/KASE, October 8, 2019/ – Subsidiary Organization VTB Bank (Kazakhstan) (Almaty),
whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following information statement dated October 8, 2019:
quote
On October 7, 2019, Andrey Kostin, president and chairman of board of VTB, met
Kazakhstan’s President Kasim-Zhomart Tokayev, Prime Minister Askar Mamin and
Nursultan Nazarbayev, the first president of Kazakhstan, during his official
visit to Kazakhstan.
During meetings, the parties agreed to expand cooperation between VTB Group and
Kazakhstan, which has significant potential for the development of VTB Group's
corporate and investment business.
Kasim-Zhomart Tokayev expressed support for VTB's efforts to finance
entrepreneurship in Kazakhstan and stressed the importance of developing the
banking sector for the integration processes of the two countries and the
Eurasian Union as a whole. Andrey Kostin emphasized that this year, the bank
celebrates a decade of its presence in Kazakhstan and plans further active
development of the business.
During the meeting with Kazakhstan's Prime Minister Askar Mamin, VTB expressed
its intention to increase VTB's loan portfolio to Kazakhstani companies, currently
worth about US $4 billion, to US $5-6 billions by the end of 2020. This will
strengthen VTB's role as one of the key financial institutions for Kazakhstan's
economic development. VTB Group's main products in Kazakhstan are lending,
transactions at commodity markets and financial consulting. VTB Group's key
clients in Kazakhstan are the largest companies in the mining, electric power
and oil and gas industries, which form the backbone of the country's national
economy. VTB is not only a creditor, but also a consultant on the development of
projects of Kazakhstani companies in Russia.
unquote
Full version of the statement is available at:
-
http://kase.kz/files/emitters/BVTB/bvtb_reliz_081019_kz.pdf – in Kazakh;
-
http://kase.kz/files/emitters/BVTB/bvtb_reliz_081019.pdf – in Russian.
[2019-10-08]