VTB intends to increase the capital of its subsidiary bank in Kazakhstan


The sole shareholder of Subsidiary JSC VTB Bank (Kazakhstan) – VTB Bank (PJSC) intends to increase the capital of its subsidiary bank in Kazakhstan. The procedure will be carried out as soon as all legal requirements are fulfilled. The bank will allocate the received funds for increasing its equity capital which will contribute to the compliance with the necessary standards and further development of the bank's activity in the country.

"VTB Bank (Kazakhstan) is a resident of the Republic of Kazakhstan and has been operating in the country for more than 13 years. The shareholder expresses trust and gives full support to the bank. We clearly see a new way of VTB's development in Kazakhstan and are engaged in transforming the business model. The capital increase will allow the bank to increase its stability and implement the tasks jointly determined with the shareholder", - said Dmitrii Zabello, Chairman of the Management Board of VTB Bank (Kazakhstan).

Background information

Subsidiary JSC VTB Bank (Kazakhstan) is a member of the VTB international financial group. The Central Office of VTB Bank (Kazakhstan) is located in Almaty. The license of the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market No.1.2.14/39 dated February 3, 2020.