Subsidiary Organization JSC VTB Bank (Kazakhstan) announces Board of Directors decisions of January 31, 2011

15.02.11 13:38
/KASE, February 15, 11/ - Subsidiary Organization JSC VTB Bank (Kazakhstan) (Almaty, hereafter - the Bank), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE) has by an official letter informed KASE that its Board of Directors took on January 31, 2001 the following decisions: quote 1. Olga Dergunova, acting member of the Bank's Board of Directors, is appointed the acting Chairman of the Bank's Board of Directors, effective from January 31, 2011. Upon approval by the authorized body Olga Dergunova shall be considered the Chairman of the Bank's Board of Directors. 2. Powers of the Bank's Compliance-Controller have been withdrawn. 3. Managerial accounts of the Bank for reporting periods have been registered. 4. Amendments to Rules of "Internal Credit Policy of SB Bank VTB (Kazakhstan)" have been approved. 5. A new location of a branch of SB Bank VTB (Kazakhstan) in Aktobe at Abylaikhan str., 25, Aktobe, 030020, Aktobe region, Republic of Kazakhstan has been set and a revised edition of the regulation on the branch has been approved. 6. A currency exchange transactions limit for a legal entity has been set at USD10,000,000 (ten million) or KZT1,500,000,000 (one billion five hundred million). The limit's duration - 12 months, for particular transactions - 12 months. 7. Decisions on deals with interest incorporated with legal entities have been taken. 8. A decision on concluding a deal with EBRD concerning setting a limit under the trade facilitation programme has been taken. 9. Setting the financing limit for a legal entity at KZT685,363,500 (six hundred eighty five million three hundred sixty three thousand and five hundred) (equivalent of USD 4,650,000 (four million six hundred fifty thousand)) has been approved. unquote [2011-02-15]