Agency Fitch confirmed ratings of VTB Bank (Kazakhstan)


On the 13th of February 2012 Fitch Ratings the International rating agency confirmed earlier assigned ratings of VTB Bank (Kazakhstan).
So, the long term issuer default ratings («DRE») in foreign currency and national currency have been confirmed at the level of «BBB–» («ВВВ minus»), prognosis is «Stable». This level of DRE, according to Fitch, is reflecting high probability of getting by VTB Bank (Kazakhstan) support from single stockholder – Russian backbone VTB Bank JSC.

Fitch also specifies that changes of DRE VTB Bank (Kazakhstan), in all probability, will correspond to the changes of ratings of VTB Bank JSC. So the «Stable» prognosis by ratings of branch organization is reflecting prognosis by private ratings of the parent bank.
The short term DRE of VTB Bank (Kazakhstan) in foreign currency has been confirmed at the level of «F3». Rating of support was confirmed at the «2» level. National rating was confirmed at the level of «AA(kaz)», «Stable» prognosis. Senior unsecured rating: long term rating was confirmed at the level of «BBB–» («ВВВ minus»), national rating – at the level of «AA(kaz)».

According to Alexandr Kostyan, First Deputy Chairman of the Board – member of Management Board of VTB Bank (Kazakhstan), confirming of Bank ratings of Fitch agency on previous high level indicates considerable reliability of financial institute: «In modern economical conditions, when they warn on a new spin of crisis form the rostrums, the main criteria for bank choosing is its stress tolerance. Objective indicators of this ability are ratings of the international rating agencies. And in this context we have something to be proud of: as the ratings of VTB Bank (Kazakhstan) by Fitch agency – are the highest within the bank sector of the republic. This means, that our investors can be absolutely sure about the security of their savings».


For reference only:

Subsidiary company VTB Bank JSC (Kazakhstan) – is 100% affiliated bank of the biggest Russian VTB Bank JSC. The Subsidiary Bank in RK has been operating since the 1 of July 2009. At the present time its registered capital is 20 milliard tenge, and affiliated net includes 17 big Kazakhstan cities. In 2011 Fitch Ratings the International rating agency rated the Bank at the «BBB-» level with stable prognosis, which evidences the positive and stable financial position of the Bank.

VTB Bank and its subsidiary companies form an international financial group, conducting their activity on Russian and foreign markets. VTB group – there are more than 20 banks and financial companies in 19 countries of CIS, Europe, Asia and Africa. The main stockholder of VTB is the Government of the Russian Federation (75,5%). VTB Group renders the whole range of financial services, including banking service of individuals and corporate clients, investment-banking and additional financial services, including leasing, factoring, insurance and pension coverage.