ACRA AFFIRMS THE CREDIT RATING OF SO VTB BANK (KAZAKHSTAN) JSC ON THE INTERNATIONAL SCALE AT BBB+, WITH A “STABLE” OUTLOOK

The Analytical Credit Rating Agency (ACRA) has affirmed the credit rating of Subsidiary JSC VTB Bank (Kazakhstan) on the international scale at BBB+ with a “Stable” outlook.

According to AKRA’s assessment, the Bank’s BBB+ international credit rating is supported by strong assessments of capital adequacy and the “Funding and Liquidity” factor, as well as a high probability of external support from the shareholder.

AKRA notes that VTB (Kazakhstan) maintains a significant capital buffer that substantially exceeds regulatory requirements. The results of the stress test conducted confirm the Bank’s ability to withstand a significant additional increase in the cost of risk.

In its assessment of VTB (Kazakhstan)’s stand-alone creditworthiness, AKRA takes into account that the Bank’s primary region of presence and operations is the

Republic of Kazakhstan (AKRA rating: BBB+, outlook “Stable”).
The “Stable” outlook indicates that the credit rating is highly likely to remain unchanged over the next 12 to 18 months.

Background
The Analytical Credit Rating Agency (ACRA) was established in 2015. In 2023, ACRA confirmed its compliance with the criteria established by the Agency of the Republic of Kazakhstan for the Regulation and Development of the Financial Market (ARDFM). Based on the assessment results, ACRA’s ratings have been recognized by the ARDFM for use by financial institutions to comply with prudential requirements and regulatory limits.