat Dosayev, Bolat Zhamishev, Yersain Khamitov, Zhanat Alimanov, Marcia Elizabeth Christian Favale, Antonio Somma.

The NMH Baiterek JSC Managing Board Decision dated Maу 19, 2016​

The NMH Baiterek JSC Managing Board Decision dated Maу 19, 2016

On approval of the consolidated and non-consolidated financial statements of “Development Bank of Kazakhstan” JSC for the year, ended on December 31, 2015; the order of distributing the net income for the past accounting year and the dividend rate for one ordinary shares, taking into consideration on the addressing by the shareholder of the “Development Bank of Kazakhstan” JSC and its executive officers and also on the rate of remuneration and the membership of the Board of Directors and the Management Board of the “Development Bank of Kazakhstan” JSC in 2015. ​

The decision of the Management Board of JSC “Baiterek National Management Holding” on April 28, 2016

Оn early termination of powers and election of a member of the Board of Directors of “Development Bank of Kazakhstan” JSC

The decision of the Management Board of JSC “Baiterek National Management Holding” on February 4, 2016.