Bank VTB (Kazakhstan) announces financial results for the first half of the year 2011

Almaty – Bank VTB (Kazakhstan) Subsidiary Organization Joint-Stock Company publishes financial statements as at 01.07.2011.

Basic financial and operational performances as compared with the similar period of the previous year:

• The authorized capital stock amounted to 20 billion tenge having increased by the amount of 14 billion tenge;
• Bank’s assets increased 6 times – up to 40,630 billion tenge;
• Liabilities increased 22 times – up to 21,794 billion tenge;
• Credit portfolio of the Bank amounted to 16 089 million tenge and increased 16 times as compared with the first half of the year 2010. Quality of the credit portfolio is at high level;
• Amount of funds on accounts and deposits of customers continued to increase and as at the 01st of July 2011 achieved 16 849 million tenge, having considerably increased as compared with the first half of the year 2010;
• Net interest income amounted to 502 million tenge having increased 2,4 times as compared with the similar period of the previous year;
• Net fee income amounted up to 119 million tenge having increased 3,5 times as compared with the similar period of previous year.

“Subsidiary Bank VTB in Kazakhstan, which commenced its activity just two years ago, at present is developing at very fast pace demonstrating exceeding expected performances of the business plan. There is no doubt that active growth certainly influences on financial results in the context of profit earning, however this is in full correspondence with ambitious tasks set to the Bank. We are sure in further successful development of Bank VTB (Kazakhstan),” – the Member of the Management Board of Bank VTB OJSC, the Chairman of the Board of Directors of Bank VTB (Kazakhstan), Ms. Olga Dergunova, noted.

According to the approved strategy of development the Bank continues to actively develop the regional network in the Republic of Kazakhstan. Thus, 5 new branches were opened from beginning of the year 2011 in the following cities: Karaganda, Ust-Kamenogorsk, Atyrau, Aktobe, Semei, as well as two Additional Offices in Almaty City. As at the 01st of July 2011 the Bank has branch network consisting of 10 offices.

“We are continuing to successively realize the strategy of VTB stably increasing speed. We are going to ensure earning power both of the branches and the leading VTB Bank (Kazakhstan) that will encourage further effective growth and rise in capitalization of VTB in general,” – Sergey Gussarov, Chairman of the Management Board of Bank VTB (Kazakhstan) SO JSC, commented.

In February 2011 the Bank became a member of the VISA International Payment System and at the present it is preparing for opening its own processing centre. In May 2011 the Bank has signed an agreement with the EBRD (the European Bank for Reconstruction and Development) for setting limit within the framework of the Trade Facilitation Program to the amount of 20 million US dollars. In June 2011 Bank VTB (Kazakhstan) was admitted to the membership of “The Kazakhstani Stock Exchange” JSC in “foreign exchange market member” category with the right to take part in exchange trading in foreign currencies.

For information only:
Information about VTB Group
Bank VTB OJSC and its subsidiary banks (hereinafter referred to as the VTB Group or the Group) are the leading Russian financial group providing a wide range of banking services in Russia, CIS, countries of the Western Europe, Asia and Africa.
The Group is making banking transactions in Russia through one parent bank (VTB Bank) and two subsidiary banks – VTB24 and TransCreditBank. The Group is carrying out its activity outside Russia through 12 subsidiary banks located in the CIS countries (Armenia, Ukraine, Belarus, Kazakhstan and Azerbaijan), in Europe (Austria, Cyprus, Germany, France and Great Britain), in Georgia, Africa (Angola), as well as through two representative offices located in Italy and China, through two branches of VTB located in China and India, as well as through two branches "VTB Capital” PLC in Singapore and Dubai.
The VTB Group is functioning in areas of corporate-investment and retail banking.
53 311 employees work in the Group as at the 31st of March 2011.
In February 2011 the Government of the Russian Federation reduced its interest in capital of VTB Bank down to 75,5% from 85,5% as a result of public offer of ordinary shares and global depository receipts of the Bank.

Information about Bank VTB (Kazakhstan)
Bank VTB (Kazakhstan) Subsidiary Organization JSC is a 100% subsidiary Bank of the Russian Bank VTB OJSC.
The Bank is functioning In the Republic of Kazakhstan from the 1st of July 2009. (License of the AFS of the Republic of Kazakhstan No.1.1.256 dated 22.05.2009).
As at 28.07.2011 394 persons worked in Bank VTB (Kazakhstan) SO JSC (including branches).
The Bank’s international “BBB-” rating/”Stable” forecast was affirmed by Fitch Ratings, which fact evidences its positive and stable financial condition.