/KASE, April 27, 2020/ – Subsidiary Organization VTB Bank (Kazakhstan) JSC
(Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange
(KASE), has provided KASE with the following communiqué dated April 25, 2020:
quote
As of April 1, 2020, the income of VTB Bank (Kazakhstan) amounted to 1.7 billion
tenge, which is more than 2 times exceeds the financial result of the bank for
the same period last year. In comparison with the data as of April 1, 2019,
other key financial indicators also increased: the bank's assets increased by
57% and amounted to 267.5 billion tenge, the loan portfolio increased by 29% to
121.4 billion tenge, and the volume of customer accounts and deposits increased
by 71% - 172 billion tenge.
– In the first quarter of this year, the most significant event for VTB in
Kazakhstan was the announcement by the regulator of the financial market of the
results of AQR (independent assessment of asset quality), which showed that the
bank uses an effective, well-balanced risk management system. The results of
operations for the first quarter once again proved that the bank has a
sufficient capital reserve in excess of the standards established by the
National Bank, - said Dmitry Zabello, Chairman of the Management Board of VTB
Bank (Kazakhstan). – Of course, the coronavirus pandemic made significant
adjustments to our plans for further development, many of which we had to
reconsider, as a result of which we launched the process of global business
transformation. The crisis is the right time for brave decisions and abandoning
everything that impeded the process of accelerated development. We followed
this rule and in the near future we will introduce to the market our new
business model, unique for Kazakhstan.
unquote
The complete press release is available on KASE website:
-
https://kase.kz/files/emitters/BVTB/bvtb_reliz_250420_kz.pdf – in Kazakh;
-
https://kase.kz/files/emitters/BVTB/bvtb_reliz_250420.pdf – in Russian.
[2020-04-27]