The Development Bank of Kazakhstan (a subsidiary of Baiterek Holding, hereinafter – DBK, the Bank) has been recognised by the Kazakhstan Stock Exchange (KASE) for its issuance activity in 2025. The recognition highlights DBK’s contribution to expanding funding opportunities for the national economy and attracting investment for the implementation of strategic infrastructure and industrial projects.
Each year, KASE recognises exchange members and listed companies that have made a significant contribution to the development of Kazakhstan’s domestic capital market.
In 2025, DBK successfully placed five local bond issues and five Eurobond issuances in international markets. The total volume of financing raised amounted to approximately USD 2.48 billion equivalent. The Bank’s activity in the capital markets enabled it to broaden its investor base, attract long-term funding for projects in Kazakhstan, and diversify the currency structure of its funding.
Among the key transactions was DBK’s debut in the renminbi bond market. The Bank became the first issuer in Central Asia to place renminbi-denominated Eurobonds totalling CNY 2 billion.
DBK also executed the largest Eurobond issuance in national currency, amounting to KZT 300 billion. The transaction was conducted alongside a USD 500 million Eurobond issuance (dual-tranche placement) and demonstrated strong investor demand.
In the domestic market, the Bank placed 10-year bonds totalling KZT 55 billion, with a coupon linked to the TONIA benchmark. This marked DBK’s longest-tenor issuance using this reference rate.
DBK’s consistent activity in the capital markets is aimed at further developing funding instruments, strengthening investor confidence, and reinforcing the role of Kazakhstan’s capital market as an effective source of long-term financing for the national economy.
