TO JSC Bank VTB (Kazakhstan) does not expect profits until 2012

29.06.10 16:51
/IRBIS, June 29, 2010/ - TO JSC Bank VTB (Kazakhstan) does not intend to profit until 2012. This was stated today by the Chairman of the Board Mr. Sergey Gusarov, reported IA "News-Kazakhstan". He said until that time, the bank will be in the investment stage. Mr. S. Gusarov noted that "the strategy of Bank VTB (Kazakhstan) would increase its assets to $ 2 billion over the next two years, causing him to enter the top ten largest banks in Kazakhstan." Currently, the size of the bank's assets of about $ 47.5 million as of June 1, 2010, according to the FSA, in terms of assets VTB Bank (Kazakhstan) took 31 place among 39 banks in Kazakhstan. During the first quarter 2010 level of quarterly net profit VTB Group amounted to 15.3 billion rubles, compared with a loss of 20.5 billion rubles in the first quarter of 2009, according to the company's announcement. As indicated, the Group's corporate loan portfolio in the first quarter of 2010 rose by 1% to 2,120.9 bln rubles. The volume of retail loan portfolio amounted to 419.1 billion rubles, compared with 435.3 billion rubles at the end of 2009. TO JSC Bank VTB (Kazakhstan) has been working in Kazakhstan since May 2009. The sole shareholder is the Russian Open Society "Bank VTB". [2010-06-29]