Profit of the VTB Bank (Kazakhstan) for the year increased more than doubled
The past year became the most successful for 9 years of the presence of the VTB in Kazakhstan. As of December 31, 2018 the Bank assets have increased in comparison with the previous period by almost 6% and totaled 162 billion tenge, the authorized capital of the Bank is equal to 29.9 billion tenge. Net profit for the year increased by 118% and amounted to 4.1 billion tenge.
- The results of the past year proved to be very successful for us. In 2018 the Bank achieved significant progress in implementation of the goals set out within the framework of the VTB Group development strategy for 2017-2019 and achieved excellent financial results. All three business lines of the Bank: retail, small and medium as well as large-investment business closed last year in the black, – the Chairperson of the Management Board of the VTB Bank (Kazakhstan) Dmitry Zabello said. – For the reporting period, the credit portfolio of the Bank grew by 26%, in the ranking of STB we took place 5 on return on capital and place 18 by amount of profits.
According to the results of 2018 the liabilities of the Bank amounted to 141.2 billion tenge. The loan portfolio increased up to 91.3 billion tenge, of which 42% – loans for individuals, 45% – financing medium corporate business and 13% – financing the large-scale-investment business. For the past year, the Bank outstripped the target for net profit more than 3 times. Business performance indicator CIR amounted to 17.9%.
According to the S&P Global Ratings international rating agency, the VTB Bank (Kazakhstan) has one of the highest credit ratings among banks in the country: long-term at “BB+”, short-term – "B". The outlook is "stable".
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.
For additional comments you can contact the press-service:
Subsidiary VTB Bank JSC (Kazakhstan)
Tel: 8 (727) 330 59 20 int. 59 20
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