Financial Performance of Subsidiary VTB Bank (Kazakhstan) for III quarter of 2017
According to unaudited reporting as of October 1, 2017 the net profit of VTB Bank (Kazakhstan) amounted to KZT 551 million, of these the profit for the third quarter of the year amounted to KZT 275 million. The Bank assets as of the date stated above amounted to KZT 172.2 billion, of these 39% or KZT 66.8 billion were credits provided to clients. The Bank liabilities amounted to KZT 157.2 billion, of these 60% or KZT 94.4 billion were bank accounts and clients’ deposits. The authorized capital of the Bank has not changed and amounts to KZT 27.3 billion. The net interest income before reserve formation for the third quarter of 2017 amounted to KZT 2.3 billion which was 1.7 times higher than the value of this indicator for the same period last year.
- It has been 9 months since VTB Bank (Kazakhstan) adopted a new three-year development strategy. The Bank performance for this period demonstrates sustainable growth in income. The Bank performance current indicators make a good base for both achievement of financial goals for 2017 and for fulfillment of short-term strategic tasks, - Chairperson of the Management Board of VTB Bank (Kazakhstan) Dmitry Zabello said. - During the third quarter of 2017, we have optimized bank expenditures and continued increasing the retail market share by offering modified products and services.
During the latest six months the Bank has launched a number of updated products which include an offer for refinancing of client credits provided by other financial institutions and reduction of rates on retail client crediting. In addition to this, the Bank actively works on state programs focused at both support of small and medium-sized businesses – together with “Damu” Entrepreneurship Development Fund, and of individuals on “Nurly Zher” Housing Construction Program.
In accordance with the development strategy for the three coming years VTB Bank (Kazakhstan) will continue its harmonious development as a universal bank by keeping the balance of business lines between large investment business – 20%, medium-sized business – 40%, and retail business – 40%.
Subsidiary VTB Bank JSC (Kazakhstan) is a member of VTB international financial group. The Bank has successfully worked more than 8 years in the financial market of Kazakhstan. To date, Subsidiary VTB Bank JSC (Kazakhstan) has a branch network, consisting of 41 structural subdivisions, 17 of which are branches. The Bank's Central Office is located in Almaty. The license of the National Bank of the Republic of Kazakhstan No.1.2.14/39 dated December 23, 2014.
For additional comments you can always contact the press-service:
Subsidiary VTB Bank JSC (Kazakhstan)
Tel: 8 (727) 330 59 20 int. 59 20
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