On October 29, 2019, the credit rating service of the international rating agency Standard & Poor's confirmed the long-term and short-term credit ratings as “BB+/B”, with “Stable” forecast for VTB Bank (Kazakhstan). S&P confirmed the bank’s rating on national scale as “kzAA” level as well.
“We confirmed the ratings of VTB Bank (Kazakhstan), subsidiary of the Russian VTB Bank, which reflects our view on persistent strategic relevance of the bank for the parent structure and potential support on the part of the shareholder when needed. Thus, we suppose that the bank will remain the subsidiary of VTB Bank, having “very high” strategic relevance for the parent company, and will continue to obtain operational, managerial and financial support on the part of the parent structure in any circumstances assumed”, - S&P Global Ratings noted.
“In 2019, the bank celebrates its tenth anniversary of presence in Kazakhstan and plans further active development of business. Confirmation of ratings is an evidence of the work, already done, and seriousness of our intentions, - the Chairman of Board of VTB Bank (Kazakhstan), Dmitry Zabello, says – The new three-year development strategy of the subsidiary bank in the Republic will be accepted by the end of this year. Priority of the bank’s business in Kazakhstani market is still support of small and medium entrepreneurship. At the level of VTB Group we will continue to develop credit granting, commodity trading and financial advising for our key customers”.
Subsidiary VTB Bank JSC (Kazakhstan) is a member of the VTB international financial group. The Bank has been successfully operating on the financial market of Kazakhstan already 10 years, providing a full range of financial services to any categories of customers in all regions of the country. 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 April 16, 2019.
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