VTB has provided VTB Bank (Kazakhstan) with subordinated loan
VTB Bank has provided its subsidiary bank in Kazakhstan with subordinated loan in the amount of 1 billion rubles for the period
of 7 years.
As a result, equity of Subsidiary JSC VTB Bank (Kazakhstan) has reached 23 billion tenge.
Increase of the size of equity will allow the subsidiary bank to continue to increase lending of both legal entities and individuals in accordance with the approved strategy for the period of 2014-2016.
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%).