Subsidiary Organization VTB Bank (Kazakhstan) will not pay dividends for 2020

28.05.21 15:44
/KASE, May 28, 2021/ – Subsidiary Organization VTB Bank (Kazakhstan) (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated May 28, 2021: quote The sole shareholder of Subsidiary VTB Bank JSC (Kazakhstan) – VTB Bank (PJSC) decided not to distribute the net income of the subsidiary bank in the Republic of Kazakhstan for 2020. According to the opinion of the independent auditor – Ernst & Young, the net income of VTB Bank (Kazakhstan) for 2020 amounted to 5 billion tenge, which exceeds the result of the previous year by 11%. In comparison with the data as of December 31, 2019, the bank's assets increased by 54%, amounting to 323 billion tenge. "In accordance with the recommendations of the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, the shareholder of VTB Bank (Kazakhstan) for the second year in a row decides not to distribute net income and not to pay dividends. Additional liquidity during the coronavirus pandemic will help the country's economic recovery by increasing the amount of lending to entrepreneurs", – said Dmitry Zabello, Chairman of the Management Board of VTB Bank (Kazakhstan). According to the audited statements at the end of 2020, the volume of the bank's deposit portfolio increased by 89 % and amounted to 233 billion tenge. The loan portfolio grew by 33% to the level of 177 billion tenge. unquote The full press release is available on: - https://kase.kz/files/emitters/BVTB/bvtb_reliz_280521_kz.pdf – in Kazakh; - https://kase.kz/files/emitters/BVTB/bvtb_reliz_280521.pdf – in Russian. [2021-05-28]