OREANDA-NEWS. August 04, 2011. Bank VTB (Kazakhstan) Subsidiary Organization Joint-Stock Company publishes financial statements, reported the press-centre of KASE.

Basic financial and operational performances as compared with the similar period of the previous year:

- The authorized capital stock amounted to 20 billion tenge having increased by the amount of 14 billion tenge;

- Bank's assets increased 6 times - up to 40,630 billion tenge;

- Liabilities increased 22 times - up to 21,794 billion tenge;

- Credit portfolio of the Bank amounted to 16 089 million tenge and increased 16 times as compared with the first half of the year 2010. Quality of the credit portfolio is at high level;

- Amount of funds on accounts and deposits of customers continued to increase and as at the 01st of July 2011 achieved 16 849 million tenge, having considerably increased as compared with the first half of the year
  2010;

- Net interest income amounted to 502 million tenge having increased 2,4 times as compared with the similar period of the previous year;

- Net fee income amounted up to 119 million tenge having increased 3,5 times as compared with the similar period of previous year.

"Subsidiary Bank VTB in Kazakhstan, which commenced its activity just two years ago, at present is developing at very fast pace demonstrating exceeding expected performances of the business plan. There is no doubt that active growth certainly influences on financial results in the context of profit earning, however this is in full correspondence with ambitious tasks set to the Bank. We are sure in further successful development of Bank VTB (Kazakhstan)," - the Member of the Management Board of Bank VTB OJSC, the Chairman of the Board of Directors of Bank VTB (Kazakhstan), Ms. Olga Dergunova, noted.

According to the approved strategy of development the Bank continues to actively develop the regional network in the Republic of Kazakhstan. Thus, 5 new branches were opened from beginning of the year 2011 in the following cities: Karaganda, Ust-Kamenogorsk, Atyrau, Aktobe, Semei, as well as two Additional Offices in Almaty City. As at the 01st of July 2011 the Bank has branch network consisting of 10 offices.