Today the President of Kazakhstan Nursultan Nazarbayev held a meeting with Andrey Kostin – President and Chairman of the Management Board of OJSC VTB Bank.

11.06.2013 The meeting was also attended by Deputy Head of the Administration of the President B. Sultanov, shareholder of «ENRC Kazakhstan» LLP F. Shodiyev and First Deputy President and Chairman of Management Board of OJSC VTB Bank Yuri Soloviev.

During the meeting they discussed main directions of activity of the subsidiary bank in Kazakhstan, as well as participation of VTB Bank in development and diversification of the national economy.

Nursultan Nazarbayev noted that VTB Bank, being one of the largest banks not only in Russia but also in Europe, has been actively involved in lending to the private and corporate sector in Kazakhstan.

- As a part of industrial-innovative program, extremely favorable conditions have been created for those who implement projects in our country. Kazakhstan actively promotes the development of small and medium-sized businesses, in particular, the pace of its lending grow. In general, today the banking system is developing consistently, there is growth in the banks’ equity, - emphasized the President of Kazakhstan.

Head of state also paid attention to the necessity of activation of cooperation in the development of entrepreneurship in Kazakhstan, taking into account functioning of the Common Economic Space.

In turn, the President and Chairman of the Management Board of OJSC VTB Bank Andrey Leonidovich Kostin expressed his gratitude for the meeting and noted that VTB Group actively operates in Kazakhstan.

- We have plans to expand cooperation. We see that, thanks to your efforts, the economy is developing intensively. In addition, integration processes that increase the possibility of cross-border business are taking place. We are interested in working with large Kazakh companies, which are entering the world and European level today. Therefore our goal is to study opportunities available here, - said A. Kostin. In addition, the meeting marked perspective aspects of mutually beneficial cooperation in the context of the work on improvement of financial system that is being conducted in our country.

VTB Bank Group is the leading Russian financial group, offering a wide range of banking services in Russia, CIS, Europe, Asia, Middle East, Africa and USA. The subsidiary bank has been working in market of Kazakhstan since the beginning of 2008.

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