As of April 1, 2020, the profit of VTB Bank (Kazakhstan) amounted to 1.7 billion KZT, which is more than doubled surpassed the financial result of the bank for the same period last year. In comparison with the data as of April 1, 2019, other key financial ratios also increased: the bank's assets increased by 57% and amounted to 267.5 billion KZT, the loan portfolio increased by 29% to 121.4 billion KZT, and the volume of client accounts and deposits increased by 71% - 172 billion KZT.
- In the first quarter of this year the most important event for VTB in Kazakhstan was the announcement the results of AQR (independent assessment of asset quality) by the regulator of the financial market, which showed that the bank uses an effective, well-balanced risk management system. The progress for the first quarter once again proved that the bank has a sufficient capital cushion that exceeds the standards established by the National Bank, ”- said Dmitry Zabello, Chairman of the Board of VTB Bank (Kazakhstan). - Of course, the coronavirus pandemic made substantial adjustments to our plans for further development of the business, many of which we had forced to reconsider, therefore we launched the process of global business transformation. The crisis is the right time for prompt actions and abandonment of everything that hampered the process of accelerated development. We followed this rule and in the near future we will present our new, unique for Kazakhstan business model to the market.
Under the current circumstances, VTB Bank (Kazakhstan) supports its clients by granting delays on loans to individuals and legal entities that have lost their income or a large part of it after the state of emergency. In addition, the bank became a member of the program of concessional financing for SMEs, which allows, during the quarantine period, to provide loans at fallback rates to support businesses affected by quarantine measures.