OREANDA-NEWS. March 01, 2011. 1. Y2010 Progress report of the Management Board Subsidiary Organization of Bank VTB (Kazakhstan) on the business plan and main ratios of the business-plan for Y2011 have been taken into consideration, reported the press-centre of KASE.

2. The Bank's Compliance-controller has been appointed and her term of office has been defined as running from March 1, 2011 to February 29, 2012.

3. The auditing results report on the Bank's Operating Department for period from July 1, 2009 to December 1, 2010 has been taken into consideration.

4. The Management Board has been assigned with presentation to the Board of Directors of a Progress report on removal of Internal Audit Service-detected incompliance not later than June 1, 2011.

5. A report on Y2010 activities of the Bank's Internal Audit Service has been taken into consideration.

6. Powers of Head of the Internal Audit service have been extended for another three years, from February 12, 2011 to February 11, 2014.

7. Deposit (sub-limit of provision) and conversion limits per one second-tier bank have been set as follows:

 - deposit limit (sub-limit of provision): amount: USD5,000 000 or KZT750,000,000, maximum operation duration - 1 month, limit's validity - 12 months upon decision-taking.

 - conversion limit: amount: USD5,000,000 or KZT750,000,000, maximum operation  duration  - 1 month, limit 's validity - 12 months upon decision-taking.

8. The limit for the State Organization National Bank of the Republic of Kazakhstan has been set a s follows:

 - deposit limit (sub-limit of provision): amount: not more than the Bank's own capital as of the date of transaction, maximum operation duration - 12 months, limit's validity - 12 months upon decision-taking;

 - deposit limit (sub-limit nostro): amount: not more than the Bank's own capital as of the date of transaction, maximum operation duration – 12 months, limit's validity - 12 months upon decision-taking;

 - conversion limit: amount: not more than the Bank's own capital as of the  date of transaction, maximum operation duration - 12 months, limit's validity - 12 months upon decision-taking.

9. The new edition of the collateral policy of SO VTB Bank (Kazakhstan) has been approved.                                                        

10. The "Concept of Consolidated Management in VTB Group in the Field of Internal Control in order to Tackle Laundering of Income Obtained as a Result of Crime and Financing of Terrorism" has been approved as an internal regulating document of the Bank.

11. A decision on concluding standard agreements of term deposits in Russian rubles and Kazakhstan tenge with affiliated person of the bank on standard terms has been taken.                                                             

Also the Bank provides details on the earlier information of Board of Directors' decision of January 31, 2011, in particular, that the former compliance-controller quit upon her own initiative.

With inquiries related to the above please turn to A. Mustafin, Corporate Secretary of SO VTB Bank (Kazakhstan), tel. +7 727 330-41-34