Bank VTB (Kazakhstan) announces financial results for the first quarter of 2012

Almaty –Subsidiary of Joint Stock Company Bank VTB (Kazakhstan) publishes its financial statements as at 01.04.2012:

Key financial and operating performance compared with the beginning of 2012:

• The authorized capital of 20 billion tenge;
• The bank’s assets grew by 6593 million tenge-up to 69 063 million tenge;
• Liabilities increased by  6 854  million tenge-up to 51 726 million tenge;
• Bank’s loan portfolio amounted to 49 600 million tenge and increased by 3 930 million tenge. The quality of loan portfolio is high;
• The amount of funds in the accounts of customers and deposits continued to grow, and at 01.04.2012 has reached 33 932 million tenge;
• Net interest income for the period amounted to 812,546 million tenge, an increase of 4 times compared to the same period last year;
• Net loss, excluding formed at the request of a regulator of Kazakhstan provisions decreased by 36084 thousand KZT and amounted 260 777 thousand tenge.

The growth of assets due to loans issued and the acquisition of trading securities. Loan portfolio quality remains high, the level of provisions in relation to the Bank’s loan portfolio amounted to 1%, or 541 million tenge.

Bank VTB (Kazakhstan) continues active lending policies of the business- the source of new jobs in the regions of presence, expanding its range of retail products and also increases the safety of banking operations.

The development of the branch network continues to provide some pressure on the Bank’s financial results, but at the same time it should be noted a significant increase in interest income and operating income related to business growth. The Bank has planned expenditures under the program for the development of the branch network that is fully consistent with the Bank delivered an ambitious task.

Reference:
SO JCS Bank VTB (Kazakhstan) a 100% subsidiary of Russia’s largest bank OJSC VTB.
License  #1.1.259 FSA of ROK on 22.05.2009.
The international rating agency Fitch Ratings has assigned ratings to the Bank at «BBB-» with a stable outlook, reflecting the positive and stable financial condition of the Bank.

VTB Bank and its subsidiaries form an international financial group, lending its work on domestic and foreign markets. VTB Group – has more than 20 banks and financial companies in 19 countries of the CIS, Europe, Asia and Africa. The major shareholder of VTB is The Government of the Russian Federation (75.5%).