Kazakh subsidiary of VTB Bank experiences losses
Baku, Azerbaijan, Nov. 3
By Elena Kosolapova – Trend:
Financial performance indicators of Kazakhstan’s subsidiary of Russian VTB Bank worsened in January- September 2016, according to the bank’s financial statements posted on the website of the Kazakhstan Stock Exchange (KASE).
The net loss of the bank hit 680.64 million tenge (337.66 tenges = $1) in this period, compared to 498.43 million tenge net profit in the same period of 2015.
The bank’s operating loss in the reporting period reached 817.49 million tenge compared to 374.83 million tenge operating profit in the same period of 2016.
The bank’s assets increased from 164.49 billion tenges at the beginning of 2016 to 168.63 billion tenges in late September 2016. The capital of the bank decreased from 20.86 billion tenges to 18.48 billion tenges in January-September 2016.
VTB Bank (Kazakhstan)’s liabilities increased from 143.63 billion tenges to 150.15 billion tenges in this period.
VTB Bank (Kazakhstan) provides services to legal entities and physical persons, focusing on the work with corporate customers, small-scale and medium-scale businesses. VTB Group is a global provider of financial services, comprised of over 20 credit institutions and financial companies operating across all key areas of the financial markets.
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