VTB Bank (Kazakhstan) will not pay dividends for 2019
The sole shareholder of VTB Bank (Kazakhstan) – VTB Bank (PJSC) decided not to distribute the net income of the Kazakh subsidiary for 2019. According to the report of an independent auditor, Ernst & Young Company, the net income of VTB Bank (Kazakhstan) for 2019 amounted to 4.6 billion KZT, which exceeds the result of the previous year by almost 10%. As compared with the data as of December 31, 2018, the bank's assets increased by 19%, amounting to 209 billion KZT, capital increased by 2.2% to reach 21.4 billion KZT.
- In accordance with global trends and recommendations of the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, a shareholder of VTB Bank (Kazakhstan) decided not to distribute net income and not to pay dividends for 2019. This additional margin of safety will help the bank increase the pace of lending to the country's economy, – said Dmitry Zabello, Chairman of the Board of VTB Bank (Kazakhstan).
According to the audited accounts data for 2019, the volume of the deposit portfolio of the bank increased by 28% and amounted to 123.5 billion KZT. The advances portfolio grew by 25.6% to the level of 122.9 billion KZT.
According to the international rating agency S&P Global Ratings, VTB Bank (Kazakhstan) has one of the highest credit ratings among the country's banks: long-term at “BB +”, short-term at “B”. The outlook for the rating is stable.
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