On March 6, 2018, S&P Global Ratings increased the long-term credit rating of Subsidiary VTB Bank JSC (Kazakhstan) from "ВВ" to "ВВ+" and confirmed its short-term rating at "В" level. The forecast of changes in the rating is "stable". At the same time, the agency increased the rating of the bank from "kzA" to "kzAA-" on the national scale.
S&P Global Ratings note that the increase in the rating of VTB Bank in Kazakhstan is caused by a similar action in respect of the parent organization of VTB Bank (PJSC) and an improvement in credit quality of the sovereign government of the Russian Federation.
- In justification to the rating change, S&P indicated that VTB Bank (Kazakhstan) has "very high strategic importance" for the parent structure and we always feel this attitude from VTB Group, of which our bank is a part, - says Dmitry Zabello, the Chairperson of the Management Board of VTB Bank (Kazakhstan
). – We receive not only financial support from the international holding, but also adjusted business models that allow us to offer the Kazakhstani market one of the best banking products and services, and also to develop actively. Over the past year, for example, after the adoption of a new development strategy, we managed to increase retail sales by 3.5 times.
At the moment, VTB Bank (Kazakhstan) has one of the highest credit ratings among the banks of the republic.
Subsidiary VTB Bank JSC (Kazakhstan) is a member of VTB international financial group. The Bank has successfully worked more than 8 years in the financial market of Kazakhstan. To date, Subsidiary VTB Bank JSC (Kazakhstan) has a branch network, consisting of 41 structural subdivisions, 17 of which are branches. The Bank's Central Office is located in Almaty. The license of the National Bank of the Republic of Kazakhstan No.1.2.14/39 dated December 23, 2014.
For additional comments you can always contact the press-service:
Subsidiary VTB Bank JSC (Kazakhstan)
Tel: 8 (727) 330 59 20 int. 59 20