VTB Bank (Kazakhstan) has successfully passed an independent asset quality review of regulated banks (AQR - Asset Quality Review). The results of AQR were announced on February 28, 2020 by representatives of the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan and the National Bank of the Republic of Kazakhstan.
- AQR results were confirmed by the high credit rating of VTB Bank (Kazakhstan), and also showed that the bank uses an effective, well-balanced risk management system, thanks to which we do not need recapitalization. According to the news-letter of the National Bank of the Republic of Kazakhstan sent to VTB based on results of an independent asset review, the bank has a sufficient capital cushion in excess of the standards established by the National Bank, in addition, the controller does not require additional provisioning of the loan portfolio from the bank. We feel comfortable in the country's financial market and continue to implement the organic growth strategy, - said Dmitry Zabello, Chairman of the Board of VTB Bank (Kazakhstan). - It is worth remarking that the asset quality review, first carried out by the regulator in Kazakhstan, is a serious step towards the maturation of the banking industry in Kazakhstan. The market and society as a whole should know what condition the sector is in today. And in this direction, AQR is a serious exercise on the part of the financial controller, which made it possible to determine the points of tension in the system and direct forces to eliminate these points.
According to data of International Rating Agency S&P Global Ratings, VTB (Kazakhstan) has one of the highest credit ratings among all regulated banks in Kazakhstan with “BB + / B” ratings, with a “Stable” forecast. The bank has been successfully operating in the financial market of Kazakhstan for 10 years and will continue to actively improve its services, products and services. As normal, the priority for VTB remains customer comfort and reliability.
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