Rating agency S&P has confirmed ratings of VTB Bank (Kazakhstan)

14.08.2014 International rating agency Standard & Poor’s has confirmed the
long-term rating of VTB Bank (Kazakhstan) at the level of «ВВ+/Negative/B»; «kzAA-»

As it was noted by the agency, the ratings were confirmed after
analysis of sanctions announced by the European Union and the government of the United States to financial indicators of the Bank.

In the press release of the agency it was noted that S&P considers
VTB Bank (Kazakhstan) as subsidiary structure which has status of «strategically very important» for VTB Bank. As a consequence, its rating by one notch lower than the rating of the parent bank, and «Negative» forecast on the ratings of VTB Bank (Kazakhstan) reflects the corresponding forecast on the ratings of VTB Bank.

S&P has also confirmed long-term credit rating of OJSC VTB at the level of BBB- with negative forecast, noting that in the next 12 months S&P does not expect deterioration in the level of liquidity of the State Bank, if sanctions will not be extended. «In our view, VTB has sufficient liquidity to perform its obligations for debt servicing in 2014 and 2015» - indicates the agency.

For reference:
SO JCS VTB Bank (Kazakhstan) - is 100% subsidiary Bank of the largest Russian OJSC VTB Bank. License of the FSA of the RK No. 1.1.259 dated 22.05.2009. The Bank was assigned international rating at the «BB+» / «Negative» forecast level from Standard & Poor’s Agency. The branch network of VTB Bank (Kazakhstan) covers 17 cities and amounts to 24 points of sales. VTB Bank and its subsidiaries form international financial group which conducts its activities in Russian and foreign markets. VTB Group consists of more than 30 banks and financial companies in 20 countries of the CIS, Europe, Asia and Africa. The major shareholder of VTB – is the Government of the Russian Federation (60,9%).