Gusarov S. N. "Reliability of a bank – is a key parameter for any depositor"

28.02.2014 Every person aims to accumulate capital: some people keep their money at home, others invest it in something, and some people - preserve and multiply their capital in banks. Sergey Gusarov, Chairman of the Board of Subsidiary JSC VTB Bank (Kazakhstan) has told about the Bank's activities, product line and offered services in an interview to business publications «» and «Kursiv». kz»

Sergey Nikolayevich, events of recent weeks have alarmed depositors across the country. Major banks are experiencing an outflow of term deposits. Does VTB Bank (Kazakhstan) feel negative impact?

I can say definitely that it does not. On the contrary, we are watching an increase of number of clients: both legal entities and individuals wishing to open accounts in VTB Bank (Kazakhstan). The reasons for this are obvious advantages of our Bank - reliability, stable financial condition and guarantees of our main shareholder - Government of the Russian Federation. Trusting their savings to us, inhabitants of the country can be confident in the safety of money. In addition, the interest rate on term deposits remains unchanged for the entire period of deposit. It is very important that VTB Bank (Kazakhstan) is a member of the system of mandatory collective guaranteeing (insurance) of deposits (deposits of individuals).

What kinds of advantages are given to depositors by membership of the Bank in the system of Kazakhstan Deposit Insurance Fund (KDIF)?

Name of the fund speaks for itself - it protects depositors by guaranteeing deposits in the case of compulsory liquidation of participating banks. In case of bankruptcy of the bank, each depositor is entitled to get guarantee reimbursement in the amount of the deposit balance without interest accrued on the deposit, but not more than 5 million tenge. Accordingly, we offer our clients guaranteed reliability of financial group of VTB, supported by participation in the system of mandatory collective guaranteeing of deposits.

Please tell us about range of deposits for population: what conditions on term deposits are offered today by VTB Bank (Kazakhstan) to its clients?

It is well known that reliability of a bank – is a key parameter for any depositor. Each of 4 deposits of our Bank is designed on the basis wishes of clients. For example, «Accumulative» deposit, which, incidentally, is the most popular among our clients, allows replenishing and withdrawing money at any time to not-reduced balance, currency of the deposit can be in tenge, Russian rubles and US Dollars. «Saving» deposit can be opened without restrictions on the minimum deposit amount; it can also be opened in three currencies and provides six options of period of placement. For those who want to place a deposit in national currency for a long period - «Stable» deposit is the most suitable option. «VIP» deposit provides the highest income with opportunity to replenish the deposit amount by additional contributions of any frequency and withdrawal of a part of deposit amount while maintaining the minimum deposit amount. In addition, funds on deposits of clients can be used as pledge for a loan. This fact significantly increases potential chance to obtaining a loan in our Bank on affordable terms.

What, in your opinion, should depositor pay attention to before opening deposit in one or another bank?

Each investor must rely on rating of bank’s reliability, terms and offers proposed by bank. Recognition of selected bank - reflects its stability. It is obvious that, if you know history of the bank, in which countries it successfully conducts business, who its shareholders are, etc. - it helps to form an impression about financial institute to which you want to trust your savings.

What is necessary to open deposit in your Bank. How simple the procedure for opening deposit is?

All you need - is to come to the nearest branch of VTB Bank (Kazakhstan) and have original of a document certifying identity. Especially for saving time of our clients the most convenient time to visit Bank is appointed on the basis of applications submitted on the web-site, detailed consultations on selection of deposit is provided taking into account demands and wishes of a client.

What is the maximum interest rate on deposits at the moment?

Nominal interest rate in national currency in our Bank amounts to 9% per annum, in foreign currency – 3,5% per annum. Maximum effective rate amounts to 9,4% per annum in national currency and 3,6% per annum in foreign currency, what meets requirements of KDIF.

VTB Bank (Kazakhstan) is 100% subsidiary Bank of the largest Russian OJSC VTB Bank. License of FSA of the Republic of Kazakhstan was obtained by the Bank in 2009. It is obvious that it is young bank for Kazakhstanis. What results have been achieved by VTB in Kazakhstan in 4 years?

You are right, in Kazakhstan we - are new and young Bank. But Russian VTB Bank - originates its activities since 1990. For more than 23 years of its history VTB Group has built international network, which is unique for Russian banks and has about 30 banks and financial companies in more than 20 countries of the world. VTB provides its clients with comprehensive services in the countries of CIS, Europe, Asia and Africa. VTB Group ranks second in all basic indicators in Russian banking market. Share of government in the capital of VTB amounts to 60,9% . VTB Group has reputation of reliable and stable partner for many years. Accordingly, belonging of our Bank to such powerful and successful financial institution is one of the most important advantages that we offer to our clients in Kazakhstan. Today branches of our Bank are open almost in all regional centers of the country, we have 24 points of sale in 17 cities of the Republic of Kazakhstan and in 2014 we plan to expand branch network in order to maximize convenience of our customers. We offer wide range of financial services to both private clients and business entities. I would like to emphasize that all our banking products are characterized by maximum flexibility, providing an individual approach to such conditions as: debt repayment schedule, choosing loan currency, interest rate stability. While preparing to this interview, I set for myself the main purpose to inform all inhabitants of the Republic of Kazakhstan about our serious ambitions on providing Kazakhstanis with quality, reliable and secure banking services.

Thanks for the interview!

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