OREANDA-NEWS. Subsidiary Organization JSC VTB Bank (Kazakhstan) (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following information statement:

"For purposes of explaining the situation related to the effect of sectoral sanctions imposed by the US on the Bank VTB (Kazakhstan), we inform you that:

The clarification of the name of subsidiary Bank VTB (Kazakhstan) in the list of organizations subject to sectoral sanctions of the US, does not make any changes to the sanctions in effect from September 2014 with regard to the Bank VTB (PAO) and its subsidiaries.

Bank VTB (Kazakhstan) continues usual operations, maintaining the high level of liquidity and equity. The situation with the clarification of particular organizations in the list of sanctions does not require from the Bank VTB (Kazakhstan) taking alternative decisions, since the earlier sanctions restrict raising funds from the US, namely – securing loans, offering bonds, shares on the US territory.

The Bank raises main funds within the country and enjoys support from the parent company – Bank VTB (PAO). The equity of Bank VTB (Kazakhstan) by the end of 2015 will be increased by KZT7.3 bn (USD24 mln). In addition, VTB's head office will provide to Kazakhstan-based subsidiary a subordinated loan. Hence, in total Bank VTB (Kazakhstan) equity will be increased by around USD40 mln.

The Bank meets its liabilities towards the clients and informs that the prolongation of the US sanctions against Bank VTB (PAO) and its subsidiaries will not affect individual and corporate clients of Bank VTB (Kazakhstan)".