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VTB News (Kazakhstan)

25.12.2020

The agent-bank Subsidiary VTB Bank JSC (Kazakhstan) will continue making payments to the depositors of Qazaq Banki JSC throughout its branch network until April 24, 2021. Payments are made on behalf of and at the expense of the Kazakhstan Deposit Insurance Fund JSC.

Depositors may apply to all agent bank’s branches on any business day until April 24, 2021.

VTB Bank JSC (Kazakhstan) pays compensation on the basis of the identity document and the depositor’s application form, which can be obtained and filled in at the branch. Payment of compensation is also possible under a power of attorney. Money is paid out in cash or by wire transfer to the bank account; you can open a deposit at the agent-bank for the payment amount. The maximum period of payment is 5 business days.

The Kazakhstan Deposit Insurance Fund pays compensation to individuals and individual entrepreneurs – customers of the Qazaq Banki JSC:

· For deposits in KZT – to the deposit amount taking into account the capitalized interest, but not more than 10 million KZT inclusive,

· For deposits in foreign currency – to the deposit amount taking into account the capitalized interest, but not more than 5 million KZT inclusive. Compensation for deposits in foreign currency is paid in KZT the market exchange rate as of December 12, 2019, is used for calculation.

For deposits of one depositor, placed in the Qazaq Banki JSC both in KZT and in foreign currency, the total compensation up to 15 million KZT is paid, and for the deposit in foreign currency – not more than the equivalent of 5 million KZT.

Consultation of a specialist on payments to the depositors of the Qazaq Banki JSC and the deposit guarantee can be obtained free of charge from the KDIF call center via the short number 1460.

The list of branches and outlets of the agent bank Subsidiary VTB Bank JSC (Kazakhstan) is available on the website: www.vtb-bank.kz. Information about the work of branches and outlets can also be obtained from the information service via the short number: 5050 (free of charge call from a cell phone).

Background information

On 27 August 2018 the Qazaq Banki JSC was deprived of its license to carry out all banking transactions based on the decision of the Management Board of the National Bank of the Republic of Kazakhstan.

On October 24, 2018, the Almaty City Specialized Inter-district Economic Court took a decision on the compulsory liquidation of the Qazaq Banki JSC.

On December 12, 2018, the decision of the Almaty City SIEC dated October 24, 2018, entered into legal force.

On December 24, 2018, the agent-bank Subsidiary VTB Bank JSC (Kazakhstan) began to pay compensation to the depositors on behalf of and at the expense of KDIF. About 90% of liabilities to the depositors were repaid during the first month from the beginning of the payout.

 

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